Financial Review

Don’t Blink


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…Stocks finish a bad week. Russell rebalanced. EU tariffs hit. Euro cars next to take a hit? OPEC increases production but not by much. SCOTUS: get a warrant for cell pinpointing. Banks pass stress test. Bitcoin bust. Blazer hecho en Mexico. Financial Review by Sinclair Noe for 06-22-2018 DOW + 119 = 24, 580 SPX + 5 = 2754 NAS – 20 = 7692 RUT – 3 = 1685 10 Y un = 2,90% OIL + 3.74 = 69.28 GOLD + 2.00 = 1269.90   The major indices flipped roles today, with the Dow and the S&P 500 up while the Nasdaq and the Russell 2000 slipped. This was a rough week for the market but tech companies, specifically the FAANGs had been performing well and providing leadership, and the small cap, domestic companies in the Russell 2000 offered a defensive play compared to the large multi-nationals in the Dow. The trade disputes pushed the Dow Jones index lower for the past eight sessions as big industrial companies such as Boeing and Caterpillar have weighed on the index and put it on pace for its worst weekly performance in 13 weeks. For the week, the Dow lost 2 percent, its weakest weekly performance since late March. The S&P 500 fell 0.9 percent and the Nasdaq declined 0.7 percent.   Trading volume was very heavy today, nearly 10 billion shares. One of the world’s largest index providers, FTSE Russell, is rebalancing the large-cap Russell 1000 and the small-cap Russell 2000 indexes. ...
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Financial ReviewBy Sinclair Noe