Financial Review

Dow 20K Redux


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…..Another record high close for the Dow. Earnings reporting in full bloom. J&J buys Actelion. Oprah ends world hunger. Jobless claims up. New home sales down. Tomorrow 4Q GDP. More on the wall. Mexico cancels meeting. Financial Review by Sinclair Noe for 01-26-2017 DOW + 32 = 20,100 SPX – 1 = 2296 NAS – 1 = 5655 RUT – 6 = 1375 10 Y + .02 = 2.51% OIL + 1.00 = 53.75 GOLD – 12.90 = 1188.80   Yesterday the Dow Industrial Average, the S&P 500 Index and the Nasdaq Composite all hit record high closes, but lest you think what’s happening is merely a US phenomenon, let me remind you: The entire world is now breaking out, in concert. the MSCI All Country World Index Ex-US ETF, which holds everything else other than US stocks, just broke out to the highest level in almost 2 years.   The big focus today was another flood of earnings results. It was the busiest day for the fourth quarter reporting season as 39 S&P firms release their numbers.  After the closing bell, Microsoft report earnings of 83 cents per share, topping estimates of 79 cents, with better than expected revenue of $26.07 billion. Microsoft traded today at an all-time high.   Shares of Alphabet fell in extended trading after reporting weaker-than-expected fourth-quarter earnings. The Google and YouTube parent reported net income of $5.3 billion, or $7.56 a share, compared with $6 billion, or $7.06 a share, in the year-earlier period. Revenue ...
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Financial ReviewBy Sinclair Noe