US stock markets continued to be in correction mode yesterday as good news was bad, and bad news was even worse. That trend looks to continue today as Russia masses troops on the Ukraine boarder and economic numbers in Europe show they continue to struggle. (Associated Press)
Bend’s newest corporate citizens, Walgreens, says it won’t pursue an inversion plan to re-incorporate in Europe to cut its tax bill. It is buying the remainder of Europe’s Alliance Boots that it doesn’t already own in a $10.1 billion deal. (CNBC)
With mortgage rates still wavering within a tight and historically low range, total mortgage applications rose 1.6% week to week. But no good news for new home building as it was all on the back of refinancing. (Mortgage Bankers Association).
Mondelez International, makers of Oreos and Tang, reported 2nd quarter results reflecting strong growth and margin expansion. Sales were $8.4 billion, down 1.8%, and profits were $957 million, up 10.6%. (Yahoo Finance)
Service industries such as builders and retailers grew in July at the fastest pace since December 2005, signaling the U.S. economy was hitting its stride entering the second half of 2014. The Institute for Supply Management’s non-manufacturing index increased to 58.7, exceeding the highest estimates. (Bloomberg)