Financial Review

Fed Day


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…..Fed leaves policy unchanged and that’s dovish(?) ADP big surge in private jobs. ISM manufacturing at 2 year high. Facebook is now ubiquitous. VW will pay more. Spectrum’s slow internet. Various earnings reports. Amazon plane hub in KY. 15.4 million victims of ID theft and fraud. UK moves closer to Brexit. Nuclear option for SCOTUS. Iran on notice. Zika still a problem. Financial Review by Sinclair Noe for 02-01-2017 DOW + 26 = 19,890 SPX + 0.68 = 2279 NAS + 27 = 5642 RUT – 0 .60 = 1361 10 Y + .02 = 2.47% OIL + .73 = 54.15 GOLD – .070 = 1210.60   Today is Fed Day. The FOMC released its statement today, there was no press conference, and was no change; interest rates unchanged, outlook unchanged. Policy makers reiterated their expectations for moderate economic growth, “some further strengthening” in the labor market and a return to 2 percent inflation. Policy makers in December penciled three rate hikes into their 2017 forecasts and there was nothing in today’s statement that would indicate a change from that course. Wall Street tries to read between the lines, and the absence of a more hawkish tone was interpreted as dovish; the thinking is that if the Fed really wanted to hike rates 3 times this year, they would have given us a hint. Of course, the Fed policymakers could still have plenty to say in their speeches over the next few weeks, but for now, the implied or maybe ...
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Financial ReviewBy Sinclair Noe