How to make it, spend it, and invest it

1 May 2017

See What Sticks

Post by MoneyRadio Staff

…..Nasdaq record. EPS v GDP. Sell in May, maybe. Spending package means government will stay open. Winter storm hits short wheat traders hard. ISM mgf slips. Construction spending dips. Personal income down, debt up. Financial Review by Sinclair Noe for 05-01-2017 DOW – 27 = 20,913 SPX + 4 = 2388 NAS + 44 = 6091 RUT + 6 = 1407 10 Y + .04 = 2.32% OIL – .56 = 48.77 GOLD – 11.60 = 1257.10   Once again, the Nasdaq hit a record high close. And the VIX, the volatility index dipped down under 10. Nothing to worry about here. Meanwhile, investors braced for another heavy week of quarterly corporate results in an earnings season that has exceeded expectations. Overall, profits at S&P 500 companies are estimated to have risen between 12 percent and 13.6 percent in the first quarter, the most since 2011. First quarter GDP came in at 0.7 percent. The difference between earnings per share growth and gross domestic product expansion in the first quarter is the widest since the third quarter of 2011. S&P 500 companies that generate more than half their revenue overseas are posting quarterly earnings growth of 19.9 percent on average, double that of companies that conduct most of their business domestically. About 46 percent of S&P 500 sales overall come from foreign markets. Other factors helping earnings and overseas economic growth are softness in the U.S. dollar and stabilizing oil prices. The greenback has traded mostly lower this year after …

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