Financial Review

The Fed Said…


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Fed no change but hints at hikes. Durable goods orders drop. Pending home sales up. Oil in a bear. Apple sold one billion. Facebook crushes it. Analog Devices buying Linear Tech. State Street misconduct. You can’t win if you don’t play – good luck. Financial Review by Sinclair Noe for 07-27-2016   DOW – 1 = 18,472 SPX – 2 = 2166 NAS + 29 = 5139 10 Y – .04 = 1.52% OIL – 1.01 – 41.91 GOLD + 20.00 = 1340.72   The Federal Reserve wrapped up its FOMC meeting today. As expected, they left interest rates unchanged. In a written statement, the Fed opened the door a bit to making an interest-rate increase at its next meeting in September. A specific change in the language of the statement said, “Near-term risks to the economic outlook have diminished.” That’s a stronger hint than most analysts had expected. In the statement, Fed officials painted a picture of an improving economy. “Information received since the Fed policy committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate,” the Fed said.   Job gains were “strong” in June, and household spending has been growing at a brisk clip, the Fed said. Yet the central bank also noted that business investment remained “soft.” At the same time, Fed officials said they would continue “to closely monitor inflation indicators and global economic and financial developments.” Prior to the announcement, Fed fund futures, ...
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Financial ReviewBy Sinclair Noe