Financial Review

….Stocks and bonds drop. A busy week on tap: SOTU, FOMC, earnings season, Jobs Report Friday. Consumer spending up, consumer savings down. Dr. Pepper and coffee. More M&A. Crypto-heist in Japan. McCabe out. Wynn in hot water. Falcon Heavy and other Musk flamethrower. Tax day cometh. Financial Review by Sinclair Noe for 01-29-2018   DOW – 177 = 26,439 SPX – 19 = 2853 NAS – 39 = 7466 RUT – 9 = 1598 10 Y + .04 = 2.70% OIL – .62 = 65.52 GOLD – 9.40 = 1340.90   The Dow and the S&P 500 indexes marked their biggest one-day percentage declines in about five months. The S&P 500 is still up 6.7% in January. 10-year Treasury note yields hit their highest since 2014.   This should be a very interesting week. Tuesday evening brings the State of the Union speech. The White House announced last week that the president would release his complete immigration policy framework before the State of the Union, so this will almost certainly be a centerpiece. Also, expect a victory lap for the recently passed tax legislation, plus t

…Record highs for Dow, S&P, and Nasdaq. 4Q GDP at 2.6%; economy grew 2.3% for 2017. Dec. durable goods up 2.9%. Trump floats America First in Davos. Dollar continues to crater. States sue over SALT. The final days of Sears? Bombardier ok. Financial Review by Sinclair Noe for 01-26-2018   DOW + 223 = 26,616 SPX + 33 = 2872 NAS + 94 = 7505 RUT + 6 = 1608 10 Y + .04 = 2.66% OIL + .62 = 66.13 GOLD + 2.00 = 1350.30   More record highs for Wall Street. For the week, the Dow rose 2 percent, the S&P 500 gained 2.2 percent and the Nasdaq advanced 2.3 percent.   Intel was the big winner in the Dow, up over 10% after posting strong earnings with strength in their higher margin data-center business. Intel shares hit their highest level since September 2000. Drugmaker Abbvie gained about 13% after boosting its 2018 earnings forecast with help from U.S. tax reform and announcing it will accelerate dividend growth and share buybacks. Fourth-quarter earnings growth for the S&P 500 is now estimated at 13.2 percent, according

…More records for Do, S&P. New home sales slip. LEI jumps higher. ECB holds pat, Draghi hits US over dollar talk. Trump in Davos – say what? Deaton says US has a poverty problem. Earnings parade: Starbucks, Intel, Cat, 3M. Financial Review by Sinclair Noe for 01-25-2018 DOW + 140 = 26,392 SPX + 1 = 2839 NAS – 3 = 7411 RUT + 2 = 1601 10 Y – .03 = 2.62% OIL – .38 = 65.23 GOLD – 10.40 = 1348.30   Record high close for the Dow and S&P 500.   The Commerce Department reports new home sales dipped 9.3% from the prior month, but 14.1% higher than a year ago. Despite the month-to-month choppiness, full-year 2017 new-home sales were 8.3% higher than in 2016. The median price of new houses sold in December 2017 was $335,400, 2.5% higher than a year ago. At the current pace of sales, it would take 5.7 months to exhaust available inventory, a healthy ratio.   Rates for home loans jumped to the highest level since March. The 30-year fixed-rate mortgage averaged 4.15% during the week ending Jan. 25, according to Freddie Mac

….Dow record high close. Mnuchin and Ross talk dollar in Davos. I’ve seen smarter cabinets at Ikea. Punishing sanctuary. Existing home sales slam up against tight inventory. Earning season rolls along. Toys R Us closing 20% of stores. Bank of America charges usurious rates for deposits. Financial Review by Sinclair Noe for 01-24-2018   DOW + 41 = 26,252 SPX – 1 = 2837 NAS – 45 = 7415 RUT – 11 = 1599 10 Y + .03 = 2.65% OIL + 1.43 = 65.90 GOLD + 16.80 = 1358.70   Speaking at the World Economic Forum in Davos, US Commerce Secretary Wilbur Ross said US trade authorities were investigating whether there is a case for taking action over China’s infringements of intellectual property. Treasury Secretary Steven Mnuchin told reporters in Davos, Switzerland, that short-term weakness “isn’t a concern at all.” He added, “A weaker dollar is good for trade.” Such remarks are a bit unusual. For his part, Wilbur Ross thinks only a cynical person would interpret “weaker dollar is good for U.S. trade” to mean “weaker dollar is

….Dow slips slightly – elsewhere, more record highs. Netflix boffo. J&J and P&G slip. Disney bonus. Kimberley Clark layoffs. Oxfam: inequality grows. Trump to Davos. Tariffs on solar and dishwashers. TPP a go. 3X FANG ETNs. Apple HomePod late to the show. Financial Review by Sinclair Noe for 01-23-2018   DOW – 3 = 26,210 SPX + 6 = 2839 NAS + 52 = 7460 RUT + 5 = 1610 10 Y – .04 = 2.62% OIL + .97 = 64.54 GOLD + 7.80 = 1341.90 The Nasdaq composite led the major indices, and Netflix was a leader on the Nasdaq. After the close yesterday, Netflix reported earnings and strong subscriber growth. Netflix is one of the 20 largest components of the Nasdaq, with a 0.7% weighting. Netflix shares shot up to all-time highs after last evening’s fourth-quarter results. The video streaming company added 8.33 million new subscribers worldwide in Q4, despite a hike in subscriber fees. The stock earned a slew of price-target increases from Wall Street analysts.   A federal court ruled against Johnson & Johnson in the company’s pa

…Dow, S&P 500, Nasdaq, and Russell hit new record highs. Shutdown is over for a few weeks. Penn gerrymandered. Rocky Mountain high in Vermont. M&A galore. Netflix nation. IMF forecast calls for solid growth with a chance of a market correction. Financial Review by Sinclair Noe for 01-22-2018 DOW + 142 = 26,214 SPX + 22 = 2832 NAS + 71 = 7408 RUT + 7 = 1605 10 Y + .03 = 2.66% OIL + .29 = 63.66 GOLD + 2.50 = 1333.10   Record highs for the Dow, S&P 500, Nasdaq, and Russell.   You would think something like the threat of a government shutdown or an actual government shutdown would serve as a catalyst to spook some weaker holders out of the market, but that didn’t happen, which speaks to underlying strength of what we’re seeing right now in equity markets.   The government shutdown is almost over, maybe. Roughly 60 hours after the federal government first shut down, a bipartisan group of negotiators in the Senate prevailed with leadership, trading Democratic support for reopening the government for a commitment by

….Trump’s first year in stocks, good but not great. Waiting on the government shutdown – what to expect. 10-year yields at 4 year high. Consumer sentiment drops. Amazon hikes for prime. General Electric demotion. IEA says US is now a petrostate. SEC wary of bitcoin. Financial Review by Sinclair Noe for 01-19-2018   DOW + 53 = 26,071 SPX + 12 = 2810 NAS + 40 = 7336 RUT + 20 = 1597 10 Y + .03 = 2.64 OIL – .39 = 63.56 GOLD + 4.20 = 1331.60   A late rally lifted stocks into positive territory in the final hour or so of trade. For the week, the Dow rose 1.04 percent, the S&P 500 added 0.86 percent and the Nasdaq gained 1.04 percent.   The stock market has rallied during Trump’s first year in the White House, with the S&P 500 up nearly 24%. But here’s a surprise: It did even better during President Obama’s first year, rising 35.3%. And how did US markets stack up against the rest of the world. Based upon returns in the Vanguard Total Stock Market Index Investor (VTSMX) and the Vanguard Total International Stock Mar

….Stocks slip. Shutdown looms. Amazon HQ2 – and then there were 20. Jobless claims fall. Morgan Stanley beats. AmEx loss. IBM has revenue. Why all the tax charges? Construction slips. Remodeling booms. Financial Review by Sinclair Noe for 01-18-2018   DOW – 97 = 26,017 SPX – 4 = 2798 NAS – 2 = 7296 RUT – 9 = 1576 10 Y + .03 = 2.61% OIL – .19 = 63.78 GOLD – .20 = 1327.40   Wall Street paused to catch a breath. Yields on the 10-year Treasury hit a 10-month high.   The threat of a government shutdown is looming this week even as lawmakers prepare to vote on a stopgap bill to keep operations going for roughly another month. Funding is due to expire early Saturday morning. House lawmakers plan to vote later this evening on a bill keeping the government open through Feb. 16. Although at this moment it looks like conservatives in the House Freedom Caucus are withholding their support from the House GOP bill.  That continuing resolution doesn’t address the Deferred Action for Childhood Arrivals program, something tha

….Stock indices hit records. Dow 26k. Beige Book hints at inflation. Goldman trading slips. BofA better than expected. A mysterious “single client”. Apple brings cash home. Bitcoin breaks $10,000. Financial Review by Sinclair Noe for 01-17-2018   DOW + 322 = 26,115 SPX + 26 = 2802 NAS + 74 = 7298 RUT + 13 = 1586 10 Y + .03 = 2.58% OIL + .33 = 64.06 GOLD – 11.40 = 1327.60 The Dow Industrials closed above 25,000 on January 4th. It took 7 trading sessions to cross the 26,000 milestone, and 8 trading sessions to close above – the fastest-ever traverse of 1,000 points on the Dow. Boeing shares were up 3.5%, or around $12, and contributed about 80 points to that burst higher. A $1 move in any one of the price-weighted Dow’s 30 components equates to a 6.8-point swing. We still have 2 days until a possible government shutdown and Wall Street seems completely unconcerned.   The Federal Reserve published its Beige Book today; this is an observational report from the various Fed districts, published 2 weeks before a FOM

….Dow breaks 26k and fades. Gov shutdown? Inflation in your future? Earnings news: BP, Citi, UnitedHealth. Wells Fargo redline. States sue for net neutrality. Bitcoin breakdown. Detroit Auto. Alibaba AI can read better than you. Financial Review by Sinclair Noe for 01-16-2018   DOW – 10 = 25,792 SPX – 9 = 2776 NAS – 37 = 7223 RUT – 19 = 1572 10 Y – .01 = 2.54% OIL – .56 = 63.74 GOLD – 1.60 = 1339.00 The Dow first closed above 25,000 on January 4. Today, 7 trading days later, the Dow Industrial Average broke through 26,000 this morning, then faded, then it turned negative.  And next thing you know, the Dow lost more than 380 points from the intraday high to the intraday low; a 294 point swing from intraday high to close. If you look at year-to-date performance, you have the broad popular indices up roughly 3 to almost 5 percent in two weeks’ trading. That’s fairly aggressive, and so today there was a pause – a fairly volatile pause. We are still very early in the earnings reporting season, but so far, more tha

….Record highs on Wall Street. CPI up. Hints of inflation. Fed on course. Retail was strong. JPM and WFC report strong earnings. NYC sues big oil. Facebook changes algorithms. Another new low for Trump. Financial Review by Sinclair Noe for 01-12-2018   DOW + 228 = 25,803 SPX + 18 = 2786 NAS + 49 = 7261 RUT + 5 = 1591 10 Y + 2 = 2.55% OIL + .60 = 64.40 GOLD + 16.40 = 1339.30   Record highs for the Dow, S&P, Nasdaq and Russell 2000. Go figure. Markets will be closed on Monday in observance of Martin Luther King, Jr. Day.   The consumer price index rose 0.1% in December. If gas and food are stripped out, the so-called core rate of inflation rose a much sharper 0.3%, the highest reading in almost a year. The 12-month rate of inflation as measured by the CPI slipped to 2.1% from 2.2%. The more closely followed core rate edged up 1.8% from 1.7%, but it’s been stuck in that range for eight months in a row. The increase in the cost of living last month was tied largely to increasing rents and home prices. Also contri

Sinclair Noe interview with Anthony Davenport, author of “Your Score: An Insider’s Secrets to Understanding, Controlling, and Protecting Your Credit Score” The post Anthony Davenport appeared first on Eat the Bankers.com.

….Record highs for Dow, S&P 500, Nasdaq, Russell. Producer prices fall in Dec. DACA deal dead. Walmart breaks the bank to $11 an hour plus bonus, closes 63 Sam’s Clubs. South Korea cracks down on cryptocurrency. Financial Review by Sinclair Noe for 01-11-2018   DOW + 205 = 25,574 SPX + 19 = 2767 NAS + 58 = 7211 RUT + 26 = 1586 10 Y – .02 = 2.53% OIL + .01 = 63.58 GOLD + 5.60 = 1322.90   Dow, S&P, Nasdaq, Russell close at record highs.   The S&P 500 hasn’t retreated 3%, either in a single day or over several days, since early November 2016 – the longest streak of calm in market history. There are reasons for the good times on Wall Street. The US and global economies are doing great. Even Europe is on the upswing. Corporate profits have never been stronger – and the tax law should give earnings a boost. The Federal Reserve hasn’t abandoned its plan to raise interest rates just gradually. Investors have also brushed aside a rapid increase in bond yields. China’s foreign-exchange regulator dismissed reports sugge

….Stocks actually dropped. 10-year note hit 2.60%; China balks on buys. Import prices inch higher. Korean talks. Offshore oil drilling (not quite) plan. DACA delayed. NAFTA collapsing? Tapping home equity. Goodbye cashiers. Kadakcoin. Financial Review by Sinclair Noe for 01-10-2018   DOW – 16 = 25,369 SPX – 3 = 2748 NAS – 10 = 7153 RUT – 0.30 = 1559 10 Y un = 2.55% OIL + .50 = 63.46 GOLD + 3.70 = 1317.30   The S&P and the Nasdaq have closed at record highs every single day in 2018, until today.  Earnings for S&P 500 companies are expected to increase by 11.8 percent, with biggest contribution from the energy sector, according to Thomson Reuters. Crude oil topped $63 a barrel. The S&P financial index rose more than 1 percent, helped by gains in Wells Fargo and JPMorgan ahead of earnings results on Friday.   Early this morning the yield on the 10-year Treasury note hit 2.60%. Chinese officials have recommended the country slow or halt its purchases of the US bonds. Maybe the Chinese do not think US bonds are a

…Record highs for the Dow, S&P 500, and Nasdaq. Job openings drop. No patch for Meltdown & Spectre. Target on target. No Bitcoin ETF. A brief history of government shutdown. Arpaio’s back. Here comes the rain. Financial Review by Sinclair Noe for 01-09-2018 DOW + 102 = 25,385 SPX + 3 = 2751 NAS + 6 = 7163 RUT – 1 = 1560 10 Y + .07 = 2.55% OIL + 1.21 = 62.94 GOLD – 6.30 = 1314.40   Record highs for the Dow, S&P 500, and Nasdaq. The S&P 500 has started the new year with a string of 6 record highs – the best start to a new year since 1964. The index has gone 387 sessions without a 5% drawdown, the second-longest stretch in the history of the index; the longest streak is 394 days…, so.   Job openings fell for a second straight month in November, with declines in the manufacturing and real estate sectors. The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department, also found that layoffs dropped to a six-month low. Job openings, a measure of labor demand, fell by 46,000 to a sea

…Record highs for the S&P, Nasdaq, and Russell 2000. Earnings soon. Gov shutdown? Offshore oil and gas. 2017 and bad weather. Driving Fed policy. OK Google, what is CES? Kohl’s good Xmas. Credit card debt nears milestone. Financial Review by Sinclair Noe for 01-08-2018   DOW – 12 = 25,283 SPX + 4 = 2747 NAS + 20 = 7157 RUT + 1 = 1561 10 Y un = 2.48% OIL + .46 = 61.90 GOLD + 1.10 = 1320.90   Record highs for the S&P, Nasdaq, and Russell 2000. Stocks started in negative territory this morning. The S&P and Nasdaq soon turned positive, but the Dow Industrials floundered around break-even. The Dow was up 2.3% last week; that’s the strongest kickoff to a year through four trading days since 2003, and it broke through 25,000. The Nasdaq continues to enjoy the tech rally from stocks like Nvidia and Micron – and the FAANG stocks are still acting FAANGy. The Nasdaq was 3.4% higher last week. That’s the Nasdaq’s best start to a new year since 2006. It’s normal — and even healthy — for the stock market to take a breather

….Record highs for the Dow, S&P 500, Nasdaq, and Russell 2000. 148,000 new jobs in December. Unemployment rate at 4.1%. U-6 ticks up to 8.1%. Wages continue to disappoint…. Financial Review by Sinclair Noe for 01-05-2018 DOW + 220 = 25,295 SPX + 19 = 2743 NAS + 58 = 7136 RUT + 4 = 1560 10 Y + .02 = 2.48% OIL – .42 = 61.59 GOLD – 3.20 = 1319.80   Record highs for the Dow, S&P 500, Nasdaq, and Russell 2000. The Bureau of Labor Statistics reports the economy added 148,000 new jobs in December. The unemployment rate held steady at 4.1% for the third consecutive month. Most estimates had been in the 180,000 to 200,000 range, so today’s report was a bit disappointing. The agency also issued revised figures for the two most recent months, dropping the October number from a gain of 244,000 to a gain of 211,000 and raising the November result from 228,000 to 252,000. Together, those months’ gains are now 9,000 less than had been previously reported. And the December results represent a sharp drop. However, just becaus

Sinclair Noe interviews Anthony Nieves, chair of the Institute for Supply Management (ISM) Mon-manufacturing Business Survey Committee. December 2017 NMI at 55.9%. More info at InstituteforSupplyManagement.org  The post Anthony Nieves – ISM appeared first on Eat the Bankers.com.

….Dow, S&P, Nasdaq, and Russell hit record highs. Intel’s Meltdown and Spectre. Krzanich sells early. Capital One – what’s in your wallet? AG Sessions announces war on the evil weed… Financial Review by Sinclair Noe for 01-04-2018 DOW + 152 = 25,075 SPX + 10 = 2723 NAS + 12 = 7077 RUT + 3 = 1555 10 Y + .01 = 2.45% OIL + .28 = 61.91 GOLD + 9.90 = 1323.40   Record highs for the major stock indexes. The big news was the Dow breaking through the 25,000 milestone. The Dow posted 71 record highs last year, and 2 records this week. It passed 24,000 on Nov. 30.  It took the measure 35 calendar days to achieve the feat, tying the fastest move on record. The gain of 1,000 points was just over 4 percent. 25,000 is impressive, but it is just another number. It does not mean a correction is imminent, and it doesn’t mean stocks will never drop. At most it serves as a reminder to rebalance your portfolio.   The company behind the Dow’s sky-high performance is Boeing, the plane maker. Over the last year, the Dow is up approx

….Record highs for Dow, S&P, Nasdaq, and Russell 2K. Fed minutes. Manufacturing win-win. Construction spending up. Car sales. Crude hits $61. Bombogenesis…. Financial Review by Sinclair Noe for 01-03-2018   DOW + 98 = 24,922 SPX + 17 = 2713 NAS + 58 = 7065 RUT  + 17 = 1552 10 Y – .02 = 2.45% OIL + 1.56 = 61.93 GOLD – 4.60 = 1313.50   Record highs for the Dow, S&P, Nasdaq, and Russell 2000. The Dow looks to be taking a bead 25k. The S&P cruises past 2700, while the Nasdaq popped through 7,000 and just kept running. Forget about the drama and dysfunction in Washington. Forget about geopolitical uncertainty. Forget about the cyclone bomb – the incredible cold weather blasting much of the country. Stocks just keep rolling higher without a worry – the Vix dropped below 9. Today marks only the fifth time in history that the Vix has dropped below 9. When the markets stop being fearful, it is usually time to be afraid.   The holidays provided a respite from economic data, but today featured a slew of news. Details of