Financial Review

Blame Columbus


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…Stocks flounder. Google’s breach. SCOTUS returns tomorrow. Brazil elections. Nordhaus and Romer win Nobel Economics. UN climate change report. Financial Review by Sinclair Noe for 10-08-2018 DOW + 39 = 26,486 SPX – 1 = 2884 NAS – 52 = 7735 RUT – 2 = 1629 10 Y = 3.23% OIL – .12 =74.22 GOLD – 15.20 = 1188.50   Earlier in the session, the Dow Industrial Average was down over 220 points. So, it was a decent recovery but a disappointing session nonetheless. The Nasdaq closed down for a third straight session. Among the biggest drags on both the Nasdaq and the S&P 500 were Microsoft Corp, down 1.1 percent, and Adobe Systems Inc, down 3.2 percent. By contrast, defensive sectors, including utilities, consumer staples, and real estate, led the S&P’s major sectors in percentage gains. The bond market was closed for Columbus Day.   Google will shut down the consumer version of its social network Google+ after announcing data from up to 500,000 users may have been exposed to external developers by a bug that was present for more than two years in its systems. Alphabet discovered and patched the leak in March of this year and had no evidence of misuse of user data or that any developer was aware or had exploited the vulnerability. So, why are we only learning about this now? The Wall Street Journal reports that Google did not report this earlier because they were concerned about regulatory scrutiny. Under the European Union’s ...
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Financial ReviewBy Sinclair Noe