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Markets hung out at the flat line yesterday consolidating gains from the week before.  Today we go to our 19th consecutive up Tuesday.

 

Home Depot is showing the strength of the housing markets as they topped street expectations and raised their profit guidance for the rest of 2013.  The company says sales rose 7.2% year-over-year and profits surged 22% for the same period.

 

Today Apple CEO Tim Cook is expected to go before Congress with a plan that will give incentive to multinational companies to repatriate oversea profits. Currently American multinationals are taxed by the country where they make the profits and then again if they bring them home.  Apple alone has $40 million in cash overseas that could be brought home for new plant construction.  Be aware of political bloviating on this subject as Apple and other companies are demeaned for doing what is legally best for their shareholders.

 

Airlines collected record baggage fees in 2012, more than $3.5 billion to be precise.  This revenue has become an important and growing part of the airlines revenue stream over the last five years.

 

Home affordability fell in the first quarter of 2013 according to the National Homebuilders. A median family income of $64,000 could afford 73.7% of all home sold during the quarter, which is down from almost 75% at the end of 2012. The index has not fallen below 70 since 2008, as record low interest rates help keep home affordable.

 

The S&P 500 is up 1 and the NASDAQ is up 3.

 

Oil is down 25 cents at $96.50 a barrel.

 

Gold is down $7 at $1377 a Troy ounce.

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.