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3 May 2017

Broken PROMESA

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Post by MoneyRadio Staff

…..Fed holds steady. ADP counts 177k private jobs. ISM non-manufacturing index up. Puerto Rico announces biggest ever bankruptcy (sort of) in muni bond history. Health care hangs on a speck of dust. Home prices have not recovered. Facebook is everywhere, even where it shouldn’t be. Tesla – the great American car company. Twilio trips. Copper drops. Writers reach a deal. 4XETF because. Google Docs – don’t Financial Review by Sinclair Noe for 05-03-2017 DOW + 8 = 20,957 SPX – 3 = 2388 NAS – 22 = 6072 RUT – 8 = 1390 10 Y + .02 = 2.31% OIL – .22 = 47.60 GOLD – 19.20 = 1238.70 The Federal Reserve left interest rates unchanged as they wrapped up their two-day FOMC policy meeting. In a hawkish statement, the central bank also said consumer spending continued to be solid, business investment had firmed and inflation has been “running close” to the Fed’s target. “The committee views the slowing in growth during the first quarter as likely to be transitory,” the Fed said in a unanimous statement. That sounds like the Fed is sticking to its guns and plans on 2 more rate hikes this year. The Fed raised its benchmark rate by a quarter percentage point at its last meeting in March to a target range of 0.75 percent to 1 percent. The rate-setting committee is also gearing up to announce sometime this year when and how the Fed will begin shrinking its $4.5 trillion balance sheet. Wednesday’s statement …

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