Financial Review

Capping Off a Record Week


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S&P hits new record high close. Measuring the fallout from Brexit. GE reports multiple numbers. American Airlines hits a soft patch. A look at the oil patch. A nationwide network of chargers. Amazon student loans. Pokemon gets a Big Mac. Financial Review by Sinclair Noe for 07-22-2016 DOW + 53 = 18,570 SPX + 9 = 2175 NAS + 26 = 5100 10 Y – .02 – 1.55% OIL – .51 – 44.24 GOLD – 8.60 = 1323.10   Stocks closed higher for the fourth straight week, with the S&P hitting a new record high. The rise capped the longest run of weekly gains since March. The Dow Industrial Average did not close at a record high but has been positive for 10 of the last 11 sessions.  A three-week rally in global equities has added more than $4.5 trillion in value.  The next big event for the markets likely will be the two-day Fed policy meeting slated for July 26-27. Although the central bank isn’t expected to push benchmark rates higher, market participants will pore over the updated policy statement for clues on the pace and timing of the next rate hike, which could influence the U.S. dollar, Treasuries and the broader stock market.   In the weeks following Brexit, there was a “dramatic deterioration,” in the British economy; that according to a one-time report from Markit Economics published this morning. Services and manufacturing shrank and a gauge of the private-sector economy plunged to 47.7, well below the 50 level that ...
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Financial ReviewBy Sinclair Noe