Financial Review

…Fed minutes point to more tightening. Tax cuts lead to big deficits and moves to cut Social Security and Medicare. Small stocks suffer. BofE leery of leveraged loans. Why Saudis won’t weaponize oil prices. Legalization Day in Canada. Financial Review by Sinclair Noe for 10-17-2018 DOW – 91 = 25,706 SPX – 0.71 = 2809 NAS – 2 = 7642 RUT – 7 = 1589 10 Y + .02 = 3.18% OIL – 1.88 = 70.04 GOLD – 2.60 = 1222.90   Minutes of the Sept. 25-26 Federal Open Market Committee session were released today. Federal Reserve policymakers remain convinced that continuing to gradually increase interest rates is the best formula to preserve a steady economy. A summary of the Sept. 25-26 Federal Open Market Committee session reflected both confidence in the rate of economic growth and some hesitancy over the impact that tariffs might have on the future path. Ultimately, the committee unanimously voted to approve a quarter-point hike to its benchmark rate target, with members indicating that more increases are on the way. The incre