Financial Review

Carving a Turkey


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…..Dow, S&P and Nasdaq at record highs. One year after the election. Apple hits $900 billion. Dems win big in local elections. Corporate tax cuts face phase-in after CBO finds deficit too high. Saudi purge continues. Earnings news continues. Financial Review by Sinclair Noe for 11-08-2017 DOW + 6 = 23,563 SPX + 3 = 2594 NAS + 21 = 6789 RUT + 2 = 1481 10 Y + .02 = 2.33% OIL – .38 = 56.82 GOLD + 6.00 = 1281.80   The Dow Industrial Average carved out yet another record high close – not a big gain at all but any gain adds to the record. The S&P 500 also closed at a record high. And a record high for the Nasdaq – All three at records. In hockey parlance that’s a hat trick; bowlers might call it a turkey.   On the one-year anniversary of Trump’s win in the presidential race, the Dow Jones Industrial Average is showing its biggest post-Election Day gain in more than 70 years. The Dow has advanced 28.50% since Nov. 8, 2016. That represents its best performance after a White House contest since 1945, when the blue-chip gauge was up 29.83% in a year following the election of Franklin D. Roosevelt. The S&P 500 is up 21% over the past 12 months. Trump has taken full credit for the equities rally, offering this assessment this week: “The reason our stock market is so successful is because of me.”   There may have been a ...
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Financial ReviewBy Sinclair Noe