Dow record high again. Earnings beat diminished expectations. MS, INTC, AXP. VW investigated all the way to the top. Turkey purge. HSBC arrests. The long, strange, fraudulent trip of 1MDB. Bud deal approved. Aetna-Humana, not so much. Financial Review by Sinclair Noe for 07-20-2016 DOW + 36 = 18,595 SPX + 9 = 2173 NAS + .53 = 5089 10 Y + .03 = 1.59% OIL + .29 = 44.94 GOLD – 16.40 = 1316.30 The Dow Industrial Average is on a 9-day winning streak; its longest winning streak since March 2013. The Dow and S&P 500 have set multiple record closing highs in recent days. But the Nasdaq remains 3.5 percent away from its record close. A 9-day winning streak for the Dow has only happened 7 times since 1980. In each of the other six instances, the index has been up the following six months with an average gain of 10.41%. Going back to 1900, a 9-day streak has happened 30 times and the average gain in the following six months has been 5.96%. The dollar is at a four-month high against a basket of currencies, bolstered by strong economic data and growing expectations the Fed may raise rates before the end of the year. The dollar index is trading above 97, its highest level since March 10. Fed funds futures rates now suggest a 40% chance of a rate hike in December, compared with less than 20% a few weeks ago. Treasuries declined, with the 10-year yield ...