Dr. Eric Wattenburg

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US Stocks ended yesterday's choppy trading session mostly higher as investors weighed soft housing data against a flurry pf deal news including the takeover of Family Dollar by Dollar Tree.

Pending home sales fell 1.1% in June to mark the first decline in 4 months showing sales of US homes continue to face headwinds like higher interest rates, tight credit, and stagnant wage growth of prospective buyers.  The Case-Shiller home price index is also out this morning showing that house prices nationally declined .3% year over year.(marketwatch)

UPS reported 2nd quarter earnings this morning that missed expectations.  The company reported $1.21/share when wall st had been expecting the company to earn $1.25/share.  The company also lowered its full year earnings forecast because they plan on increasing expenses.  Shares of UPS sold off on that news.(CNBC)

Drug companies Pfizer and Merck both beat 2nd quarter earnings expectations sending those stocks higher.  Both are Dow components which will help lift that index today.(marketwatch)

And good news if you are retired.  In their annual report issued by the Medicare and Social Security Trustees showed that both programs will run out of money later than expected.  Medicare isn't scheduled to be exhausted until 2030 and Social Security will last until 2033.  Lower than expected spending extended the life of both programs which will certainly take the heat off lawmakers to address entitlements ahead of Congressional elections.(yahoo finance)
 

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.