Saturday, October 21, 2017

FRIDAY 10/20/17; NIKK (Japan) Prints Record 21-Year High Up 14 Consecutive Days; BHGE; CLF; GE; STI; KSU; SLB; Existing Home Sales; Bitcoin Above 6,000; SPX, INDU, COMPQ and NYA Print All-Time Record Highs; Fed Chair Yellen Speaks

Asia and Aussie markets begin trading higher encouraged by the US Senate passing the budget plan. The House says it will approve the budget. The agreement paves the way for the tax cut package going forward. S&P futures are up +5 boosted by the news.





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Yellen did not comment on her future at the Fed. Jerome Powell is believed to be the favorite pick of President Trump for the next Federal Reserve chairman when Yellen’s term expires on 2/3/18. Trump promised to announce his decision for the next Fed chairman within 13 days (by 11/3/17). 

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