Rover's Weekly Market Brief - 11/06/2020

Printer Friendly Printer Friendly November 6, 2020

Indices

DJIA: 28,323.40 (+6.87%)

NASDAQ: 11,895.00 (+9.01%)

S&P 500: 3,509.44 (+7.32%)

Commodities

Gold: 1,952.50 (+3.86%)

Copper: 315.50 (+3.53%)

Crude Oil: 37.45 (+4.64%)

New Investment Research Now Available in Stock Rover

We have enhanced Stock Rover to include Analyst Research reports from Left Brain Investment Research, an investment research firm that is both a Stock Rover partner and a Stock Rover user. The Left Brain analysts user Stock Rover as an integral part of their research process.

Left Brain does deep research on select stocks that they find promising from an investment point of view. Left Brain are long term investors with a focus on growth. Their research is now available to all Stock Rover users. For example, their most recent research report, published on October 27th is on NVIDIA.

To access the research from Stock Rover, you can select Markets from our grey selector panel on the left and then click on Analyst Research in the blue header bar. You can also get the Left Brain research by selecting Ideas from the grey selector panel.

Economy

The Commerce Department announced that September’s new orders for manufactured goods rose 1.1% to $475 billion after rising 0.6% in August. Demand for transportation equipment led the way, while orders for machinery, furniture and electrical equipment fell.  Unfilled orders at factories fell 0.2%, factory inventories were unchanged for the second consecutive month, while shipments of manufactured goods rose 0.3%. Orders for non-defense capital goods, excluding aircraft, which are considered a measure of companies’ spending plans on equipment, rose 1.0%. Basic capital goods shipments, which are used to calculate business capital expenditure in the GDP report, increased 0.5%. In assessing the overall recovery post lockdown, the total orders were still 4.3% lower than in February.

The U.S. Census Bureau reported that the U.S. trade deficit narrowed in September after hitting a 14-year high in August. The gap narrowed to $63.9 billion in September, down 4.7% from a deficit of $67 billion in August. Exports in September rose 2.6% to $176.4 billion, led by the food and beverage category, where shipments of $12.9 billion were the highest since July 2012. Soybean shipments to China accounted for a large part of the increase.  Imports rose 0.5% to $ 240.2 billion.

The Labor Department reported nonfarm productivity increased 4.9% in the third quarter, following an even larger increase of 10.6% in the second quarter. Labor costs fell 8.9% after increasing 8.5% in the second quarter. Production increased by 43.5% in the third quarter compared to a contraction of 36.8% in the second quarter, while hours worked increased by 36.8% compared to a contraction of 42.9% in the previous quarter. The figures show companies are employing fewer people to do more work.

Upcoming Economic Reports:

Tuesday November 10 – Job Openings

Friday November 13 – Producer Price Index

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
McDonalds
(MCD)
Rocket
Companies
(RKT)
Air Products
& Chemicals
(APD)
Walt
Disney
(DIS)
Honda
Motor Co
(HMC)
Ring
Central
(RNG)
Datadog
(DDG)
Manulife
Financial
(MFC)
Cisco
Systems
(CSCO)
DraftKings
(DKNG)

 




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