Financial Review

Times Are Changing


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…..Stock market hits support and bounces. China’s export paint an ugly picture. Government workers quit. Oil inventories up. US strikes Yemen. Losses from Hurricane Matthew, and more coming. Earnings news.  Deutsche hiring freeze. HP layoffs. Amazon hiring for holidays. Facebook-Alphabet lay cable to Hong Kong. The gig is up at Uber. Dylan really is a poet. Financial Review by Sinclair Noe for 10-13-2016 DOW – 45 = 18.098 SPX – 6 = 2132 NAS – 25 = 5213 10 Y – .04 = 1.74% OIL + .37 = 50.55 GOLD + 2.90 = 1258.80   Today’s trading started with a sharp dive, followed by a slow drift higher (still finishing in negative territory). At one point, the Dow dropped to 17,959, or a 185 point decline. The S&P 500 index dropped as low as 2114, taking out the lows set in early September. And that is where some support came in. The question is whether support can hold.  With the holidays coming up, bears would need to strike during the next couple of weeks. Otherwise, we’ll go into the low-volume year-end mode and the window for a correction would close until the New Year. Minutes from the September FOMC meeting… Many members thought raising rates would be warranted “relatively soon” if the U.S. economy continued to strengthen, but internal divisions remained over the timing of the next move. Relatively soon probably means a December rate hike. Some Fed hawks thought that waiting too long to hike could lead to a recession, ...
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Financial ReviewBy Sinclair Noe