Financial Review

Never Ending Pi


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…..Waiting on the Fed. Saudis cheat on cuts. PPI pops. Small biz optimism dips. FDIC calls for Glass-Steagall (ish). Low volatility on Wall Street. Neiman Marcus sales. Moneygram sweetener. Goodbye Ruby Tuesday? Brexit coming. Wayne Tracker, CEO. EPA cuts; mayors fight back. Goodenough battery breakthrough. Happy Pi Day. Financial Review by Sinclair Noe for 3.14159…2017 DOW – 44 = 20,837 SPX – 8 = 2365 NAS – 18 = 5865 RUT – 7 = 1362 10Y – .02 = 2.59% OIL – .45 – 47.95 GOLD – 5.10 1199.60   The Federal Reserve Federal Open Market Committee is meeting today and tomorrow to determine monetary policy. Fed policymakers have clearly indicated they will raise the overnight benchmark interest rate by 25 basis points to a range of 0.75 percent and 1.00 percent,  and may signal there could be even more than the three rate rises they have forecast for this year.   While the Fed meeting is the focus for markets this week, investors also have to assess the impact of central bank meetings in Britain and Japan, a gathering of G20 finance chiefs, President Trump’s first budget and an election in the Netherlands. The dollar index rose 0.3%. Yields on benchmark 10-year German government bonds briefly hit 14-month highs above 0.5%, before reversing. Oil fell to 3-1/2-month lows after Saudi Arabia announced it has reversed about one-third of its production cuts and the Organization of the Petroleum Exporting Countries (OPEC) reported oil stocks were still rising despite agreed output cuts.   US ...
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Financial ReviewBy Sinclair Noe