Financial Review

Stormy Weather


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…..Waiting on the Fed. CBO has numbers on the new American Health Care Act – and they are terrible. Intel buying Mobileye to drive into the future. Lloyds outsourcing jobs to IBM. South Korea’s Park out. No Bitcoin fund. Escondida strike. Icahn loads up on Herbalife. Changes in credit scores. Nor’easter on the way. Financial Review by Sinclair Noe for 03-13-2017 DOW – 21 = 20,881 SPX + 0.87 = 2372 NAS + 14 = 5875 RUT + 5 = 1370 10 Y + .03 = 2.61% OIL – .07 = 48.42 GOLD – .80 = 12-04.70   The Dow Jones industrial average, S&P 500 and Nasdaq all turned in lackluster performance last week, with each posting declines of 0.2% to 0.5%. However, they’re still not far from all-time highs set in early March; the S&P is down about 1% from its record high. According to Ritholtz Wealth Management, the average stock in the S&P was down just 10% from its 52-week high, and the median stock was off 6% from this high. If it sounds like the math doesn’t add up, consider that the S&P is a market-capitalization weighted index; meaning the biggest stocks count for more than the smaller stocks.   The Federal Reserve is expected to hike interest rates when they wrap up their policy meeting on Wednesday; there are also monetary decisions due from the Bank of Japan and the Bank of England on Thursday; German Chancellor Angela Merkel will meet President Trump; and The Netherlands is holding a closely-watched election. Plus, the U.K. could ...
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Financial ReviewBy Sinclair Noe