Financial Review

Stuff Happening


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…..Comey testifies. ECB unchanged. Brits hung up on vote. Brazil’s Temer gets a reprieve. Household wealth jumped in 1Q. Nordstrom private. Hudson’s Bay’s job cuts. Yahoo-Verizon on. Alibaba jumps. Endo loses painkiller.   Financial Review by Sinclair Noe for 06-08-2017 DOW + 8 = 21,182 SPX + 0.65 = 2433 NAS + 24 = 6321 RUT + 18 = 1415 10 Y + .02 = 2.19% OIL + .04 = 45.68 GOLD – 9.20 = 1278.60 We had a bunch of stuff happening today. The Dow Industrials hit a record high intraday, but could not hold on for a record high close. The trading session went from positive to negative and back. The Nasdaq Composite did manage a new record high. But it looks like markets are still trying to digest everything. The S&P 500 traded in a range of about one-half of one percent. The VIX, the volatility index, also known as the “fear gauge,” held at historically low levels. The dollar and bonds both traded lower but nothing out of the daily norm.   Let’s start with the testimony of former FBI Director Jim Comey before the Senate Intelligence Committee. The public hearing lasted nearly 3 hours. I won’t try to recap everything. One or two interesting points. None of the senators questioning Comey tried to claim that Comey was lying about his representation of his meetings with President Trump, however there was sharp disagreement over the significance of their conversations. A one point, Comey said Trump lied. None of ...
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Financial ReviewBy Sinclair Noe