…..Fed minutes point to June rate hike and slowly shrinking balance sheet. CBO scores AHCA and it is ugly. Trump and Pope Francis. Previously owned home sales sputter. China’s credit rating cut. Brazil ablaze. Fiat Chrysler pulls a VW. Facebook buying news.   Financial Review by Sinclair Noe for 05-24-2017   DOW + 74 = 21,012 SPX + 5 = 2404 (record) NAS + 24 = 6163 RUT + 1 = 1382 10 Y – .02 = 2.26% OIL – .15 = 51.32 GOLD + 7.90 = 1259.60   After 5 straight winning sessions, the S&P 500 closed at a new record high. The Nasdaq Comp is near a record.   The Federal Reserve released minutes of their May 3rd FOMC policy meeting. The statement points toward a rate hike as soon as the Fed’s meeting in mid-June. According to minutes: “Most participants judged that if economic information came in about in line with their expectations it would soon be appropriate for the committee to take another step in removing some policy accommodation.” Officials opted at the May meeting to leave the target range for their benchmark lending rate unchanged at 0.75 percent to 1 percent. They have projected three rate increases in 2017. They made the first rate hike in March. If they follow with 2 more hikes this year, we would be looking at rates around 1.25% to 1.5% by the end of the year, with a strong possibility for 4 more hikes next year.  Fed officials discussed ...