Financial Review

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…..Dow and S&P record high closes. A short-term deal on ACA. NAFTA talks fail. Travel ban blocked. Morgan Stanley and Goldman report. IBM declining-revenue streak continues. Netflix the new movie giant. Volvo v. Tesla. Financial Review by Sinclair Noe for 10-17-2017 DOW + 40 = 22,997 SPX + 1 = 2559 NAS – 0.35 = 6623 RUT – 5 = 1497 10 Y – .01 = 2.30% OIL + .14 = 52.01 GOLD – 9.70 = 1285.80   The Dow Industrials and the S&P 500 hit another record high close. The Nasdaq Composite barely missed.  The Dow briefly moved above 23,000 intraday – for the first time ever. Wait for 24,000 before you buy a hat. It took 53 trading days for the Dow industrials to move from 22,000 to the 23,000 mark. don’t know how long you might have to wait. Valuations seem a bit high at these levels. But a 1,000 point move isn’t what it used to be.  If the Dow picks up another 1,000 points to reach 24,000, that will represent a 4.3% advance from the 23,000 mark.   Two senators announced a bipartisan breakthrough to shore up Obamacare, a least for the short-term. The agreement worked out by Republican Senator Lamar Alexander and Democratic Senator Patty Murray would meet some Democratic, including a revival of the subsidies for Obamacare and restoring $106 million in funding for a federal program that helps people enroll in insurance plans. In exchange, Republicans would get more flexibility for states ...
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Financial ReviewBy Sinclair Noe