Financial Review

Forget About It


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…Stocks stumble into the holiday. Home price climb. Trade war heats up. WTO warns. Fitch warns. US Chamber of Commerce warns. Trump warns NATO allies. China blocks Micron. Facebook coverup. Tesla cuts corners to almost hit target. Oil higher for the holiday. Have a Happy 4th. Financial Review by Sinclair Noe for 07-03-2018 DOW – 132 = 24,174 SPX – 13 = 2713 NAS – 65 = 7502 RUT + 5 = 1660 10 Y – .03 = 2.83% OIL + .20 = 74.14 GOLD + 10.80 = 1253.30   Stocks started in positive territory but could not hold the gains, even for a holiday shortened session. U.S. financial markets will be closed July 4, in observance of Independence Day. Other global markets will operate on a normal schedule. This week marks the beginning of a new month, new quarter and the start of the second half of the year. U.S. equity markets will enter the second half with paltry gains based on recent history, as the S&P 500 is up less than 2% since the start of the year, and the Dow Industrial Average is in negative territory year-to-date. Returns in the bond market were poor, as Treasury prices fell, sending yields on benchmark long-dated issues up more than 40 basis points since the start of the year; still, not enough to keep the yield curve from flattening; the spread between the 2-year Treasury note and the 10-year note is just 30 basis points. Meanwhile, the dollar strengthened against ...
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Financial ReviewBy Sinclair Noe