Rover's Weekly Market Brief - 8/14/2020

Indices

DJIA: 27,931.00 (+1.81%)

NASDAQ: 11,019.00 (+0.07%)

S&P 500: 3,372.85 (+0.64%)

Commodities

Gold: 1,952.20 (-3.26%)

Copper: 285.75 (+2.33%)

Crude Oil: 42.16 (+2.28%)

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We have created a new video that provides a tour of our Research Reports product. Research Reports does a deep dive on over 7,000 North America stocks and produces an 8 page printable report in PDF format. This video shows you how to access Research Reports and outlines the extensive information Research Reports provide to help you properly vet investment decisions. You can watch the 7½ minute video here.

Economy

Job openings increased to 5.9 million (+518,000) on the last business day of June, and hires slowed to 6.7 million (-503,000). For accommodation/food service workers, job openings increased by +198,000, and hiring increased +78,000, but separations were up, reducing the number of jobs by -175,000. Job openings decreased by -26,000 for state/local government workers, with -59,000 education jobs lost, but hiring for non-education state/local workers was up +30,000. In construction, job openings were down -70,000, and hiring slowed by -181,000. Over the previous 12 months there were a total 70.2 million hires and 79.1 million separations, yielding a net loss of -8.9 million jobs.

Producer prices were up +0.6% in July after a -0.2% decrease in June and a +0.4% increase in May, but overall yearly producer inflation was down -0.4%. Wholesale service prices were up +0.5%, largely due to a +7.8% increase in portfolio management prices. Wholesale goods prices rose +0.8% for the third consecutive monthly increase, with July’s increase due primarily to a +10.1% increase in gas prices. Excluding the more volatile food, energy and trade services components, core producer prices were up +0.3% for the month, matching June’s increase, and were up +0.1% for the year, for the first positive yearly reading since March.

Retail sales were up +1.2% to $536.0 billion in July, slowing from June’s upwardly revised +8.4% monthly growth. On a yearly basis, sales were up +2.7% compared to July 2019, but year to date sales compared to the same period in 2019 were down significantly for clothing (-36.5%), restaurants (-21.4%), electronics stores (-18.6%), gasoline stations (-16.8%), and furniture stores (-13.5%). Year to date sales were up for nonstore (e.g. online) retailers (+19.8%), food stores (+12.8%), and building supply stores (+11.3%). Year to date sales were up +2.3% for general merchandise stores, but the department store sector was down -18.5%.

Upcoming Economic Reports:

Tuesday August 18 – Housing Starts

Friday August 21 – Existing Home Sales

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Kadmon
Holdings
(KDMN)
Walmart
(WMT)
NVIDIA
(NVDA)
Estee
Lauder Cos
(EL)
Deere
(DE)
America’s
Car-Mart
(CRMT)
Home
Depot
(HD)
Lowe’s
Companies
(LOW)
Ross
Stores
(ROST)
Foot
Locker
(FL)



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