Markets are higher this morning, with S&P 500 and NASDAQ on pace for a sixth straight winning week. The Dow Jones industrial average is on track for its biggest comeback from a deficit during a quarter since 1933. (CNBC)
Umpqua Bank will close 26 branch offices. A company release didn't specify which outlets will close. The company cited the rise of online banking for its decision. (Portland Business Journal)
Three former Les Schwab employees are suing the company for $15 million in punitive damages accusing the tire company of pushing unneeded tires on customers. Les Schwab is headquartered in Bend and was founded in 1952 with a single store in Prineville. Under Oregon law, the state would collect 70% of any punitive damages collected in the case.
The suit is scheduled for trial in late September. (Oregon Live)
Join us this weekend at for Financial Focus Radio when Tyler and I will discuss the traps we are seeing in your portfolio.
Oil is up 75 cents at $41.00 a barrel. Oil is hitting fresh highs for 2016. West Texas Intermediate is on track for a more than 4% weekly gain. (Reuters)
Gold is down $13 at $1252 a Troy ounce.