ON AIR NOW

First Light

2:00am - 3:00am

Contact
Business News


Equity markets continue to melt up.  The S&P 500 moved up for a third straight session yesterday. The S&P 500 flirted with a record Wednesday, but closed just short of the mark. (Fox Business News)

New applications for unemployment claims fell 14,000 to 298,000.  New applications for unemployment are at their lowest levels as a percentage of the labor force since 1967. (Associated Press)

A once iconic brand continues its slide into the abyss. Sears, also the owners of Kmart, reported its ninth straight quarterly loss.  The second quarter loss widened to $573 million and sales continued their decade-long fall down by 9.7%. (Reuters)

Nobel Prize winner Lars Peter Hansen says uncertainty surrounding regulation is hindering U.S. economic growth. He says, "I think the uncertainty that institutions on what kind of regulatory environment there is going to be in the next few years is contributing to caution … … in a way that is going to be counterproductive. I think clarity in policy is really critical … ,". (CNBC)

As the world continues awash in oil it is moving down 67 cents to $92.78 barrel. The U.S. is pumping the most oil in 27 years, adding more than 3 million barrels of daily supply since 2008. The U.S. imported 7.2 million barrels a day of crude in May, a 26% drop from the same month in 2008 when oil prices spiked. (Bloomberg)

Traffic

 

 

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

 

  • I-84,Troutdale MP 17 - 62, in the Coumbia Gorge remains closed. The highway is closed EB at Exit 17 in Troutdale. Trucks use US-26 to OR-35 as an alternate route.

 

  • Construction at 27th Street . Northbound Lane Closed from Ferguson to Bear Creek.  Detour in place.

 

  • 27th and Bear Creek Rd intersection varying traffic control changes

 

  • O.B. Riley Road South-bound lane closed south of Mervin Samples Rd (12/17)