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Week of October 14th – 18th

  1. The Dow fell 46.39 points, or 0.2%, to 26,770.20 this past week, while the S&P 500 index rose 0.5%, to 2986.20, and the Nasdaq Composite advanced 0.4%, to 8089.54.
  2. The federal-funds futures market is putting an 89.3% probability of the Federal Open Market Committee voting for a one-quarter percentage-point reduction in its key policy interest rate on Oct. 30
  3. The banks shined during the week, showing a very strong consumer and no signs of a coming US Recession.
  4. Bad: JNJ on more problems also BA and IBM with lousy sales.
  5. Netflix did not disappoint but there are too many pessimists out there
  6. The Euro broke resistance. The USD has been very strong this year. A weaker USD could help the markets.
  7. Brexit or not the GBP broke the 200 ma. We will see more this week.
  8. Retail Sales disappointed. Expected 0.3% it came at -0.3% but they revised August from 0.3% to 0.6%. 
  9. Argentina: Inflation was on course ad the government wanted and promised. The Paso/Peso debacle destroyed the plan. We are a week away from the elections. Fasten your seat belts.
  10. China GDP came at 6.0%. We do not know what to make about it. 
  11. Reports coming this week: 
    1. Tuesday, MCD, Texas Inst, UPS
    2. Wednesday:Boeing , Caterpillar, eBay , Eli Lilly , Ford, Microsoft  , PayPal Holdings  Tesla.
    3. Thursday: 3M,, American Airlines Group, Intel , Twitter , and Visa