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Equity markets sold off yesterday as concerns raged about the end of loose money and good economic data.  It could be good news for markets that Congress appears to have cut a budget deal through September that will provide a little certainty. (Reuters)

 

US small business sentiment improved in December, as firms were optimistic about future business conditions and earnings. The NFIB small business optimism index was up 1.4 points and has been on an upward trend for a year, but is still well below pre-recession levels.(National Federation of Independent Businesses)

It is bank day on Wall Street as earnings season heats up.  JP Morgan Chase had a fourth quarter profit 7% lower than last year as it paid some huge legal costs. Top line revenue was down 1%.  Wells Fargo saw profits grow 11% as they right size staffing in their mortgage departments.  Revenue was essentially flat. (Reuters)

December retail sales up 0.2%, if you take out autos they were up 0.7%. Both good numbers.  Inflation remains in check with import prices being flat and export prices rising 0.4%. (Associated Press)

You are dating yourself if you remember who Stan Smith was or if you remember his shoe, but a whole new generation will find out as Adidas is set to rerelease the iconic shoe tomorrow.  The German company, with North American offices in Portland originally released the shoe in the 70’s and it is one of their best selling shoes of all time.  Retro shoes are hot in the market right now.
(Portland Business Journal)
 

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:

 

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  • 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.