Apple Bites

Resale home prices continue to rebound. New home sales up. Consumer confidence flat. Fed FOMC deliberates. Earnings galore but the big one is Apple, and it wasn’t as bad as it could have been. Fiat fudged sales numbers. VW has a plan. Amazon has drones in the UK. You could fly around the world without using a drop of oil.
Financial Review by Sinclair Noe for 07-26-2016
DOW – 19 = 18,473
SPX + 0.7 = 2169
NAS + 12 = 5110
10 Y - .01 = 1.56%
OIL - .49 = 42.64
GOLD + 4.40 = 1320.70

The S&P CoreLogic Case-Shiller 20-city composite saw a 0.9% gain in May to stretch the 12-month advance to 5.2%. Phoenix resale home prices were up 0.6% in May, and 5.4% over the past 12 months. Portland had the hottest housing market, New York the weakest. From the 2006 peak, the 20-city composite is down 8.8%; it’s up 40.4% from the trough in 2012.

The Commerce Department reports new home sales increased 3.5 percent to a seasonally adjusted annual rate of 592,000 units last month, the highest level sinc