Financial Review

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…..Stocks slip for the week. Focus on tax cuts but the devil is in the details. Oil drops. Consumer sentiment up. 3 men v. 160 million. Baba’s Singles’ Day. Earnings. Veterans Day tomorrow – thank you. Financial Review by Sinclair Noe for 11-10-2017   DOW – 39 = 23,422 SPX – 2 = 2582 NAS + 0.89 = 6750 RUT + 0.25 = 1475 10 Y + .07 = 2.40% OIL – .31 = 56.86 GOLD – 8.90 = 1276.60   The S&P 500 and the Dow Jones Industrial Average ended the week lower for the first time in nine weeks. For the week, the Dow lost 0.5 percent and the S&P 500 slipped 0.2 percent. The Nasdaq gave up 0.2 percent for the week, snapping six weeks of weekly gains.   The yield on 10-year Treasuries punched through 2.40 percent, joining a spike in European sovereign rates. Junk bonds stabilized after 3 days of declines. Global equities hit historic highs during the week as investors were encouraged by solid earnings and synchronized global economic growth.   Wall Street remained focused on Washington and the promise of tax cuts. Republican tax writers in the House and Senate are scrambling to find ways to make the math work on their respective tax plans. The House Ways and Means Committee hammered together a bill and sent it toward the House floor for a vote promised next week, while the Senate Finance Committee revealed a proposal it intends to mark up on Monday. After ...
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Financial ReviewBy Sinclair Noe