Rover's Weekly Market Brief - 06/21/2024

Weekly Indices

DJIA: 39,150.33 (+1.45%)

NASDAQ: 17,689.36 (+0.00%)

S&P 500: 5,464.62 (+0.61%)


Gold: 2,335.20 (-0.57%)

Copper: 443.00 (-1.44%)

Crude Oil: 80.60 (+2.62%)

New Charting Video

We have created a brand new video that gives a comprehensive tour of Stock Rover’s Charting Facility. After watching it, you will be able to comfortably use all of Stock Rover’s powerful charting capabilities to help you visualize key trends in pricing, fundamental, and technical data. You can watch the video here.


The Commerce Department reported advance U.S. retail and food services sales edged up (+0.1%) to $703.1 billion in May, this follows a revised drop of (-0.2%) instead of a flat reading for April. Retail sales were up (+2.3%) year over year. Total sales for March 2024 through May 2024 were up (+2.9%) year over year. Retail sales are mostly goods and are not adjusted for inflation. Excluding sales at auto dealerships and gas stations, sales were up (+0.1%). Gasoline sales dropped (-2.2%), while internet retail (+0.8%) saw an increase. Restaurants, the only services category decreased (-0.4%). Core retail sales, a measurement that excludes spending on autos, gasoline, building materials, and food services rose (+0.4%) in May and follows a downwardly revised (-0.5%) reading the previous month.

The Labor Department reported initial jobless claims decreased 5,000 to 238,000 for the week ending June 15th. The four-week moving average was 232,750, an increase of 5,500 from the previous week’s upwardly revised average. Of the 53 states and U.S. territories that report jobless claims, 38 reported declines and 15 reported increases. For the week ending June 8th, the insured unemployment rate was unchanged at 1.2%. The total number of unemployment claims reported in at 1.828M up 15,000 from the previous week. For the week ending June 1st, 1.731M people were receiving jobless benefits through state or federal programs, an increase of 37,292 from the previous week. There were some 1.674M weekly claims filed for the comparable week in 2023.

The National Association of Realtors reported that sales of existing homes decreased (-0.7%) in May to a seasonally-adjusted annual rate of 4.11M, and down (-2.8%) as compared to May 2023. Regionally, sales declined (-1.6%) in the South while the Northeast, Midwest, and West reported unchanged. Sales of single-family homes declined (-0.8%) to a 3.71M annual rate (-2.1% Y/Y) and existing condo sales were unchanged at a 400K annual rate (-9.1% Y/Y). Total housing inventory reported up (+6.7%) to 1.28M (+18.5% Y/Y). Properties typically remained on the market for 24 days, down from 26 days in April. Unsold inventory climbed (+6.7%) to a 3.7 month run rate, up from 3.5 months in April. The median existing-home price for all housing was a record high $419,300 (+5.8% Y/Y). All four U.S. regions registered price gains. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.87% as of June 20, down from 6.95% a week earlier, but up from 6.67% a year ago.

Upcoming Economic Reports:

Wednesday June 26 – New Home Sales (MoM) (May)

Thursday June 27 – Durable Goods Orders (MoM) (May)

Earnings Calendar:


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Shad Kearns says:

Elevate Your Investment Strategy with Our Comprehensive Custom Metric “The Shadlee”

Navigating the stock market efficiently requires precise tools that can swiftly evaluate a stock’s financial health and value. That’s why we’ve developed a dynamic custom metric in StockRover, designed to give investors like you a multifaceted view of a stock’s potential. Here’s a breakdown of our innovative metric, which quantitatively assesses various fundamental indicators to score stocks:

Debt to Assets: We start by examining the debt-to-assets ratio. If a stock has a ratio below 0.50, it scores a point, signaling lower leverage and a healthier financial posture.

Price to Earnings (P/E): This metric is crucial for spotting undervalued stocks. A P/E ratio under 14 earns a stock another point, suggesting it might be priced below its earnings growth potential.

Price to Sales (P/S): With a threshold set at 5, stocks scoring under this ratio gain a point, indicating reasonable valuation against sales figures.

Shiller PE (CAPE): A Shiller PE below 16 points towards potential undervaluation against the average of cyclically adjusted earnings over the past decade, granting another point.

Price/Cash Flow (PCF): A PCF ratio below 10 is ideal. It scores a point for indicating that the stock is generating adequate cash relative to its market price.

Quick Ratio: This liquidity measure adds a point for stocks with a quick ratio above 1.5, reflecting strong short-term financial resilience.

Price to Graham Number: A refined indicator of intrinsic value, if a stock’s price is below its Graham Number, it scores 0.09 points. This subtle scoring highlights stocks potentially undervalued per Benjamin Graham’s conservative valuation criteria.

Our custom metric totals up the points from these conditions, offering a comprehensive score that helps determine a stock’s attractiveness. This systematic approach aids investors in quickly sifting through financial noise to pinpoint stocks that align with stringent criteria of financial soundness and value.

Whether you’re a seasoned investor or just starting out, integrating this custom metric into your StockRover dashboard will empower your investment decisions, enabling you to uncover hidden gems in the market. Leverage this tool to enhance your portfolio by focusing on stocks that meet high standards across multiple financial metrics.

Ken Leoni says:

Hello Shad,

An excellent example of using an equation to create your own rating.

We’ve shown your equation below:

The Shadlee Evaluate stocks efficiently with our simplified scoring system in StockRover: Best Score=6.09 Worst Score=0

(case when “Debt / Assets [Now] ” < 0.50 then 1 else 0 end) +
(case when “Price / Earnings [Now] ” < 14 then 1 else 0 end) +
(case when “Price / Sales [Now] ” < 5 then 1 else 0 end) +
(case when “Shiller PE [Now] ” < 16 then 1 else 0 end) +
(case when “Price / Cash Flow [Now] ” < 10 then 1 else 0 end) +
(case when “Quick Ratio [Now] ” > 1.5 then 1 else 0 end) +

(case when “Price to Graham Number [Now] ” < 1.00 then 0.09 else 0 end)

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