Rover's Weekly Market Brief — 10/4/2019

Indices

DJIA: 26,573.70 (-0.92%)

NASDAQ: 7,982.00 (+0.53%)

S&P 500: 2,952.01 (-0.33%)

Commodities

Gold: 1,513.80 (+0.98%)

Copper: 255.35 (-1.69%)

Crude Oil: 52.45 (-6.19%)

Stock Rover is Named AAII’s Best of the Web 2019

Stock Rover was named as “Best of the Web” in the American Association of Individual Investors (AAII) Computerized Investing 2019 Best of the Web awards. Stock Rover was cited in two separate categories as Best of the Web; Stock Screening and Stock Research and Data. Stock Rover also received an honorable mention in the Portfolio Tracking and Optimization category.

New Video on Stock Ratings

Check out our new video on the Stock Rover’s Stock Ratings facility – a powerful capability that rates stocks across multiple dimensions such as growth, valuation, financial strength and momentum to help investors find and vet quality companies. The ratings are based on long term track record and expected future performance.

Economy

The Institute for Supply Management’s Manufacturing Report on Business was below 50% for the second consecutive month as it dropped -1.3% to 47.8%, reaching its lowest level since June 2009. Only the Supplier Deliveries index at 51.1% remained above 50%, indicating growth, with all other indices under 50%, indicating contraction. The lowest indices were New Export Orders (-2.3% to 41%), Backlog of Orders (-1.2% to 45.1%), and Employment (-1.1% to 46.3%). Indices for Prices (+3.7% to 49.7%), Imports (+2.1% to 48.1%), and New Orders (+0.1% to 47.3%) were all contracting, but at a slower pace than previously. Comments from respondents mentioned softening demand, a cautious business outlook, and the detrimental effects of tariffs and the on-going trade war.

The number of jobs created in August was revised upward from 130,000 to 168,000, and there were 136,000 jobs created in September, dropping the unemployment rate by -0.2% to 3.5%, the lowest rate since December 1969. However, average hourly earnings remained flat for the month, dropping the yearly gain in hourly earnings from 3.2% Y/Y in August to +2.9% in September. Jobs were created in health care (39,000), professional services (34,000), government (22,000), and transportation (16,000), but dropped for retail (-16,000) and manufacturing (-2,000). The number of workers holding multiple jobs held steady at 5.3% in September, up from 4.9% a year previously. The U-6 unemployment rate, which accounts for underemployed and discouraged workers dropped -0.3% to 6.9%, down from 7.5% a year previously.

Imports increased by $1.3 billion to $262.8 billion in August, outpacing a $0.5 billion increase in exports to $207.9 billion and widening the trade deficit by +1.6% to $54.9 billion. In goods exports, increases for fuel oil (+$0.8 billion), gold (+$0.4 billion) and soybeans (+$0.3 billion) were offset by a -$1.3 billion decrease in civilian aircraft. Goods imports were up for consumer goods (+$1.9 billion), and capital goods (+$1.9 billion), but this was offset by a -$1.5 billion drop in industrial supplies that was primarily due to a -$1.2 billion decline for crude oil and other petroleum products. The trade deficit with China narrowed by -$1.0 billion to $31.8 billion, with the year to date deficit at -$232 billion compared to -$261 billion for the year to date in August 2018.

Upcoming Economic Reports:

Tuesday October 8 – Producer Price Index – Final Demand (PPI-FD)

Thursday October 10 – Consumer Price Index

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Ecology and
Environment
(EEI)
Domino’s
Pizza
(DPZ)
Saratoga
Investment
(SAR)
Delta
Airlines
(DAL)
Citigroup
(C)
No Additional
Earnings Reports
Levi
Strauss
(LEVI)
Richardson
Electronics
(RELL)
VOXX
Inernational
(VOXX)
Fastenal
(FAST)



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