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28 Apr 2017

Make Way for May

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Post by MoneyRadio Staff

…..Markets higher for the week and month. Alphabet, Amazon, and Microsoft massive movers. GDP slogs thru 1Q, up 0.7%. Consumers confident. Wages inch higher but inflation lurks. US government open for another week. Brazil general strike. Euro-youth sick of status quo. IPOs diverge. Anthem-Cigna deal is dead. Chevron, Exxon, GM earnings beat. Financial Review by Sinclair Noe for 04-28-2017 DOW – 40 = 20,940 SPX – 4 = 2384 NAS – 1 = 6047 RUT – 16 = 1400 10 Y – .02 = 2.28% OIL + .21 = 49.18 GOLD + 4.20 = 1268.70 Looking back on the week, we had a couple of strong moves Monday and Tuesday, following the French election over the weekend – the rally was based on an absence of bad news. After that, markets looked for good news and floundered. The tax reform plan failed to impress. We had some good earnings reports, which helped to lift a few stocks – notably a few of the big tech stocks, and that helped the Nasdaq Composite climb above 6,000 to new record highs. For the week, the Dow rose 1.9 percent, the S&P gained 1.5 percent and the Nasdaq rose 2.3 percent. During April, the Dow gained 1.3 percent, the S&P rose 0.9 percent and the Nasdaq jumped 2.3 percent.   Yesterday, Alphabet, Amazon, and Microsoft reported earnings. Alphabet and Amazon crushed it. Microsoft was a slight disappointment. From the close of the market on Thursday to session highs on Friday, all three stocks …

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