Financial Review

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…..Record highs, again for Dow, S&P, Nasdaq, and Russell.  CPI up on higher gas; + 2.5% over past year. Strong retail sales in January. Empire State MFG report strong. Yellen goes before the House. Retailers meet Trump, oppose border adjustment tax. Humana pulls out of ACA. Puzder pulls out of labor bid. Bebe won’t pull out of settlements. Time Warner votes “yes”. SoftBank buys FIG. Verizon wants a new deal. Financial Review by Sinclair Noe for 02-15-2017 DOW + 107 = 20,611 SPX + 11 = 2349 NAS + 36 = 5819 RUT + 7 = 1404 10 Y + .03 = 2.50% OIL – .23 = 53.48 GOLD + 5.40 = 1234.20   The consumer price index, or cost of living, rose by a seasonally adjusted 0.6% in January. The prices Americans pay for goods and services jumped in January by the largest amount in four years, mostly because we paid more for gasoline. Also, rents and medical costs have increased. Food costs rose slightly in January but are down 2% in the past year. Headline inflation rose 2.5% over the prior year. Stripping out the volatile food and energy categories, Core consumer prices advanced a slower 0.3% in January. The core rate has moved up 2.3% in the past year. Real hourly wages fell by 0.5% in January, reflecting the squeeze put on consumers by higher gasoline prices. Real or inflation-adjusted wages are flat over the past 12 months.   Most US retailers posted strong sales in January. Retail ...
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Financial ReviewBy Sinclair Noe