Summit Bank expanding
This week the focus will likely be on earnings. Corporate earnings are likely to overshadow the Federal Reserve amid the busiest week of earnings season with nearly 40% of the S&P 500 reporting. The Fed holds their two-day monetary policy meeting with no rate hike expected. The U.S. economic calendar includes housing, manufacturing, durable goods, and second quarter gross domestic product. (LPL Research)
36.6% percent of household in 2016 rented, about the 1965 number of 37%. That according to a report by the Pew Research Center. U.S. households grew by 7.6 million over the past decade, but the number of households headed by owners remained relatively flat, while households headed by renters grew by nearly 10%.
Summit Bank expanding its current Bend branch by 745 sq ft and adding four new staff members. (Bulletin)
Hasbro makers of Star Wars, My Little Pony and Transformer toys saw sales rise 11% in Q2. U.S. and Canadian revenue grew 16% to 494.4M. The companies operating margin rate grew 60 bps to 10.3%. (Seeking Alpha)
The S&P 500 is down 2 and the NASDAQ is down 3. The MSCI international index is lower.
Oil is up 17 cents at $45.94 a barrel.
Gold is up $1 at $1256 a Troy ounce.