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Federal Reserve Chairman Janet Yellen returns to Capitol Hill today this time to talk to the House of Representatives.  

Bank of America posted a second quarter profits of $2.04 billion, down 43% from last year as the bottom fell out of the mortgage market.  The bank produced $13.7 billion in new home loans during the quarter down 59% from last year.  Litigation costs also shot up to $4 billion as B of A tries to settle loan disputes leftover from the financial crisis.  (Reuters)

Oregon’s largest employer, Intel, beat street estimates posting a profit of 55 cent a share.  The company was able to increase its profit margins during the quarter and its PC client business grew by 9%.  (CNBC)

For the fifth straight month retail sales increased showing the consumer is still out buying.  Sales, ex autos, are up 4.3% from last June.  Online and catalogue retailers are seeing even better than average sales up 8.1% over the last 12 months. (USA Today)

Producer prices increased 0.$% in June after falling in May.  That is a little hotter than expected, but inflation at the manufacturing level remains in check. (Associated Press

Thought your last flight was crowded?  Boeing is working on a high capacity 737 designed to carry up to 200 persons on short haul flights.  That is about a 10% increase in travelers over the current configuration. (Bloomberg)
 

Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

Traffic

 

 

  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.