National Economic News
The markets see-sawed around during the month, in response to oil price fluctuations and the build up to the national election.
Regional Economic News
A housing market study showed that home prices in the metro Denver area fell in October for the second consecutive month, while the number of houses under contract grew. The median price for a single family home fell to $235, 900 from $240,000 in August and September. (The Denver Post, Oct. 27, 2004).
The Denver Metro Chamber of Commerce/Rocky Mountain News leading index of the local economy rose to its highest level since 2001. The index measures how the metro area economy will perform over the next six to nine months. (Rocky Mountain News, Oct. 9, 2004).
Natural gas price increases are expected to translate into heating bills up 26 percent from a year ago. (The Rocky Mountain News, Oct. 26, 2004).
Colorado's unemployment is down to 4.9 percent as opposed to 6 percent a year ago. Boulder County has a rate of 4.4 percent, while Broomfield County has a rate of 4.8 percent. (The Rocky Mountain News, Oct. 23, 2004).
A study by Ernst and Young shows that venture capital availability is rebounding more slowly in Colorado than the rest of the nation. In the first three quarters of this year Colorado companies raised $272 Million of venture funding, a 9 percent increase over the same period last year. (The Denver Post, Oct. 25, 2004).
Regional Stock Gainers
Evolving Systems Up 1.45 Intrado Up 1.7 McData Corp. Up .81 Storage Tek Up 2.92 Dynamic Mat'ls Up .34
