Financial Review

Ain’t That a Shame


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…..Stocks fall on weak earnings. Durable goods orders up. New home sales pop. ECB meets tomorrow. Budget vote tomorrow on Capitol Hill, maybe. CBO scores on CSRs show it would pay to save ACA. Late night vote nullifies end of forced arbitration. Financial Review by Sinclair Noe for 10-25-2017   DOW – 112 = 23,329 SPX – 11 = 2557 NAS – 34 = 6563 RUT – 6 = 1493 10 Y + .04 = 2.44% OIL – .30 = 52.17 GOLD + .90 = 1278.20   The Dow and S&P 500 suffering their worst day in seven weeks. Even though overall earnings results have been beating estimates, we had a string of disappointments today. Burrito chain Chipotle and chip maker AMD (that’s computer chips – not chips and salsa) were the S&P 500’s two biggest losers. Chipotle posted weaker-than-expected earnings late Tuesday, sinking 15%, while AMD’s results beat expectations, but investors seemed more concerned about the company’s outlook, which may not have been as strong as hoped. AMD shares dropped 13%. Well, that’s how it goes during earnings reporting season. Yesterday investors cheered the early results from third-quarter corporate earnings, equity investors had a change of heart. Third quarter earnings are not expected to shine; with consensus forecasts of profit growth coming in at less than half the 10 percent or so seen in the first two quarters of 2017. As we move through earnings – pay attention to guidance. The actual earnings have already happened. The market tries to look to the future.   Amgen reported ...
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Financial ReviewBy Sinclair Noe