It took more than 17 years
Portland’s ban on new bulk fossil-fuel terminals has been rejected by the state Land Use Board of Appeals. LUBA said the zoning ordinance was an unconstitutional restraint on interstate commerce. The ordinance banned new storage facilities with capacities greater than 2 million gallons and prohibited existing terminals from expanding. (PBJ)
Sears announced the launch of Kenmore products on Amazon, as well as the integration of the full line of Kenmore Smart appliances with Alexa. (CNBC)
Oregon’s largest employer, Intel, has eliminated most of its health wearables division. (CNBC)
Leading economic indicators increased 0.6% in June, beating expectations and pointing to an improving economic outlook. (AP)
It took more than 17 years, but the S&P 500 Information Technology sector finally closed at a new all-time high yesterday. The previous record was set on March 27, 2000 and it took 4,354 trading days until that peak was bested yesterday. One thing to remember is: Adjusted for inflation, tech is still 29.8% away from an all-time high. (LPL Research)
The S&P 500 is up 1 and the NASDAQ is down 7. The MSCI international index is lower.
Oil is down 50 cents at $46.43 a barrel.
Gold is up $3 at $1249 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.