…..Why flights were canceled in PHX. Oil in bear market. Fed heads dovish, more or less. Account deficit grows. Ford to China. China to EEM. Tesla not at fault. Russia-Iran sanctions glitch. Barclays behaving badly. Financial Review by Sinclair Noe for 06-20-2017 DOW – 61 = 21,467 SPX – 16 = 2437 NAS – 50 = 6188 RUT – 15 = 1402 10 Y – .04 = 2.15% OIL – .97 = 43.23 GOLD – 1.00 = 1243.60 Tomorrow is the first day of summer. And it is too hot. The National Oceanic Atmospheric Administration reported Monday that the average global temperature in May 2017 was 1.49 degrees above the 20th-century May average of 58.6 degrees. This May was the third-hottest on record since the organization began collecting data in 1880. Phoenix has hit 120 only three times in recorded history — the last time 22 years ago. The record high was 122 degrees on June 26, 1990. We hit reached 118 on Monday, which the National Weather Service says is rare. In fact, temperatures at that mark or higher have only been recorded 15 times since record-keeping started in 1896.   Dozens of flights at Arizona’s Phoenix Sky Harbor airport were delayed or canceled on Monday and Tuesday, and airlines are limiting the number of seats sold, to prevent the planes from exceeding maximum weight for safe takeoff in the hot conditions. Most of the smaller, commuter planes have a maximum operating temperature of 118 degrees. Larger planes made ...