Financial Review

Seventy-Seven


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…Small caps hit another record. Yields continue march higher. Homebuyers rush for deals. EU angry with Trump. China turns to Russia for soybeans. Mueller probe anniversary. CBS v. Redstones. Kroger-Ocado. Paypal-iZettle. Wells Fargo, again. Financial Review by Sinclair Noe for 05-17-2018 DOW – 54 = 24,713 SPX – 2 = 2720 NAS – 15 = 7382 RUT + 8 = 1625 10 Y + .01 = 3.11% OIL + .08 = 71.57 GOLD un 1291.20 Stocks fell, at least the big cap stocks. Small caps continued a rally that has pushed the Russell 2000 to two straight sessions of record highs. Tech stocks were down after a less than satisfying earnings report from Cisco Systems, which dropped 3.8%. Shares of Applied Materials fell 2% in after-hours trade, as the chipmaker materials supplier’s sales outlook came in below the Wall Street consensus. Nordstrom shares fell more than 5% in late trading after the retailer posted first-quarter results above expectations but same-store sales rose less than expected. Walmart posted an earnings and sales beat. The big number for Walmart was a 33% jump in digital sales. The bad news for Walmart is that most of what they sell is food and people don’t buy food online. Walmart shares dropped 2% today.   Investors continue to monitor a rise in bond yields; the yield on the 10-year Treasury note rose near a seven-year high. That pressured the defensive sectors of the market, such as utilities and real estate, both of which offer higher ...
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Financial ReviewBy Sinclair Noe