Financial Review

Up and Down


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…..Housing starts down. Manufacturing production drops. Confidence in the economy sputters. Trump goes after H-1B visas. May calls snap elections for UK. BofA best big bank earnings. Goldman flops. J&J disappoints. IBM revenue declines, again. Facebook wants to augment reality. Theranos must pay in Arizona. Financial Review by Sinclair Noe for 04-18-2017 DOW – 113 = 20,523 SPX – 6 = 2342 NAS – 7 = 5849 RUT + 0.71 = 1361 10 Y – .07 = 2.18% OIL – .30 = 52.35 GOLD + 5.20 = 1290.20   One day up, one day down.   Housing starts decreased 6.8 percent to a seasonally adjusted annual rate of 1.22 million units as the construction of single-family homes in the Midwest recorded its biggest decline in three years. Last month’s decline in homebuilding was likely payback after the warm weather pulled forward construction in February. Single-family homebuilding, which accounts for the largest share of the residential housing market, fell 6.2 percent to an 821,000-unit pace last month, retreating from a near 9-1/2-year high. Single-family starts in the Midwest declined 35 percent, likely the result of harsh weather. Still, housing remains on solid footing. Overall building permits increased 3.6 percent, driven by a 13.8 percent jump in the multi-family segment. Though single-family permits fell 1.1 percent last month, they were not too far from the more than nine-year high reached in February.   In a separate report, the Fed said manufacturing production dropped 0.4 percent in March, weighed down by a 3.0 ...
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Financial ReviewBy Sinclair Noe