…..Eurozone grows. BOJ stands pat. FOMC meets. Home sales up. Consumer confidence down. Deutsche Bank launders money. Apple beats, beats, beats. Exxon’s big impairment – not worth it to pull it out of the ground. Trump meets drugmakers. Tom Price did get a discount. OneWest did engage in robo-signings. Trump fires Yates. Trump names next justice. Hoping for Solomon. Financial Review by Sinclair Noe for 01-31-2017 DOW – 107 = 19,864 SPX – 2 = 2278 NAS + 1 = 5614 RUT + 10 = 1362 10 Y – .03 = 2.45% OIL + .19 = 52.82 GOLD + 14.70 = 1211.00   Economic growth for the Eurozone rose 1.7% last year, growing at a faster rate than the U.S. managed when averaged across the whole of 2016. That’s the first time that happened since 2008. The region’s jobless rate also fell to 9.6%, the lowest figure since May 2009, while inflation of 1.8% is now near the ECB’s target of “close to, but below 2%.”   Following a two-day board meeting, the Bank of Japan kept its monetary policy on hold, but policymakers were more bullish on the economy, raising its 2017 real gross-domestic-product growth forecast to 1.5%, up from its previous forecast of 1.3% offered last November.   The Federal Reserve Federal Open Market Committee is beginning 2 days of meetings to determine monetary policy. Most analysts predict the FOMC will leave interest rates unchanged when Chair Janet Yellen makes the announcement tomorrow. The Fed last met in mid-December and ...

…..Refugee travel ban blowback. Two for one on regulations. Jobs report on Friday. FOMC meets tomorrow. Wall Street without Fed stimulus looks pricey. Consumer spending up. Pending home sales jump. Rig counts climb. Puerto Rico extension. VW the biggest. No accounting for Toshiba. Fitbit unhealthy. Tempur Sealy nightmares. Walgreens Rite Aid shrinkage. Financial Review by Sinclair Noe for 01-30-2017 DOW – 122 = 19,971 SPX – 13 = 2280 NAS – 47 = 5613 RUT – 18 = 1352 10 Y un = 2.48% OIL – .50 = 52.67 GOLD + 3.70 = 1196.00   On Saturday, a federal judge in New York temporarily barred the US from deporting detainees from the countries covered in an executive order restricting travel to the US from 7 countries. The White House also clarified its policy regarding green card holders, stating the travel ban would not apply to those with legal permanent residence in the United States.   Several businesses and trade organizations responded to the travel ban over the weekend. Many airlines, caught off-guard by the sudden policy change, scrambled to follow the new directive while attending to their customers. Shares of airline companies were knocked lower. American – 4.3%, Delta – 4%, United – 3.6%   Delta Air Lines suffered a systems failure. The airline grounded US domestic flights on Sunday evening as it dealt with a systems failure. Early this morning, Delta tweeted: “UPDATE: Systems return to normal; some flight cancellations linger.” Delta said it canceled about 170 flights on Sunday, ...

…..Nasdaq record high. VIX multi-year low. 4Q GDP 1.9%. 2016 GDP 1.6%. Room to grow. Lucha Libre: Trump v. Slim. PM May comes a begging.  UBS redemptions. Sears fading away. Iranian tankers sail. Happy New Year. Financial Review by Sinclair Noe for 01-27-2017 DOW – 7 = 20,093 SPX – 1 = 2294 NAS + 5 = 5660 RUT – 5 = 1370 10 Y – .02 = 2.48% OIL – .64 = 53.14 GOLD + 2.90 = 1192.20   Major market indices traded in a tight range today. The Nasdaq pulled out another record high close. Meanwhile the Vix, the volatility index closed at 10.52, a multi-year low, indicating a certain complacency among investors, not in all sectors for sure, but with regards to overall market risk.   Gross domestic product, the value of all goods and services produced, rose at a 1.9 percent annualized rate in the fourth quarter, following the prior quarter’s 3.5 percent rate of growth. For the full year, the U.S. grew just 1.6%, down from a 2.6% clip in 2015; still, even if growth was a bit sluggish, it marks 7 straight years of growth. A wider trade deficit — a negative for GDP — was by far the biggest anchor in the fourth quarter. The economy would have topped 3% growth if the trade gap has basically been unchanged. Consumers increased spending by a solid 2.5%, with strong purchases of big-ticket items such as new cars or computers. Businesses also ratcheted up overall ...

Sinclair Noe interview David Smick, author of “The Great Equalizer: How Main Street Capitalism Can Create an Economy for Everyone”

Sinclair Noe interview Ira Millstein, author of “The Activist Director: Lessons from the Boardroom and the Future of the Corporation”.

…..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 ...

…..Dow, S&P 500 and Nasdaq all hit record highs. Trump will build a wall. Also, an end to sanctuary cities. Also, a major investigation into voter fraud. Also torture “absolutely” works. Also, a ban on refugees. Smog blankets Europe. Earnings reports from BA, UTX, FCX, AA, T, QCOM Financial Review by Sinclair Noe for 01-25-2017   DOW + 155 = 20,068 SPX + 18 = 2298 NAS + 55 = 5656 RUT + 13 = 1382 10 Y + .05 = 2.52% OIL – .36 = 52.82 GOLD – 7.90 = 1201.60     The Dow Industrials topped 20,000 for the first time ever. The S&P 500 and the Nasdaq Composite closed at record highs yesterday. European markets traded higher, with many indexes up by about 1%. Most Asian markets ended the day with gains. The Dow Industrials first hit 10,000 back in 1999 and for the next 10 years, the Dow went up and down multiple times before finally breaking out in 2009. The Dow topped 15,000 in 2013. It only took 43 days to go from 19,000 to 20k. Can it go higher? Sure, a trend in place is more likely to continue than it is to reverse – until it reverses. The Dow Industrial Average first started in 1896 – only one company on that original list is still on the list: General Electric. And the 120-year old Dow hit 1,000 for the first time in 1972; then it crashed 40% and didn’t make it back to 1,000 until ...

…..S&P and Nasdaq hit records. TPP dead. Keystone and DAP revived. Breakfast with Big 3. South China Sea simmers. UK loses Article 50 case. Aetna-Humana and a big threat. Earnings season in full bloom (or bust, depending.) Home resales dry up in December. It’s a La La Land world we live in. Financial Review by Sinclair Noe for 01-24-2017 DOW + 112 = 19,912 SPX + 14 = 2280 NAS + 48 = 5600 RUT + 21 = 1369 10Y + .07 = 2.47% OIL + .31 = 53.06 GOLD – 8.90 = 1209.80   The S&P 500 and Nasdaq set record highs.   It was a busy first day for President Trump. Here are some of the highlights: Withdrew from TPP, promised to renegotiate NAFTA, placed a hiring freeze on federal employees, discussed slashing business regulations by 75%, reinstated the Mexico City policy on banning foreign aid groups from providing abortion counseling and vowed to stop the seizure of South China Sea islands. Trump had breakfast today with the heads of GM, Ford and Fiat Chrysler, as he pressures the Big Three carmakers to boost U.S. employment.   Australia has called for the Trans-Pacific Partnership to go ahead without the U.S. following President Trump’s withdrawal from the 12-nation trade agreement. China’s foreign ministry declined to say whether Beijing would consider any invitation to join the TPP, but a spokesperson instead cited rival trade pacts.   President Trump signed two orders today to move forward with construction of the Keystone XL and Dakota ...

…..TPP axed. Baseline 25 million jobs and 4% GDP. Emoluments matter. Foxconn TVs in USA. Kroger to add jobs. IBM to add jobs – after firing workers. Yahoo under SEC investigation. McDonald’s post-breakfast come down. Halliburton reports mixed earnings. OPEC cuts as expected. Everett Washington sues Purdue Pharma for OxyContin epidemic. United grounded. Hong Kong most expensive. South Korea most innovative. Happy Year of the Rooster. Tax season starts. Have a cookie. Financial Review by Sinclair Noe for 01-23-2017 DOW – 27 = 19,799 SPX – 6 = 2265 NAS – 2 = 5552 RUT – 4 = 1347 10 Y – .06 = 2.40% OIL – .35 = 52.87 GOLD + 7.40 = 1217.40   President Trump is expected to sign an executive order as early as today – intended to renegotiate NAFTA, the free trade agreement between the United States, Canada and Mexico. Trump also signed an executive order pulling out of the Trans-Pacific Partnership (TPP).   In one of first Trump administration orders, the Department of Housing & Urban Development suspended reduction of FHA annual mortgage insurance premium rates. That was a quarter of a percent cut in the mortgage insurance premium for FHA loan holders, announced last week by the U.S. Department of Housing and Urban Development and set to go into effect next Friday, January 27. The reduction was estimated to save the average FHA borrower $500 this year.   The new White House rolled out several policy promises on its new website. The position page on jobs ...

…..ECB Day – no change. Day One tomorrow – lots of change. Jobless claims at 40 year low. Arizona unemployment rate 5%. Dec. housing starts jump. South Korea’s JY Lee not arrested. Brazil Supreme Court Justice dies in plane crash. Credit Suisse pays $5.28 billion for complete garbage. The strange tale of EpiPen and bizarre drug pricing. McCartney sues for his music.   Financial Review by Sinclair Noe for 01-19-2017 DOW – 72 = 19,732 SPX – 8 = 2263 NAS – 15 = 5540 RUT – 12 = 1345 10 Y + .07 = 2.46% OIL + .33 = 51.41 GOLD + .50 = 1204.50 The Dow Industrials erased its gains for 2017 as it fell for the fifth day in a row. The Russell 2000 also turned negative year to date.   The European Central Bank left its quantitative-easing program unchanged at €60-billion-euro per month. Policy makers also kept the main refinancing rate at zero and the deposit rate at minus 0.4 percent. There is little sign that the Governing Council is ready to endorse more hawkish language just yet, even after a jump in inflation to 1.7 percent in Germany. The U.S. dollar rose against its major rivals, recovering off earlier weakness after ECB President Mario Draghi said he didn’t see any “convincing” pickup in Eurozone inflation. The ECB’s renewed commitment to stimulus comes a day after Federal Reserve chair Janet Yellen said the American economy is strong enough to warrant higher interest rates.   Trump’s pick for ...