Financial Review

A Stickler for Math


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…..S&P 500 and Russell 2000 hit highs. 2Q GDP 3.1%. Taxes and math. Gary Cohn has never been to Home Depot. Twitter and the Russians. Supremes are back. Oil supply and demand. Drug news. Ikea for lazy people. Financial Review by Sinclair Noe for 09-28-2017     DOW + 40 = 22,381 SPX + 3 = 2510 (record) NAS + 0.19 = 6453 RUT + 3 = 1488 (record) 10 Y un = 2.31% OIL – .56 = 51.58 GOLD + 4.30 = 1287.70   The S&P 500 and the Russell 2000 hit record high closes. The S&P is up 1.5 percent this month, on track for its sixth consecutive monthly gain. September is normally the worst month for stocks.   The Commerce Department released its third and final estimate of second quarter Gross Domestic Product. Second quarter GDP was revised to 3.1%, up from the earlier estimate of 3%. Growth last quarter was the quickest since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period. With GDP accelerating in the second quarter, the economy grew 2.1 percent in the first half of 2017. Hurricane damage is expected to put a dent in third quarter GDP, but give a little boost to fourth quarter numbers. Estimates for the growth rate in the July-September period are just above 2.2 percent.   Details of the Republican tax plan have yet to be filled in, so we can’t say yet who would pay what. The 9-page proposal released yesterday ...
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Financial ReviewBy Sinclair Noe