2014-07-16 06:45:00 by NW Quadrant Wealth Management
Federal Reserve Chairman Janet Yellen returns to Capitol Hill today this time to talk to the House of Representatives.
Bank of America posted a second quarter profits of $2.04 billion, down 43% from last year as the bottom fell out of the mortgage market. The bank produced $13.7 billion in new home loans during the quarter down 59% from last year. Litigation costs also shot up to $4 billion as B of A tries to settle loan disputes leftover from the financial crisis. (Reuters)
Oregon’s largest employer, Intel, beat street estimates posting a profit of 55 cent a share. The company was able to increase its profit margins during the quarter and its PC client business grew by 9%. (CNBC)
For the fifth straight month retail sales increased showing the consumer is still out buying. Sales, ex autos, are up 4.3% from last June. Online and catalogue retailers are seeing even better than average sales up 8.1% over the last 12 months. (USA Today)
Producer prices increased 0.$% in June after falling in May. That is a little hotter than expected, but inflation at the manufacturing level remains in check. (Associated Press
Thought your last flight was crowded? Boeing is working on a high capacity 737 designed to carry up to 200 persons on short haul flights. That is about a 10% increase in travelers over the current configuration. (Bloomberg)