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8 May 2017

Time Waits for No One

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Post by MoneyRadio Staff

…..French election goes as predicted. Markets snooze. Global banks Brexit London. Phoenix housing market tight inventory. Housing ATM again. Straight Path to $3.1 billion. Coaching Kate Spade. Tyson overcooked. Sinclair buys Trib. Amazon’s Alexa rules. Ackman pimps HHC at Sohn. The Warren and Charlie Show. Do not live in Kentucky. Financial Review by Sinclair Noe for 05-08-2017 DOW + 5 = 21,012 SPX + 0.09 = 2399 (record) NAS + 1 = 6102 (record) RUT – 5 = 1391 10 Y + .02 = 2.38% OIL + .28 = 46.50 GOLD – 1.90 = 1227.00   Emmanuel Macron defeated Marine Le Pen in France’s presidential election. The euro fell from six-month highs against the dollar in what looks like a “sell the news” reaction.  The dollar rose with Treasury yields on confirmation of Macron’s widely expected victory. The CBOE Volatility Index dropped to 9.77, marking its lowest close since 1993. The S&P 500 and the Nasdaq Composite traded at new intraday record highs. Macron won by a margin of 66 percent to 34 percent. The rise of  Le Pen’s National Front and France’s persistent economic and industrial problems made this  campaign a referendum on Europe and globalization. Macron repeated that the big divide was between those who see an open economy as an opportunity and those who, like Le Pen, seem to fear the challenges it offers. Macron’s decisive triumph over the anti-euro Marine Le Pen will likely strengthen the EU and deal a blow to the populist wave that has roiled …

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