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Chip stocks are having a great time (again), Intel and Apple to partner for US made chips, Micron price target lifted to $1500, Navy launches $30b shipyard contract in Washington, Billionaire Gabe Newell leaves Washington for Florida, Alaska Airlines promotes CFO to President.

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PNW Market Look

As of market close 6.18.26

Headline Roundup

Montana has paid $26 million to Provo Canyon School in the last 10 years, according to publicly available state finance records. (MTS)
Intel has a deal to make chips for Apple, Trump says; shares jump (ORL)
Navy launches $30B shipyard contract, with big work in Bremerton (DJC)
GC/CM sought for $116M University Place high school remodel (DJC)
Federal order keeps Washington's only coal power plant open — again (KUOW)
$35 million campaign finance fine against Meta upheld by WA Supreme Court (KUOW)
Montana growth continues, but gains slow across major cities (MTFP)
Canyon County Sheriff’s Office unveils next chapter with $27.6 million facility (IDP)
Portland’s $160M budget crisis just claimed 140 jobs, fire rescue vehicles and shelter beds — but the fight isn’t over (ORL)
Public meetings scheduled for potential land exchange near Idaho’s Payette Lake (IDC)
Study: Willamette River generates $300M-plus in economic impact (PBJ)
Big battery farms encounter resistance across western Washington (WSS)
Data centers: Gianforte says state has asked to intervene in electricity tariff hearing (Missoulian)
Take a look inside: $46 million Deschutes County courthouse expansion nears completion (BB)
KidsQuest ends partnership with Bellevue affordable housing project after BAM purchase (PBJ)
Alaska Air promotes Shane Tackett to president (PBJ)

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Community Highlight

WA employers added jobs in May, but unemployment rate stayed stuck at 5.2% (KUOW)

“Washington’s unemployment rate held steady at 5.2% in May even as the economy added roughly 10,000 jobs, its highest one-month gain this year. The unemployment rate was unchanged from April. It was 4.5% in May 2025 and the slow incremental increases last year and first half of 2026 signal “an increasingly challenging labor market for job seekers,” she said. The national unemployment rate was 4.3% last month.

Last month’s bounce comes after the state recorded a combined loss of 8,700 jobs in the months of March and April. However, even with last month’s surge, the number of jobs in Washington decreased by 7,700 jobs, or 0.2%, since May 2025.

In the meantime, a report issued Monday by Washington’s chief economist, Dave Reich, says job growth has been weaker than expected since the release of the last revenue forecast in February. And, he noted initial claims for unemployment benefits were 5,972 in the week ending June 6, up from 5,006 in the prior week.”

Rip’s Spotlight

Inside the massive response to an early-season wildfire near Spokane (ST)

“Spokane County Fire District 9 Chief Matthew Vinci said 11,750 residents were under evacuation and 2,340 primary and secondary structures threatened. He did not have an estimate for structures lost at a 6 p.m. news conference.

No injuries were reported, Vinci said.

Dozens of engines from crews including the Department of Natural Resources, the cities of Spokane and Spokane Valley, and Fire District 9 responded to the fire, focusing on structure protection. Other resources from North Idaho and Western Washington also showed up to help.

Vinci said over 300 people and more than 65 apparatuses were working the fire Tuesday evening.”