…..Another record close for Dow, #7 – most people are not participating. Waiting on jobs report. Mixed earnings reports: Teva slammed. Tesla slams shorts. Mueller’s grand jury. Insurers flee. The Dead Zone in the Gulf. Financial Review by Sinclair Noe for 08-03-2017   DOW + 9 = 22,026 SPX – 5 = 2472 NAS – 22 = 6340 RUT – 7 = 1405 10 Y – .03 = 2.23% OIL – .64 = 48.95 GOLD + 1.70 = 1267.90 Another record close for the down – the seventh consecutive record high close. Back in February we had a string of 12 record highs, which broke a record going back about 30 years. A drop in oil prices dragged on the energy sector. Apple and Amazon were down about 1% each; that was a drag on the Nasdaq and the S&P.   And while the Dow Industrial Average hit a record high of 22-thousand yesterday, that is not necessarily a good barometer of a strong economy. First, the Dow Industrials are only 30 stocks. Whether it’s good for you individually depends on whether you own lots of shares or not. Most people do not own very many shares at all. About half of all equity is owned by the richest 1 million or so families, and another 41% is owned by the rest of the top 10%. The bottom 90% of families own about 9% of outstanding shares. We joke about celebrating record highs on the Dow, and while that is ...