Rover's Weekly Market Brief — 11/22/2019

Printer Friendly Printer Friendly November 22, 2019

Indices

DJIA: 27,875.60 (-0.46%)

NASDAQ: 8,520.00 (-0.24%)

S&P 500: 3,110.29 (-0.33%)

Commodities

Gold: 1,462.70 (-0.39%)

Copper: 264.35 (+0.21%)

Crude Oil: 57.93 (+0.36%)

Underappreciated Stock Rover Features – Comments and Notes

We have created a new blog post that describes two of the really useful and generally underappreciated features of Stock Rover: Comments and Notes. Both are designed to easily allow you to add your thoughts and observations to your investment process. Learn more about these two great features 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

New starts for privately owned residential construction for October were at a seasonally adjusted annual rate (SAAR) of 1.314 million, which was +3.8% higher than September, and +8.5% above October 2018. Single family home starts were up +2.0% to a SAAR of 936,000, and buildings with 5 or more units were up +6.8% to a SAAR of 362,000. A +27.3% jump in completions for 5 or more unit residences and a +4.5% increase in single family home completions helped pull overall completions up to a 1.256 million SAAR, up +10.3% for the month, and +12.4% for the year, and will provide much needed inventory for a tight housing market.

After a downwardly revised -2.5% drop in September, the National Association of Realtors (NAR) reported that existing home sales were up +1.9% in October to a 5.460 million SAAR, and up +4.6% from October 2018. Yearly gains in home prices continued for the 92nd month in a row and the median sale price was up +6.2% over the year to $270,900. However, inventory was down -2.7% from September and -4.3% over the year, with available units down to a 3.9 month supply from September’s 4.1 month supply. An NAR spokesman noted that low mortgage rates and increases in wages and employment would be likely to help sales climb, but also remarked that additional inventory would be needed to help slow increasing home prices.

The Federal Reserve released the minutes of the October 29-30 meeting in which they voted to lower the federal funds rate for the third straight meeting. The minutes noted that most participants judged the stance of policy after this rate cut would be able to support the committee’s goals for growth, employment and inflation, and that the rate would remain where it was “so long as incoming information about the economy did not result in a material reassessment of the economic outlook”. The staff review of the economic outlook indicated a strong labor market, moderate GDP growth and lower inflation, although longer run inflation was still expected to reach the 2% target rate. However, the review also found the pace of job gains slowing, drops in nonresidential fixed investment, declining industrial production, and an overall softening in manufacturing.

Upcoming Economic Reports:

Wednesday November 27 – Durable Goods Orders

Wednesday November 27 – Personal Income and Outlays

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Agilent
Technologies
(A)
VMware
(VMW)
Deere
(DE)
Lloyds
Banking Group
(LYG)
Edesa
Biotech
(EDSA)
Palo Alto
Networkds
(PANW)
Analog
Devices
(ADI)
Tiffany
(TIF)
Cadiz
(CDZI)
Can Fite
Biofarma
(CANF)



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