Financial Review

….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