Rover's Weekly Market Brief — 3/3/2017

March 3, 2017 |

Indices

DJIA: 21,004.80 (+0.88%)

NASDAQ: 5,870.75 (+0.44%)

S&P 500: 2,383.03 (+0.66%)

Commodities

Gold: 1,234.30 (-1.91%)

Copper: 270.55 (+0.95%)

Crude Oil: 53.16 (-1.54%)

Economy

A 6% increase in new transportation equipment orders, primarily for aircraft, drove a 1.8% increase in new durable goods orders for January. New orders for core capital goods, which exclude aircraft and defense orders, showed an unexpected 0.4% decrease after 3 months of increases, and a Y/Y gain of 0.5%. Overall shipments of existing orders were down slightly by 0.1%, but core capital goods shipments fell more steeply at 0.6%.

January’s trade deficit increased 7.6% to $69.2 billion, while December’s deficit was revised downwards to $64.4 billion. Imports rose 2.3% M/M and 8.9% Y/Y, with significant increases in consumer goods and automobile imports. Exports fell by 0.3% M/M, but rose 8.3% Y/Y, with exports of consumer goods falling by 4.6%.

The Bureau of Economic Analysis’ second estimate of GDP revised personal consumption expenditures (PCE) in Q4 upwards by 0.5% to 3.0%, with healthcare spending and vehicle purchases as the largest components. The PCE increase was balanced by downward revisions for business investment (from 3.1% to 1.9%) and warehouse inventories (from $48.7 billion to $46.2 billion), and an increase in the trade deficit. Overall, the advanced estimate’s values of 1.9% growth for Q4 and 1.6% growth for 2016 remained unchanged.

Upcoming Economic Reports:

Tuesday March 7  — International Trade

Friday March 10 — Employment Situation

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
CITIC (CTPCY) Publix Super Markets (PUSH) Adidas (ADDYY) Ulta Beauty (ULTA) Vail Resorts (MTN)
Enstar Group (ESGR) Momo (MOMO) Adecco Group (AHEXY) International Game Tech (IGT) Kirkland’s (KIRK)




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