Financial Review

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…Down week for stocks. Brexit is complete chaos. No deal with China. Fed’s Clarida can see neutral. Florida’s hand recount. Floridians re-enfranchised. Acosta gets a pass. Pfizer hikes drug prices. Financial Review by Sinclair Noe for 11-16-2018 DOW + 123 = 25,413 SPX + 6 = 2736 NAS – 11 = 7247 RUT + 3 = 1527 10 Y – .04 = 3.07% OIL + .37 = 56.83 GOLD + 8.10 = 1222.10   The S&P 500 fell 1.6 percent this week, while the Dow Jones Industrial Average and Nasdaq Composite both declined more than 2 percent. Technology, the biggest sector in the S&P 500 by market cap, was the second-worst performer this week, falling 2.5 percent. The sector dropped following a 5.4 percent decline in Apple. Wall Street analysts worry iPhone sales will slow down. Tech-related shares like Amazon and Netflix were also down 7 percent and 5.7 percent, respectively. Sharp losses in Nvidia dragged down the chips sector and the overall tech sector. Retailers were also down sharply this week. The SPDR S&P Retail ETF (XRT) pulled back 4.5 percent this week as Black Friday approaches. Shares of Nordstrom and Williams-Sonoma fell 13.7 percent and 11.2 percent on Friday, respectively, as their quarterly reports disappointed investors.   Stocks moved higher today after Trump said China wants to make a deal on trade. That announcement helped push the Dow Industrials up about 200 points. But White House officials immediately after Trump’s remarks warned that people should not read too ...
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Financial ReviewBy Sinclair Noe