Your Weekly Market Blip 10/27/17

Your Weekly Market Blip 10/27/17

The markets closed the trading week out with a bang. The NASDAQ vaulted higher thanks to stellar earnings from Amazon, Google and Microsoft. The Dow closed up 33 points to 23,434 on heavy trade. For the week the Dow was up about 0.4%. The NASDAQ was up 2.2% just on Friday.

Big tech reported big earnings today and ……wow…..they were good. All three stocks took off like SpaceX rockets. Jeff Bezos went to bed last night just another common bum and today he wakes up to the title of the world’s richest man. All three firms posted numbers well ahead of expectations which stunned gurus and sent buyers into a frenzy. It will be interesting to see what happens this coming Wednesday when big daddy Apple reports its Q3 results.

Things in Europe are getting interesting. Catalonia declared its independence from Spain which is now holding emergency meetings about putting the kibosh on the separatist movement. The euro has responded to this historic risk event by falling in value against the dollar, yen and Swiss Franc. Spain must move to take control over the region but will this spark a civil clash?

The Boy Scout troop had our fall court of honor last night and it was a crazy. We had over 50 scouts in attendance along with happy parents and grandparents packing the hall in standing room only fashion. There were 26 rank advancements, awards for honor troop at summer camp, shooting awards, hiking awards, swimming awards and over 200 merit badges handed out from all our summer activities. It was a potluck affair and after the adults had eaten the lunkheads vacuumed up all remaining food like a herd of hopped up ant eaters. With all the disruptive political and world news events we face each day this court of honor was refreshing in that it had such a wonderful atmosphere of joyous youthful energy.