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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.

 

  • 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)