Financial Review

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…..Dow closes above 22,000. Apple lifts the markets. Dollar at support. How a weak dollar helps some companies. Watching the debt ceiling. Trump signs Russian sanctions. Tesla cash burn, but better than expected. Financial Review by Sinclair Noe for 08-02-2017 DOW + 54 = 22,016 SPX + 1 = 2477 NAS – 0.29 = 6362 RUT – 15 = 1412 10 Y + .01 = 2.26% OIL  + .45 = 49.61 GOLD – 2.00 = 1267.20   The Dow closed above 22,000 for the first time ever. Not a big surprise. After the closing bell last night, Apple reported a really strong quarter for earnings, and the stock moved to a record high, which carried over to today’s trading. Apple jumped 4.73 percent to a record high. It is up 36 percent this year. Apple’s gains helped push the Dow to a record closing high, although tech heavyweights Microsoft, Facebook and Alphabet all lost ground following recent strong gains that have made the sector the strongest performer in 2017. The Dow has risen 11 percent in 2017 and hit its sixth straight record close today. The Dow hit the 20,000 level in late January and crossed the 21,000 mark on March 1. The last time the S&P pulled back by 5 percent or more was just ahead of the election when it gave back 5 percent. There also was a sell-off after the June 2016 Brexit vote of 6 percent. The last large correction was the more than 11 percent ...
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Financial ReviewBy Sinclair Noe