Financial Review

Blame Columbus

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Synopsis

…Stocks flounder. Google’s breach. SCOTUS returns tomorrow. Brazil elections. Nordhaus and Romer win Nobel Economics. UN climate change report. Financial Review by Sinclair Noe for 10-08-2018 DOW + 39 = 26,486 SPX – 1 = 2884 NAS – 52 = 7735 RUT – 2 = 1629 10 Y = 3.23% OIL – .12 =74.22 GOLD – 15.20 = 1188.50   Earlier in the session, the Dow Industrial Average was down over 220 points. So, it was a decent recovery but a disappointing session nonetheless. The Nasdaq closed down for a third straight session. Among the biggest drags on both the Nasdaq and the S&P 500 were Microsoft Corp, down 1.1 percent, and Adobe Systems Inc, down 3.2 percent. By contrast, defensive sectors, including utilities, consumer staples, and real estate, led the S&P’s major sectors in percentage gains. The bond market was closed for Columbus Day.   Google will shut down the consumer version of its social network Google+ after announcing data from up to 500,000 users may have been exposed to external developers by a bug that was present