Rover's Weekly Market Brief —11/2/2018

Printer Friendly Printer Friendly November 2, 2018

Indices

DJIA: 25,270.80 (+2.36%)

NASDAQ: 7,357.00 (+2.65%)

S&P 500: 2,723.00 (+2.42%)

Commodities

Gold: 1,234.80 (-0.08%)

Copper: 272.15 (-0.71%)

Crude Oil: 62.82 (-7.06%)

Stock Rover V7.2 Released

Stock Rover is pleased to announce the general release of V7.2. Users who log into Stock Rover will receive the new release automatically. There are three parts to the new release: new metrics, new chartable indicators and metrics that now have histories. To learn more about the new release click here.

Stock Ratings

For Premium Plus users we have created a new Stock Rover Ratings view that shows the proprietary Stock Rover ratings of stocks in the Table. Stock Rover ratings rates stocks against their peers in growth, valuation, efficiency, dividends, and momentum. You can add this view to your table via the Library Import option.

Economy

Personal income gains in August were revised upward to +0.4%, but fell back to a +0.2% increase in September, and inflation and tax adjusted real disposable personal income slowed to a +0.1% monthly gain from +0.2% in August. The personal savings rate continued to slow from a nearly three year high of 7.4% in February to 6.2% with the difference in savings contributing to monthly increases in spending for services (+0.2%) and nondurable goods (+0.1%), but not helping prevent a drop in spending for durable goods (-0.4%). On a yearly basis and adjusted for inflation and taxes, personal income was up +2.9%, and consumer spending increased +3.0%, with increases in spending for durable goods (+6.4%), nondurable goods (+3.3%), and services (+2.4%). Consumer prices increased +2.7% Y/Y for services and +1.4% Y/Y for nondurable goods, but dropped -1.6% Y/Y for durable goods, with yearly core inflation remaining steady at +2.0%.

The unemployment rate remained at 3.7% in October with an increase in the labor force participation rate of +0.2% to 62.9% increasing the number of workers available for the 250,000 new jobs created during the month. Average hourly earnings increased +0.2% to $27.30/hour, and the average number of hours worked ticked up +0.1 hours to 34.5 hours/week. Jobs were created in health care (+36,000), manufacturing (+32,000), and business services (+35,000). While there were +42,000 leisure and hospitality jobs created in October, it is likely that Hurricane Florence lowered the number jobs created in this industry in September, and the two month average of +21,000 jobs is close to the average monthly gain over the previous 12 months. The more comprehensive U-6 unemployment rate, which includes discouraged and underemployed workers, dropped -0.1% to 7.4%, its lowest rate since April 2001.

A +1.5% ($3.8 billion) increase in imports in September more than offset the effects of a +1.3% ($3.1 billion) gain in exports, widening the trade deficit by +1.3% ($0.7 billion) to $54.0 billion. Food exports dropped -$958 million, led by a -$744 million drop in soybeans, but increases of +$1.06 billion for petroleum products and +1.01 billion for nonmonetary gold pushed industrial supply exports up +$2.77 billion, and a +$1.18 billion in civilian aircraft exports helped push capital goods exports up +$1.08 billion. Imports increases were distributed across capital goods and consumer goods categories, with drops in automotive, industrial supply and food imports. Per country, the largest trade deficit was with China (+$3 billion to $47.7 billion), followed by the European Union (+$14.2 billion), and Mexico (+$7.6 billion), and the largest surpluses were with South and Central America (+$3.2 billion), Hong Kong (+$2.4 billion), and Brazil (+$0.6 billion).

Upcoming Economic Reports:

Thursday November 8 – FOMC Meeting Announcement

Friday November 9 – Producer Price Index – Final Demand (PPI-FD)

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Booking
Holdings
(BKNG)
Eli Lilly
(LLY)
Twenty-First
Century Fox
(FOXA)
Walt
Disney
(DIS)
Starwood
Property Trust
(STWD)
Marriott
International
(MAR)
CVS
Health
(CVS)
Qualcomm
(QCOM)
Astra
Zeneca
(AZN)
athenahealth
(ATHN)




Leave a Reply

Your email address will not be published. Required fields are marked *

We value your privacy and will not display or share your email address

This site uses Akismet to reduce spam. Learn how your comment data is processed.