Financial Review

…Nasdaq up for 8. Wholesale prices flatline. Why worry about overshooting inflation targets. Money velocity at near record lows. Fed mops up surplus cash. Markets don’t reinvest for future growth. Financial Review by Sinclair Noe for 08-09-2018 DOW – 74 = 25,509 SPX – 4 =2853 NAS + 3 = 7891 RUT + 4 = 1690 10 Y – .04 = 2.93% OIL – 0.23 – 66.71 GOLD – 1.40 = 1213.10   The Nasdaq Composite posted a gain for the eighth consecutive session, logging its best winning streak since October. The Dow and the S&P slipped. The S&P 500 is near record levels but can’t seem to muster steam for a breakout move. Earnings and data look good but earnings season is winding down and it will be tough to top the second quarter results. Global economies probably can’t provide a synchronized lift. Trade wars could blow up fast. But for now, the markets are on cruise control. The VIX, or volatility index is just slightly above 11, which is another way of saying we are in the Dog Days of summer, and most traders are on vacation.   Bloom