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Good Morning,

Bitcoin breaks 70k (again), oil prices drop 20% & futures rally on Iran news, Charles Schwab leaving downtown Portland, Intel up over 4% on news of partnership with Elon Musk’s SpaceX, used car prices up, more Amazon layoffs likely coming.

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PNW Market Look

As of market close 4.7.26

Bill Ackman’s Pershing Square made $60B bid to buy Universal Music Group

Headline Roundup

Tigard-Tualatin Schools plan to cut $5.5M from next year's budget (KATU)
(WA) Housing market trends favor home shoppers, but Iran war clouds the outlook for mortgage rates (DJC)
Ada County Highway District wins national smart community technology award (IBR)
$10.2 million multifamily project in Portland building permits (DJC)
New 150-unit affordable housing proposed near Helena Costco, aims to break ground in 2027 (HelenaIR)
Micron hopes to expand campus, adding large berms and electric yard near homes. Boise didn’t follow its typical process (BoiseDev)
Investment firm becomes latest business to decamp difficult downtown Portland corridor (ORL)
Oregon gas average hits $5 as oil shortage fears grow (ORL)
19 months and $650,000 later, steel plates plucked from Seattle bus route (ST)
4 WA sheriffs sue Ferguson, state over new oversight for top cops (ST)
Intel says it is a partner in Elon Musk's Terafab project (PBJ)
Tax credits, Enterprise Zones on businesses' wishlist, Prosperity Council survey finds (PBJ)
Why More People Are Dropping Out of the Job Market (WSJ)
(MT) Commerce announces seven large tourism grants for rural communities (DM)
Boise entrepreneur Molly Lenty joins Laska Company as business broker (IBR)

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Community Highlight

SEDCOR Sets April 23 Economic Summit In Salem With Focus On Regional Growth (SBJ)

Montana Folk Festival announces seven of its performers for July 10-12 concert in Butte (MTS)

Rip’s Spotlight

Iran updates: Pakistan seeks 2-week pause after Trump warns ‘whole civilization will die’ if no deal by deadline (CNBC)

"Pakistan, which is an intermediary between the U.S. and Iran, asked for a two-week delay in escalating attacks on Iran.
President Donald Trump sharply ramped up his threats against Iran on Tuesday, warning “a whole civilization will die tonight” unless a deal is struck.
The White House will respond to Pakistan’s request, White House press secretary Karoline Leavitt said”

“In a post on his social media site, Trump said that, provided Iran agreed “to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” he would “suspend the bombing and attack of Iran for a period of two weeks.”

Since the war began on Feb. 28, Trump has repeatedly backed off on deadlines just before they expire.

In doing so again on Tuesday, Trump said he had come to the decision “based on conversations” with Pakistan Prime Minister Shehbaz Sharif and Gen. Asim Munir, Pakistan’s powerful army chief.”

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