US Equity and Economic Week in Review: This Week's Rally Wasn't As Strong As You Think

            Two hurricanes hit two of the largest US states over the last 5-6 weeks.  This had a strong impact on two of this week’s releases (retail sales, initial unemployment claims, and industrial production).  It will undoubtedly lower 3Q GDP.  By how much is, of course, anybody’s guess.  But Federal Reserve Banks are already lowering their respective “nowcasts:: The Atlanta Fed’s GDP Nowcast is 2.2% while on Friday, the NY Fed sharply lowered its 3Q projection to 1.3%.  Despite the situational weakness in two coincident indicators, the markets hit all-time high this