Financial Review

C’est l’économie stupide


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…..Wall Street down today, up for the week. Oil down for the week, but gasoline prices head higher. Tax reform next week, if the government stays open. Existing home sales up. State by state unemployment rates lower in March. Fed’s Fischer sanguine on the economy. Exxon can’t drill in Russia. VW on probation. Extended audio analysis of the upcoming French election. Financial Review by Sinclair Noe for 04-21-2017 DOW – 30 = 20,547 SPX – 7 = 2348 NAS – 6 = 5910 RUT – 4 = 1379 10 Y – .01 = 2.24% OIL – 1.17 = 49.54 GOLD + 2.20 = 1284.90 For the week, the Dow Industrials were down 3 days and up 2, but the 2 gainers were big. The S&P 500 managed to notch its first weekly gain in three. For the week, the Dow rose 0.5 percent, the S&P gained 0.8 percent and the Nasdaq advanced 1.8 percent, notching a record high along the way. Small caps in the Russell 2000 provided outsized gains of 2.6% on the week.   Oil prices dropped more than 2 percent today, notching the biggest weekly decline in more than a month on mounting evidence that US production and inventory growth were offsetting OPEC’s attempts to reduce the global crude glut. WTI crude lost 6.7 percent for the week. The U.S. Commodities Future Trading Commission showed total long positions in U.S. crude rose in the week to April 18 to their highest in more than a month at ...
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Financial ReviewBy Sinclair Noe