Six Straight

Financial Review

…Stocks higher again. North Korea releases prisoners; summit planned. Israel and Iran. CPI inches higher – inflation is mild except for stuff you actually need. Earnings looking good. Google infuses AI into old apps. Financial Review by Sinclair Noe for 05-10-2018 DOW + 196 = 24,739 SPX + 25 = 2723 NAS + 65 = 7404 RUT + 7 = 1603 10 Y – .03 = 2.97% OIL + .26 = 71.40 GOLD + 9.00 = 1322.20 The Dow Industrials posted their sixth straight gain, with the S&P and Nasdaq along for the ride with nearly a 1% gain. The tech sector led the advance, up 1.3%. Apple hit a new record high. The small-cap focused Russell 2000 has been outperforming the large cap S&P and the blue chip Dow; the Russell is within a hair’s breadth of setting its first record since Jan. 23, when it closed at 1,610. The Labor Department said before the open its consumer price index, or CPI, rose 0.2 percent in April. The lighter-than-forecast number eased inflation concerns; prices are increasing gradually. The consumer price index has risen 2.5% in the past 12 months — the highest rate in 14 months. A more closely followed measure that strips out food and energy, known as the core CPI, rose a smaller 0.1% last month. That was half as much as Wall Street expected. The yearly increase in the core rate was unchanged at 2.1%. The cost of groceries posted the biggest increase in more ...

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