Financial Review

Big Earnings Week


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…..Nasdaq record. Fed FOMC looking for inflation. GDP growing but not enough. Big week for earnings. 2Q reports off to a good start. Google earnings hit by EU fines, but still shows growth. KKR buys WebMD. Trump pleads for something on healthcare. Kushner testifies. Dems offer Better Deal. NASA tries to crack the sonic boom. Financial Review by Sinclair Noe for 07-24-2017   DOW – 66 = 21,513 SPX – 2 = 2469 NAS + 23 = 6410 RUT + 2 = 1438 10 Y + .02 = 2.25% OIL + .66 = 46.43 GOLD + .50 = 1256.00 Stocks were mixed, with tech shares leading the way and the Nasdaq Composite closed at another record high. Commodities Futures Trading Commission data show that bets against the dollar are at their highest since early 2013, while bullish wagers on the 30-year Treasury bond are about the highest since mid-2016. The dollar dropped to 15-month lows and then rebounded slightly. The yield on the 10-year Treasury note moved up to 2.25%. You probably would not expect to see such extreme positioning if investors were confident in the outlook for the economy and the prospect for much higher interest rates. The Federal Open Market Committee is slated to begin its two-day meeting on Tuesday. Fed watchers are not expecting a change in interest rates. The Fed will likely be as vague and flexible as possible. The Federal Reserve doesn’t want to get specific about timing but they also don’t want to leave any doubt: ...
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Financial ReviewBy Sinclair Noe