Rover's Weekly Market Brief — 11/15/2019

Printer Friendly Printer Friendly November 15, 2019

Indices

DJIA: 28,005.00 (+1.17%)

NASDAQ: 8,541.00 (+0.78%)

S&P 500: 3,120.00 (+0.87%)

Commodities

Gold: 1,467.30 (+0.30%)

Copper: 263.65 (-1.70%)

Crude Oil: 57.79 (+0.96%)

New Blog Post – Rebalancing

We have a new blog post on Rebalancing your Portfolio with Stock Rover using two key Stock Rover tools: Portfolio Analytics and Portfolio Rebalancing. Read our latest blog post here.

Library Addition – Ranked Value Screener

Value stocks seem to be waking up. We have added a new screener to the Stock Rover library to help you find promising value stock candidates. The screener can be downloaded from the Stock Rover Investor’s Library if you have a Premium or Premium Plus subscription. The new screener is called the Ranked Value Screener.

Economy

Consumer prices were up +0.4% in October after being unchanged in September, with yearly inflation increasing +0.1% to +1.8%. Although yearly energy costs have decreased -4.2%, with gasoline costs dropping an even more steep -7.3%, more than half of October’s monthly increase was due to a +2.7% increase in energy costs, which itself was largely due to a +3.7% increase in gasoline prices. Core inflation, which removes the food and energy components, accelerated from September’s +0.1% gain to a +0.2% increase, but yearly inflation fell back from +2.4% in September to +2.3%. Within the core index, shelter costs were up +0.1% (+3.7% Y/Y) for renters, and +0.2% (+3.3% Y/Y) for homeowners, and medical costs were up +0.9% (+5.1% Y/Y). Prices also rose during the month for used cars (+1.3%) and motor vehicle repair, but dropped for apparel (-1.8%), tobacco (-0.4%), alcoholic beverages (-0.3%), and new vehicles (-0.2%).

Retail sales were $526.5 billion in October, up +0.3% from September with the yearly rate dropping from +4.1% in September to a five month low of +3.1%. Increasing gasoline prices helped boost gasoline sales up +1.1% for the month, but they were down -5.0% Y/Y. Sales gains were led by nonstore (e.g. online) retailers (+0.9%, +14.3% Y/Y), with additional gains for motor vehicles (+0.5%, +4.5% Y/Y), food and beverage stores (+0.5%, +3.2% Y/Y), and general merchandise stores (+0.4%, +0.9% Y/Y). Sales dropped for clothing (-1.0%, -2.7% Y/Y), furniture (-0.9%, +0.9% Y/Y), and miscellaneous stores (-0.6%, +4.3% Y/Y) which fall under NAICS code 453.

The GM auto strike was largely responsible for a -7.1% drop in motor vehicle production in October, which in turn dragged down manufacturing by -0.6% (-1.5% Y/Y) and overall industrial production by -0.8% to a yearly drop of -1.1%. Excluding motor vehicles, production was down -0.2% for the month, and -0.8% Y/Y, with gains for consumer goods (+0.5%, -0.2% Y/Y), and business equipment (+0.2%, -1.8% Y/Y), and drops for construction supplies (-0.4%, +1.1% Y/Y), business supplies (-0.6%, -1.7% Y/Y), and materials (-0.8%, -1.8% Y/Y). Mining output dropped -0.7%, and its capacity utilization fell to 88.8%, but overall output was up on a yearly basis by +2.7%. Utilities were down -2.6%, with a +5.0 increase in natural gas production somewhat offsetting a -4.0% drop in electric production, although on a yearly basis both electric production and natural gas production fell (-3.5% and -7.3%, respectively), bringing yearly utility output down -4.1%.

Upcoming Economic Reports:

Tuesday November 19 – Housing Starts

Wednesday November 20 – FOMC Minutes

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Woodward
(WWD)
Home
Depot
(HD)
Lowe’s
Companies
(LOW)
Intuit
(INTU)
JM
Smucker
(SJM)
Ashland Global
Holdings
(ASH)
TJX
Companies
(TJX)
Target
(TGT)
Ross
Stores
(ROST)
Foot
Locker
(FL)



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