Rover's Weekly Market Brief — 10/21/2016

October 21, 2016 |

Indices

DJIA: 18,145.70 (+0.04%)

NASDAQ: 5,257.40 (+0.83%)

S&P 500: 2,141.16 (+0.38%)

Commodities

Gold: 1,267.60 (+0.96%)

Copper: 209.05 (-0.95%)

Crude Oil: 50.88 (+1.05%)

Economy

The consumer price index rose an expected 0.3% in September, bringing the Y/Y rate up to 1.5%, the highest since October 2014. Energy prices jumped 2.9% M/M and food prices were flat. Excluding energy and food, the price increase drops to just 0.1%, which drops the core CPI Y/Y rate by one-tenth to 2.2%.

The housing starts report provided a mixed picture. Overall, housing starts took at 9.0% dive in September, but that was almost entirely due to a 38% drop in the volatile multi-family segment. At the same time, single-family starts surged 8.1%. Permits for both segments were up 6.3%, with single-family permits rising 0.4% for the month and multi-family permits up 17.0%.

The Philadelphia Fed Business Outlook Survey, which tracks Philadelphia area manufacturing and serves as an index of manufacturing sector trends, showed solid gains, with orders and shipments up 9.7% for the month, on top of two months of gains. Monthly growth in new orders was 16.3%, the strongest since November 2014, and shipments, at 15.3% growth, had the second strongest month in that same period. The report had some weak spots, such as continuing contraction in the workweek.

Upcoming Economic Reports:

Wed October 26 — New Home Sales

Fri October 28 — GDP

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Visa (V) Apple (AAPL) Coca Cola (KO) Alphabet (GOOGL) Exxon Mobil (XOM)
VF (VFC) Alibaba (BABA) Comcast (CMCSA) Amazon (AMZN) InBev (BUD)




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