Financial Review

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After Friday’s meltdown, more jawboning from Fed policymakers and an olive branch from Brainard spikes the market. Agrium and Potash deal. Linde and Praxair end deal. Samsung sells printers, and recalls phones. Tesla’s new autopilot. Time goes digital. Sanofi and Verily fight diabetes. Bezos blasts off. Hanjin ghost ships. Financial Review by Sinclair Noe for 09-12-2016 DOW + 239 = 18,325 SPX + 31 = 2159 NAS + 85 = 5211 10 Y un 1.67% OIL + .14 = 46.02 GOLD – .70 = 1328.10   Financial Times‘ Eric Platt writes: “Janet Yellen will deliver the biggest shock to markets since taking over as chair of the Fed … should the central bank raise interest rates this month, according to a survey of Wall Street economists that shows more than 85 per cent expect it to hold fire. The skepticism among economists may concern the Fed’s top officials, who have spent the past month trying to persuade financial markets that an increase at their meeting on September 21 is a possibility.” Before Friday’s rout, in which the S&P 500 fell by 2.5 percent, the broad stock index hadn’t dropped by more than 1 percent for 52 consecutive trading sessions; and the VIX, the Volatility Index had been bouncing around multi-year lows in July and August. The CBOE total put/call ratio spiked on Friday, meaning investors rapidly bought more puts relative to calls. Still, sentiment indices reflect excess optimism among active managers. At the very least, all the Fed jawboning has ...
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Financial ReviewBy Sinclair Noe