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Colorado - Fri. 11/06/26 |
A Free Business Publication from Alpine Bank
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WALL STREET GETS $2.5 TRILLION AI REALITY CHECK WITH HISTORIC ROUT OF TECH STOCKS
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Two days after the midterm elections swept a bloc of artificial-intelligence skeptics into power, the new reality slammed into Wall Street. Thursday’s stock-market wipeout left few corners of the tech sector unscathed. Asian chip makers, Texas power producers, New Jersey cloud-computing providers, Silicon Valley software makers, contractors and data-center developers all tumbled, often in unison, in a selloff that appeared to feed on itself as the day wore on. Traders making highly leveraged bets got crushed, but so did those who doubted a recent pullback in AI stocks would get worse. It did, from the opening bell. By Thursday afternoon, some $1 trillion of the Magnificent Seven group of tech giants’ collective market value had vanished.
The PHLX Semiconductor index posted its worst day since the depths of the pandemic. The Nasdaq composite stumbled into correction territory, shedding an estimated $2.5 trillion in total market value. That was the biggest drop in the benchmark’s history. And the poster child of the AI boom, Nvidia, closed the session in the red—for 2026. Thursday’s selloff broadened to drag every sector of the S&P 500 into the red.
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IRS ANNOUNCES NEW FEDERAL INCOME TAX BRACKETS FOR 2027
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The IRS has announced new federal income tax brackets and standard deductions for 2027. In its announcement Thursday, the agency raised the income thresholds for each bracket, which apply to tax year 2027 for returns filed in 2028. The IRS also increased figures for other key provisions, including long-term capital gains brackets, the estate and gift tax exemption, and eligibility for the earned income tax credit, among others. For 2027, the top rate of 37 percent applies to individuals with taxable income above $661,375 and married couples filing jointly earning $793,650 or more. Federal income tax brackets show how much you owe on each part of your taxable income, which you calculate by subtracting the greater of the standard or itemized deductions from your adjusted gross income. The standard deduction will also increase in 2027, rising to $33,200 for married couples filing jointly, up from $32,200 in 2026.
Starting in 2027, single filers can claim $16,600, a bump up from $16,100. The new tax brackets come as Americans wrestle with affordability issues amid the rising cost of housing, groceries, gasoline and other living expenses. The consumer price index climbed 3.7 percent in September 2026 from one year earlier, up from a yearly pace of 3.4 percent in August, the Bureau of Labor Statistics reported in October. Your federal tax brackets depend on your filing status, which you choose on your tax return. The options include single, married filing jointly, married filing separately, head of household or qualifying surviving spouse. You can find your 2025 taxable income on line 15 of your individual federal income tax return, known as Form 1040.
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SKIJORING TO HIT DENVER'S NATIONAL WESTERN STOCK SHOW FOR THE FIRST TIME
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Skiers and cowboys are set to collide at Denver’s National Western Stock Show in January, with organizers announcing that skijoring will take place at the event for the first time ever. A sport that consists of horses pulling skiers through a snowy course, skijoring has long taken the center stage at mountain town events around Colorado, and now it will be headed to Denver. The special skijoring event will take place on Jan. 18 from 11 a.m. to 2 p.m., with skijoring viewing included with a Grounds Admission ticket. The event will take place in front of The Legacy. Fifty teams are expected to participate, with participants traveling through gates, jumps, and other obstacles. The National Western Stock Show can draw more than 700,000 visitors during a good year, with the 2027 event stretching from Jan. 9-24. Grounds Admission tickets for Jan. 18 were priced at $31 for adults and $10 for children ages three to 11 at time of reporting. Learn more at nationalwestern.com.
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DENVER URBAN RENEWAL AUTHORITY SELECTS FIRST NEW LEADER IN OVER 25 YEARS
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The Denver Urban Renewal Authority, which has helped make possible developments such as Denver's Central Park neighborhood and downtown's Larimer Square, has a new leader. Today, the DURA board of commissioners voted to make Kenneth Ho DURA's next executive director. Ho is the first new, permanent executive director since 2000 and brings over two decades of experience in real estate development, investment and planning in Denver to the role. Ho previously held roles at Craft Companies, Westside Investment Partners, Lennar Multifamily Communities (now Quarterra), Denver International Airport, Trammell Crow Co. and Cherokee Investment Partners. He currently serves as the chief operating officer of the Fitzsimons Innovation Community, where he leads real estate efforts, campus operations and infrastructure planning.
The organization is currently working to boost a plan to revitalize the historic Rossonian Hotel in Five Points and reinvest in Northeast Park Hill. DURA is also contemplating investment around Burnham Yard, where the Denver Broncos could potentially locate a new, retractable-roof stadium. Tracy Huggins was DURA's executive director from 2000 until 2026. Bill Pruter has served as interim executive director since January. He will remain on the board of commissioners to help ensure a smooth leadership handoff, DURA said. Ho's first day will be Dec. 1.
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FREE MEALS FOR VETERANS
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In celebration of Veterans Day, Alpine Bank would like to say thank you for your service and your sacrifice. Let the participating restaurants below know you're a Veteran when you place your order. Your meal will be covered by Alpine Bank. Offer available, Nov. 11, until noon. Offer covers Veteran only.
Grand Junction:
- Pufferbelly Station Restaurant, 337 1st St.
- Dream Cafe, 314 Main St.
Fruita:
- Starvin' Arvins, 555 Raptor Rd.
- Strayhorn Grill, 456 Kokopelli Dr.
- Cattlemen's Cafe & Catering, 435 US-6
Clifton:
- Starvin' Arvin's, 3247 F Rd.
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INDEPENDENCE PASS OFFICIALLY CLOSED FOR THE SEASON
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Independence Pass will remain closed for the rest of the winter season following a safety closure that was initially put in place on Saturday, Oct. 31, due to forecasted storms. The Colorado Dept. of Transportation announced the full annual closure in a press release issued Tuesday, citing the amount of snowfall on the pass and additional storms projected for the region as reasons it will not reopen.
The annual closure announcement falls within the normal range for pass closure announcements in recent history, which include:
- 2020 – Nov. 13
- 2021 – Oct. 28
- 2022 – Nov. 4
- 2023 – Oct. 30
- 2024 – Oct. 31
- 2025 – Nov. 17
During the seasonal closure, motorists traveling between Aspen and the Denver Metro area must use Hwy. 82 to and from Glenwood Springs and Interstate 70 to and from Denver. CDOT typically reopens the pass around the Memorial Day holiday weekend, weather-permitting. Chuck Marsh, Colorado Dept. of Transportation’s Northwest Colorado Regional Communications manager, confirmed to The Aspen Times that the gate on the west side of the pass will stay open to Lincoln Creek until Nov. 15, through the third season of hunting for hunter access, also weather-permitting.
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GJ AIRPORT AIMS TO ADD NONSTOP SERVICE TO HOUSTON
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The Grand Junction Regional Airport says it’s won a $950,000 grant from the U.S. Dept. of Transportation to create an incentive for airlines to fly a nonstop route between the Western Slope travel hub and the George Bush Intercontinental Airport in Houston. The cash helps support a “minimum revenue guarantee” for an airline running the route. It’s added to a pool of $700,000 in matching funds from the Grand Junction Regional Air Service Alliance and $25,000 in marketing support from the airport itself. The airport said it was one of 14 recipients picked for the DOT’s Small Community Air Service Development Program after submitting an application in May. No airline has announced plans to start flying the route, but United had submitted a letter of support for Grand Junction’s grant application, making it a likely contender.
Two other major airlines in Grand Junction — Delta and American — also offer service at the George Bush Intercontinental Airport, according to fly2houston.com. Grand Junction Regional Airport currently offers nonstop service to five destinations: Denver, Dallas-Fort Worth, Phoenix, Salt Lake City and Las Vegas. In its press release, the local airport said nonstop service to Houston would bring online one-stop connectivity to more than 300 other destinations worldwide.
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BRECK, COPPER DELAY OPENING DAYS
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Go-to ski slopes in Colorado will not open as planned Friday. Breckenridge Ski Resort is pushing back its scheduled kickoff to the season, as announced Thursday morning in a social media post pointing to overnight temperatures that “have been just barely too warm to run snowmaking at full power.” Breckenridge’s post included a video message from the resort’s patrol director, Hunter Mortensen. “We’re not quite ready to open up on Friday. Why? We want a better skiing surface, we want more base snow from our snowmakers that we can’t give you right now,” he said. Crews “have been doing the best they can with the warm overnight temperatures,” Mortensen added. “They’re making a good product, they’re going to stay at it, they’re going as hard as they can with what Mother Nature is going to allow us to do. But we’re not quite there yet.” Eager skiers checking OpenSnow on Thursday saw sunny and dry conditions predicted to continue through next week.
Sam Collentine, the platform’s chief operating officer and meteorologist, said the snowmaking “setup for the next week is favorable at night and marginal during the day.” High temperatures in Breckenridge are expected well into the 50s throughout the weekend and into next week. Breckenridge and Copper are telling pass holders to follow social media for opening announcements. Breckenridge is pointing Epic Pass customers to Keystone. The fellow Summit County resort on Oct. 30 opened 2 miles of terrain on the Schoolmarm and Silver Spoon trails. Arapahoe Basipn Ski Area also has a trail open in Summit County. In southwest Colorado, Wolf Creek Ski Area opened before closing due to historic flooding in the area.
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COLORADO SKI RESORTS RECORD UP TO A HALF FOOT OF SNOW AS OPENING DAYS LOOM
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A snowstorm delivered a few inches of fresh snow on Wednesday night, Nov. 4, as more of Colorado’s ski resorts work to open their slopes to the public. With up to 8 inches across its four peaks, Aspen Snowmass reported the highest snow totals as of Thursday morning, Nov. 5. Aspen Mountain and Snowmass Ski Resort are both scheduled to open Nov. 26, with Buttermilk and Highlands peaks to follow. Breckenridge Ski Resort and Copper Mountain received about 4 inches of fresh snow, according to OpenSnow. Both Breckenridge and Copper were scheduled to open Friday, Nov. 6, but Breckenridge announced on Thursday that its opening would be delayed.
Beaver Creek Resort, which plans to open Nov. 25, also recorded 4 inches. Vail Mountain, which plans to open on Friday, Nov. 13, recorded about 2 inches of fresh snow. Meanwhile, Colorado’s two open ski resorts — Arapahoe Basin Ski Area and Keystone Resort — each only received about 1 inch, according to OpenSnow. Winter Park Resort, which plans to open as soon as conditions allow, also recorded an inch. While the Wednesday night storm missed Steamboat Resort, OpenSnow shows the ski resort saw up to 8 inches of snow at high elevations earlier in the week, on Tuesday. Steamboat plans to open Nov. 21.
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PRIVATE COMPANIES ADDED 86,000 JOBS IN OCTOBER, SLIGHTLY HIGHER THAN EXPECTED
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Private sector job growth held steady in October, with gains spread across sectors, as the labor market showed fresh signs of stabilization, ADP reported Wednesday. The payroll processing firm said companies added 86,000 jobs during the month, the same as the downwardly revised total for September and slightly ahead of the Dow Jones estimate for 75,000. Employment gains came mainly in the service sector.
- Trade, transportation and utilities led with 39,000 new jobs, while education and health services added 28,000, and leisure and hospitality contributed 19,000.
- Other sectors showing gains included financial activities (15,000), construction (13,000), and other services (10,000).
- However, some of the gains were offset by a decline of 27,000 in professional and business services and a loss of 8,000 in natural resources and mining.
- Information services, a sector potentially impacted by the artificial intelligence buildout, lost 2,000 jobs.
- Salaries continued to show gains, particularly for those changing jobs — those workers saw a 4.8 percent annual gain. A report Tuesday from the Bureau of Labor Statistics showed that the number of people quitting their job, a sign of labor market mobility, hit its highest level since March 2025.
- Workers overall saw a 3.2 percent base pay gain, while gross pay increased 4.7 percent annually. Pay for those staying in their jobs rose 3 percent.
- Companies with between 50 and 499 workers added 33,000 jobs. Large businesses added 24,000, while small firms increased rolls by 28,000.
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COLORADO'S NIGHT SKIES TO FEATURE 'CAN'T MISS CELESTIAL EVENT,' MULTIPLE METEOR SHOWERS & A SUPERMOON
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With four meteor showers, a supermoon and more, the night sky will be full of wonder this November. Colorado’s mountain communities offer great opportunities for stargazing, since the tall peaks help block light pollution. Dark Sky International officially recognizes more than 20 places in Colorado, including towns like Frisco, Breckenridge, Old Snowmass, Ridgway, Westcliffe and Silver Cliff, as well as state parks and national parks, for the quality of their stargazing opportunities.
Here’s what stargazers should look for this month:
- Northern Taurid Meteor Shower: The Northern Taurid Meteor Shower is a “can’t miss celestial event” this year. The meteor shower will peak on the night of Nov. 12, offering shooting stars from sunset through sunrise. Since the peak of the Northern Taurid Meteor Shower coincides with a crescent moon that sets early in the evening, meteors should shine bright against the dark sky.
There are three other meteor showers this month in November, though these could see interference from moonlight:
- The Leonid Meteor Shower, which peaks on the night of Nov. 17, is expected to offer between 10 and 15 meteors per hour, but the moon will be two-thirds full that night so the fainter shooting stars may not be visible. The best time to see this meteor shower is expected to be around 11 p.m.
- The Alpha-Monocerotids Meteor Shower will peak on the night of Nov. 21, though it’s one for the “late-night owl” or earliest of birds since it is expected to be best around 4 a.m. on the morning of Nov. 22. It may be harder to see because it is an “ambiguous” shower with meteors that appear in bursts, rather than throughout the night. The moon will also be more than 90 percent full that night.
- November Orionid Meteor Shower will peak on the night of Nov. 28 with about three to five meteors per hour, Laurin said. The meteor shower’s radiant point will be the constellation Orion, which will become visible on the eastern horizon around 6:35 p.m., but the moon will also be bright that night.
A Supermoon and the Seven Sisters:
- On the night of Nov. 24, a supermoon that appears about 7 percent larger than normal will rise in Colorado’s skies, according to Laurin. November’s full moon is traditionally known as the Beaver Moon. A supermoon is a full moon that happens when the moon is at or near its closest point to Earth in its oval-shaped orbit, according to the National Aeronautics and Space Administration. Supermoons typically occur three to four times a year.
- In November, stargazers should also look for Pleiades, or the Seven Sisters, which will return to the night sky around this time of year, Laurin said. This open star cluster — or a group of up to a few thousand stars formed together and are about the same age — is located in the constellation Taurus. Because the seven brightest stars in the Seven Sisters form a shape similar to the Big Dipper and Little Dipper, the star cluster is also sometimes informally referred to as the “mini dipper.” To find the Seven Sisters, start by scanning the east-northeast horizon, looking for a patch of “dim brightness” that looks like a “smudge” about the same size as a full moon. Look just to the left of the right of the “smudge” and the seven sisters will become visible.
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MARKET UPDATE - 11/05/2026 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 11/05/2026)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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