Rover's Weekly Market Brief — 6/9/2017

June 9, 2017 |

Indices

DJIA: 21,272.00 (+0.31%)

NASDAQ: 6,207.92 (-1.55%)

S&P 500: 2,431.77 (-0.30%)

Commodities

Gold: 1,269.00 (-0.87%)

Copper: 264.55 (+2.76%)

Crude Oil: 45.85 (-3.80%)

Economy

Productivity estimates for nonfarm business labor were revised upwards for Q1 from a -1.6% decline to a flat 0.0%. The revision was based on an upward revision of productivity from +1.0% to +1.7%, which had the resulting effect of lowering unit labor costs from +3.0% to +2.2%.. The downward revision in labor costs also pushed real hourly compensation down from -0.8% to -0.9%, bringing Y/Y compensation down to -0.3%.

March’s new factory orders were revised from +0.2% to +1.0%, but orders for April fell to -0.2% in the first decline after 4 months of gains. A -0.8% decline in new durable goods orders led the drop after a +2.4% March increase, with drops in nondefense aircraft (-9.1%), mining/oilfield/gas machinery (-8.3%), and electrical equipment/appliances/components (-2.0%). Orders increased for motor vehicles (+0.6%), computers (+1.6%), and non-durable goods (+0.4%), such as energy and food.

In the first increase in 9 weeks, the EIA reported that domestic crude oil supplies unexpectedly rose by +3.3 million barrels for the week ending June 2nd. Crude oil imports were up +356,000 barrels/day from the previous week, raising imports by +8.8% compared to the same four-week period last year. Motor gasoline product supplied was down -0.7% and prices increased by $0.033 compared to the same period in 2016.

Upcoming Economic Reports:

Wednesday June 14 – Retail Sales

Wednesday June 14 – FOMC Meeting Announcement

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Brenntag
(BNTGY)
BMW
(BAMXF)
CSW Industrials
(CSWI)
Kroger
(KR)
Sky Solar
Holdings
(SKYS)
Science
Applications Intl
(SAIC)
Motorcar Parts
of America
(MPAA)
Digital Turbine
(APPS)
Bob Evans
Farms
(BOBE)
Sunwin
Stevia Intl
(SUWN)




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