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Fred Johnson
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Fred Johnson
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Business News


US Stocks finished slightly lower yesterday, but finished the 2nd quarter higher.  June was the 5th straight monthly gain and the 2nd quarters gain was the 6th straight quarterly gain.  The S&P 500 recorded a 6.1% gain in the first half of 2014.

Even though General Motors recalled another 8 million cars yesterday bringing their total this year to 29 million their June sales were 1% higher.  GM sold 267,000 vehicles in June.  Shares of GM are 2% higher on that news.(marketwatch)
 
Pending home sales jumped 6% in May to reach the highest level in eight months signaling that upcoming closings of existing homes will speed up.(yahoo finance)

Two separate reports out this morning showing manufacturing in China is rebounding with economists crediting government stimulus measures as reason for the rebound.  China's manufacturing sector is now growing again showing its strongest expansion in 15 months after contracting in May.(markwatch)

Paying for college just got more expensive.  Every July 1st the interest rate on federal student loans resets.  So even though the federal loans have rates that are set for the life of the loan, students taking new loans will be paying higher rates.  The Stafford loan is set to rise today from 4% to 4.66%.  Student loan debt is now greater than credit card debt in this country, second only to mortgage debt.(Yahoo Finance)

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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