Rover's Weekly Market Brief - 06/18/2021

Indices

DJIA: 33,291.00 (-3.45%)

NASDAQ: 14,030.00 (-0.28%)

S&P 500: 4,166.00 (-1.92%)

Commodities

Gold: 1,770.40 (-5.81%)

Copper: 414.35 (-8.68%)

Crude Oil: 71.33 (+0.59%)

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Economy

The US Census Bureau reported retail sales fell 1.3% in May to $620.2 billion, ex-autos, gasoline, building materials, and food services retail sales dropped 0.7%.  May 2021 figures are 28.1% higher than May 2020. For the period March to May 2021 U.S. retail and food services sales were up 36.2% over the same period in 2020. April 2021’s MoM retails sales were revised up from 0.0% to 0.9%. In addition, the April retail sales ex-autos figure was revised up from -0.8% to 0.0%. Retail trade sales were reported down 1.7% from April 2021, but are up 24.4% compared with April 2020.  Clothing and clothing accessories stores sales were up 200.3% and food services and drinking places were up 70.6% versus May 2020.

The U.S. Bureau of Labor Statistics reported the US producer price index up +0.8% in May, after increasing 0.6% in April. The U.S. PPI is up 6.6% for the 12 months ending in May, the fastest rate since November 2010 and follows a brisk 6.2% increase in April. The Core PPI, which excludes the more volatile food and energy prices, was up +0.7% month-over-month and +4.8% for the 12-month period ending in May. Nearly 60% of the increase in the index for final demand is attributed to a 1.5% rise in final demand goods pricing, after rising 0.6% in April. Prices for final demand foods were up 2.6% and for final demand energy 2.2%. The final demand services index reported up +0.6% in May, the fifth consecutive increase. Over 40% of the increase in the index for final demand services is attributable to margins for automobile retailing, which increased 27.3%.

The U.S. Census Bureau reported new residential building permits were down 3.0% in May to a seasonally adjusted 1.681M, still some 34.9% above the May 2020 rate of 1.246M. Single-family permits were down 1.6% over a revised April figure of 1.148M. Privately-owned housing starts were up 3.6% to 1.572M, 50.3% above the May 2020 rate of 1.046M. Single-family housing starts were also up, coming in at 1.098M, 4.2% above April’s revised 1.054M. Privately-owned housing completions reported at 1.368M, down 4.1% from April, and up 16.1% over May 2020. All regions saw new residential building permits drop. The Northeast led the way at a seasonally adjusted -7.1% over April, followed by the West -3.1%, the Midwest -2.6%, and the South -2.3%.

Upcoming Economic Reports:

Tuesday June 22 – Existing Home Sales (May)

Thursday June 24 – GDP (QoQ) (Q1)

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
JSR
(JSCPF)
Affirmed
(AFMD)
H.B. Fuller
(FUL)
FedEx
(FDX)
Carmax
(KMX)
Hertz Global
Holdings
(HTZGQ)
Cognyte
Software
(CGNT)
Winnebago
Industries
(WGO)
Progress
Software
(PRGS)
Paychex
(PAYX)

 




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