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US stock markets continued to be in correction mode yesterday as good news was bad, and bad news was even worse. That trend looks to continue today as Russia masses troops on the Ukraine boarder and economic numbers in Europe show they continue to struggle. (Associated Press)

Bend’s newest corporate citizens, Walgreens, says it won’t pursue an inversion plan to re-incorporate in Europe to cut its tax bill. It is buying the remainder of Europe’s Alliance Boots that it doesn’t already own in a $10.1 billion deal. (CNBC)

With mortgage rates still wavering within a tight and historically low range, total mortgage applications rose 1.6% week to week. But no good news for new home building as it was all on the back of refinancing. (Mortgage Bankers Association).

Mondelez International, makers of Oreos and Tang, reported 2nd quarter results reflecting strong growth and margin expansion. Sales were $8.4 billion, down 1.8%, and profits were $957 million, up 10.6%. (Yahoo Finance)

Service industries such as builders and retailers grew in July at the fastest pace since December 2005, signaling the U.S. economy was hitting its stride entering the second half of 2014. The Institute for Supply Management’s non-manufacturing index increased to 58.7, exceeding the highest estimates. (Bloomberg)

Traffic

 

 

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

 

  • Purcell Boulevard Northbound lane between Neff Road and Full Moon Drive (West side of the hospital) is closed until December 20th.

 

  • 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.