…Major stock indexes hit all-time highs, again. Fed holds steady. Senate votes and votes, again. Trump v. Transgendered. New home sales up. Copper squeeze. Facebook ubiquitous. Boeing flying high. UK electric. Financial Review by Sinclair Noe for 07-26-2017   DOW + 97 = 21,711 SPX + 0.7 = 2477 NAS + 10 = 6422 RUT – 8 = 1442 10 Y – .05 = 2.28% OIL – .08 = 48.67 GOLD + 10.50 = 1261.10   The major U.S. stock indexes set all-time highs again.   The Federal Reserve Federal Open Market Committee wrapped up its two-day meeting on monetary policy. They left interest rates unchanged and in a statement, said they would begin running off their $4.5 trillion balance sheet “relatively soon”. The Fed’s language was not really dovish, but perhaps a bit less hawkish. That pushed Treasuries higher. The Euro jumped to a 2-1/2 year high against the dollar. The next scheduled FOMC meeting is September 19-20, and there is a good chance the Fed will announce the onset of the balance-sheet reduction at the conclusion of the September meeting, effective on the first of October. The Fed has raised interest rates 4 times since they began removing emergency policy in December 2015, and project another increase before the end of this year – most likely at the December meeting. As the Fed starts selling securities from their balance sheet, they will start small and gradually increase the sales, which should allow markets to adjust, at least in ...