(Bloomberg) -- US consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate hikes.Most Read from BloombergDemocrats Weigh Paring Biden Tax Hike to Win Over ManchinThe Wheels Have Come Off Electric VehiclesSupreme Court Crimps Biden’s Climate Agenda With Limits on EPAStock Doomsayers Vindicated in Historic First Half: Markets WrapTru
Warren Buffett and his company Berkshire Hathaway are highly regarded for their savvy investments, which have produced phenomenal returns over the years. In addition, Buffett and Berkshire are investing hundreds of billions of dollars for a wide array of shareholders and stakeholders, which makes their investing strategy much different from that of the average retail investor. During the earlier part of the pandemic in 2020 and 2021, Berkshire sold a number of stocks to prepare for the situation at hand and the new trajectory the world was on due to COVID.
Wells Fargo (WFC) closed the most recent trading day at $39.71, moving -1.17% from the previous trading session.