Financial Review

Nasty


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…..Jobless claims up. Existing home sales up. Housing market in a sweet spot. AZ unemployment drops to 5.5%. ECB stands pat. Wells Fargo criminal investigation for I.D. theft. WFC had targets. A new WSJ? Qualcomm/NXP? AT&T/Time Warner? Earnings news: Microsoft all-time high. We stopped eating donuts for the election. Nasty stuff. Financial Review by Sinclair Noe for 10-20-2016.   DOW – 40 = 18,162 SPX – 2 = 2141 NAS – 4 = 5241 10 Y un 1.75% OIL – 1.21 = 50.61 GOLD – 3.70 = 1266.20 The number of Americans filing for unemployment benefits increased by 13,000 to 260,000 for the week ended October 15. That marked 85 straight weeks of claims below the 300,000 threshold normally associated with a strong jobs market, the longest such period since 1970. Part of the increase in claims last week could be related to the effects of Hurricane Matthew, which could have left some people temporarily out of work.   The National Association of Realtors reports existing home sales rose 3.2 percent to an annual rate of 5.47 million units, the quickest pace since June. The increase in existing home sales was broad-based across four major regions tracked by the NAR, with gains reported in the Northeast, Midwest, South and West. Inventories remained tight, with 2.04 million homes on the market. That was up 1.5 percent from the prior month, but 6.8 percent lower than in September 2015; enough to push the median price up 5.6 percent from a year ago ...
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Financial ReviewBy Sinclair Noe