Financial Review

The Parade Passing By


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…..House barely passes budget, now the fighting starts. Opioid emergency, not a national emergency. ECB cuts QE but rates will be lower for longer. A parade of big tech earnings: Amazon, Alphabet, Microsoft, Intel. Plus: UPS, Ford, etc., etc. Financial Review by Sinclair Noe for 10-26-2017     DOW + 71 = 23,400 SPX + 3 = 2560 NAS – 7 = 6556 RUT + 3 = 1497 10 Y + .01 = 2.45% OIL + .63 = 52.81 GOLD – 11.00 = 1267.20   Up 100, down 100, up 100 then drifting lower. The Dow and the S&P moved higher today. The Nasdaq closed in the red as biotech took a beating. Welcome to earnings reporting season. After the closing bell, we watched a parade of the biggest tech companies report better than expected earnings. Tomorrow, Apple launches iPhone X.  Also, tomorrow the Commerce Department releases its first look at gross domestic product for the third quarter. The consensus is that the economy likely expanded at a 2.6 percent annualized rate in the three months ended Sept. 30, which is in-line with recent history.   Republicans pushed a $4 trillion budget through the House today by a thin margin. For now, Republicans sidestepped divisions within the party by voting 216-212 to permit them to begin work on a $1.5 trillion tax cut without fear of a filibuster by Democrats. This is just a first step, GOP tax-writers pick winners and losers among interest groups, business sectors and rank-and-file voters. The ...
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Financial ReviewBy Sinclair Noe