Financial Review

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New record high close. Band of England no change. Earnings reporting season. PPI up. Unemployment claims unchanged. New home sales up. Line Corp IPO. Google antitrust in EU. FCC opens up a 5G world. Financial Review by Sinclair Noe for 07-14-2016 DOW + 134 = 18,506 SPX + 11 = 2163 NAS + 28 = 5034 10 Y + .07 = 1.54% OIL + .75 = 45.50 GOLD – 7.70 = 1335.60   The S&P and Dow closed at record highs. The S&P hit 2,168.99, its fourth straight intraday record peak, while the Dow hit 18,537.57 to mark its third straight intraday record high.   The Bank of England took markets by surprise, making no change to interest rates. The call to leave rates unchanged at 0.5% was largely unexpected by investors, as traders had priced in a more than 80% chance of a rate cut to a record low of 0.25%. The BOE said in a statement that most of the policymakers expect to loosen monetary policy by August; apparently they just need a little more time to put together a package of measures to stimulate growth. Maybe they are just trying to keep their powder dry.   U.S. producer prices jumped 0.5% in June — the biggest increase in more than a year — largely owing to higher oil prices and margins for financial services. Yet inflation overall remains muted. In the past 12 months, the producer price index has advanced 0.3%, the first year-over-year increase since the end of ...
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Financial ReviewBy Sinclair Noe