Financial Review

Water Wars


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…..3Q GDP strong. Home sales improve. Confidence high. Cyber sales sizzle. Oil prices bet against OPEC. You can’t have Brexit cake and eat it. Allstate-Squaretrade. Zika in Texas. McFly sneakers. Lake Mead is shrinking and a cross-border water-sharing pact might dry up and blow away. Financial Review by Sinclair Noe for 11-29-2016   DOW + 23 = 19,121 SPX + 2 = 2204 NAS + 11 = 5379 RUT – 1 = 1328 10 Y – .02 = 2.30% OIL – 1.82 = 45.26 GOLD – 5.40 = 1189.40   The Nasdaq Composite hit a new intraday high at 5403, but the major indices could not close at new highs.   The economy grew at the fastest pace in over two years in the third quarter. Gross domestic product expanded at a 3.2% annual rate, up from an earlier reading of 2.9%. Consumer spending rose 2.8% in the quarter, stronger than the original estimate of 2.1% and the strongest pace since 2002. Another big contribution to the economy was business investment in structures like offices and factories, which expanded at a 10.1% pace, faster than the initial estimate of a 5.4% clip. Corporate profits soared 6.6% in the third quarter, a much better performance than the 0.6% decline in the second. And after-tax profits were up 7.6% from the second quarter. Exports were marked up slightly, to a 10.1% gain from 10.0%, largely thanks to a surge in soybean exports.   Gross domestic income was up 5.2% in the third ...
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Financial ReviewBy Sinclair Noe