Rover's Weekly Market Brief - 02/18/2022

February 18, 2022 Printer Friendly Printer Friendly

Indices

DJIA: 34,079.20 (-1.90%)

NASDAQ: 13,548.10 (-1.76%)

S&P 500: 4,348.87 (-1.58%)

Commodities

Gold: 1,898.50 (+3.06%)

Copper: 452.20 (+0.36)

Crude Oil: 90.73 (-2.93%)

New Screeners and Watchlists

We created new screeners and watchlists that we think will be of interest to the Stock Rover community. You can read about the new additions to the Stock Rover library in our latest blog post. Any of the screeners or watchlists can be imported into your Stock Rover account from the Stock Rover Investor’s Library.

Economy

The Bureau of Labor Statistics reported the producer price index rose 1% in January, this follows readings of +0.4% in December, and +0.9% in November. Annual wholesale inflation is reported at 9.7% (down slightly from the record 9.8% readings for both November and December). Prices for final demand services rose 0.7% in January, mirroring December’s reading. Three-quarters of the rise in January is attributable to a 0.9% increase in the index for final demand services less trade, transportation, and warehousing. A major factor in the January increase in the index for final demand services was healthcare which rose 1.6%. Prices for final demand goods rose 1.3% in January and follows a 0.1% drop in December. Some 40% of the increase in final demand goods is attributable to a 0.8% rise in the index for final demand goods less foods and energy, and follows readings of +0.9% in November and +0.6% in December. Over the past 12 months, this index is up 8.4%. Core wholesale inflation, which removes the more volatile food, energy and trade services components, was up +0.9% for the month and ticked up to 6.9% for the year.

The Commerce Department reported advanced U.S. retail and food services sales increased 3.8% to $649.8B in January, following a downwardly revised -2.5% in December. Retail sales are running 13.0% higher than a year ago. Total sales for November 2021 through January 2022 were up 16.1% year over year. Sales at nonstore retailers climbed 14.5% while department stores rose 9.2%, and furniture and home furnishings saw a 7.2% increase. Gains were also reported by auto dealerships (+5.7%), building materials and supply (+4.1%), general merchandise (+3.6%), and electronics and appliances (+1.9%). Sporting goods stores saw a decrease (-3.0%), in addition food services and drinking places saw a modest decline of (-0.9%). Core retail sales, a measurement that excludes spending on autos, gasoline, building materials, and food services, was up 4.8% and follows a revised (-4.0%) drop in December.

The U.S. Census Bureau reported new residential building permits were up 0.7% in January to a seasonally adjusted 1.899M. New residential building permits are running 0.8% above the January 2021 level. Single-family permits were up 6.8% from an upwardly revised December figure of 1.128M, multifamily permits dropped 8.8% to 629K. Building permits increased in both the West (+13.9%) and South (+11.4%), while the Northeast (-48.3%) and Midwest (-0.7%), both saw decreases.  Single-family housing completions came in at 927K, 7.3%, below December’s reading. Multifamily construction was unchanged at 309K. Housing starts posted a seasonally adjusted annual rate of 1.638M, a 4.1% decrease from December’s revised 1.708M, and up 0.8% over January 2021. Single-family housing starts came in at a rate of 1.116M, down 5.6% from December’s 1.182M. Multifamily housing starts came in at a rate of 510K, down 2.1% from December’s 521K.

Upcoming Economic Reports:

Thursday February 24 – GDP (QoQ) (Q4)

Friday February 25 – Core Durable Goods Orders (MoM) (January)

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Williams
Companies
(WMB)
Agilent
Technologies
(A)
Booking
Holdings
(BKNG)
Intuit
(INTU)
Berkshire
Hathaway
(BRK.B)
Sun
Communities
(SUI)
Public
Storage
(PSA)
Overstock.com
(OSTK)
Moderna
(MRNA)
Anheuser-Busch
InBev
(BUD)



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