Financial Review

Eight Year Anniversary


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Economic data: producer price flat, retail sales down, current account deficit down, industrial production down. BoE stands pat; SNB too. The 8th anniversary of the Lehman Brothers collapse. Financial Review by Sinclair Noe for 09-15-2016 DOW + 177 =18,212 SPX + 21 = 2147 NAS + 75 = 5349 10 Y + .02 = 1.71% OIL + .12 = 43.70 GOLD – 8.50 = 1315.10   Wholesale prices were flat in August, mostly because of sharp declines in the cost of food and gasoline; the Producer Price Index was unchanged for the month. In the past 12 months, the producer price index is unchanged. In August, the wholesale cost of food tumbled 1.6%, the biggest drop in almost three-and-a-half years. Gasoline prices slid 2.5%.If the volatile food, energy and trade margin categories are stripped out, so-called core prices rose a faster 0.3%. Looked at that way, costs have risen 1.2% in the past year, the highest 12-month rate since the end of 2014.   Sales at U.S. retailers fell in August for the first time in five months as traffic dropped off for most stores, a sign that third-quarter growth might not be as strong as previously estimated. Retail sales declined a seasonally adjusted 0.3%. In August, hardly any retail segments did well. Receipts at auto dealers slipped 0.9%.Sales at gas stations fell 0.8% last month, reflecting a decline in prices. Sales also declined 1.4% at home-improvement centers and 0.6% at department stores. Sales even fell for internet sellers and ...
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Financial ReviewBy Sinclair Noe