Financial Review

Cookies, Milk, Cannoli


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…..Record high close for the Dow, again. Oil bounces despite glut. Retail sales up. Import prices up. Paris agreement “unstoppable”. UK has no plan for Brexit. Google and Facebook close the gate on fake news. Buffett buys airlines. Soros buys GOOG and NFLX. Financial Review by Sinclair Noe for 11-15-2016 DOW + 54 = 18,923 SPX + 16 = 2180 NAS + 57 = 5275 10 Y + .02 = 2.24% OIL + 2.51 = 46.45 GOLD + 6.50 = 1228.50   Another record high for the Dow.   The dollar pulled back from close to 14-year highs, euro zone government bond yields fell and the price of copper tumbled as traders cashed in recent gains. US Treasury yields fell slightly; the carnage in bonds placed on temporary pause but it didn’t last.   Oil prices, which hit three-month lows on Monday, rose after the U.S. Energy Information Administration said U.S. shale oil production was expected to fall in December for the 12th month in 13. Still, the US has more gasoline than it knows what to do with. Exports have risen above imports for three consecutive weeks as recurring pipeline outages and higher production levels by refiners caused Gulf Coast inventories to grow. The abundance of gasoline pushed Gulf Coast gasoline prices to an eight-month low last week and spurred the longest losing streak since 2012 in futures, making U.S. gasoline an affordable buy. Valero Energy shipped excess supplies to Canada instead of Colombia and Phillips 66 sent the first gasoline shipment in ...
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Financial ReviewBy Sinclair Noe