Financial Review

All the Ships at Sea


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A flat day on Wall Street, oil speculation on the high seas, Brazil gets a new president, Google goes inside in 3D, and nukes in the Red  Rocks. Financial Review by Sinclair Noe for 05-12-2016 DOW + 9 = 17,720 SPX – 0.35 = 2064 NAS – 23 = 4737 10 Y + .02 = 1.76% OIL + .16 = 46.39 GOLD – 13.50 = 1264.20 Stocks were up, then down and then finished fairly flat. The S&P 500 closed a touch lower, as declines in health care, tech and industrials offset gains in most sectors led by telecommunications. The Dow held onto a minor gain as Boeing moved higher and Apple briefly fell under $90, hitting a fresh 52-week intraday low. After a big up day followed by a big down day this week, the market couldn’t figure out which way to go.   The number of Americans who applied for unemployment benefits in early May jumped for a third week in a row to 294,000, hitting a 14-month high.  There may be some statistical noise in the data as New York City Schools were off for spring break, and many non-teacher school employees (bus drivers, cafeteria workers, etc.) are somehow permitted to file for unemployment when schools are closed for a week or two. Initial claims have held below the key 300,000 level for 62 weeks, the longest streak since 1973. The average of new claims over the past four weeks shot up by more than 10,000 to ...
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Financial ReviewBy Sinclair Noe