Financial Review

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S&P record. GDP slumps. BOJ passes and preps for helicopter money. Eurobanks graded on a curve. Earnings good for tech and bad for oil. This ABInBev-SABMiller Bud’s for you. Financial Review by Sinclair Noe for 07-29-2016 DOW – 24 = 18,432 SPX + 3 = 2173 NAS + 7 = 5162 10 Y – .06 = 1.45% OIL + .24 = 41.38 GOLD + 15.80 = 1351.40   The S&P 500 index hitting a record intraday high for the seventh time this month as gains in tech heavyweights Alphabet and Amazon more than made up for losses in energy shares. The S&P 500 index rose as much as 0.3 percent, touching an all-time high of 2,177.09, and completed its fifth straight month of gains. For the week, the Dow fell 0.75 percent, the S&P edged down 0.07 percent and the Nasdaq rose 1.2 percent. In July, the Dow rose 2.8 percent, the S&P climbed 3.6 percent and the Nasdaq gained 6.6 percent.     The U.S. economy grew far less than expected in the second quarter. Gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first quarter. The economy was previously reported to have expanded at a 1.1 percent pace in the first quarter. This is the first estimate on second quarter GDP, but economists had forecast growth rising at a 2.6 percent rate.   Inventory investment fell for the first time in nearly five years. Once the ...
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Financial ReviewBy Sinclair Noe