Stock Market Summary - Week Ending April 12, 2019

A mix of positive and negative global economic data served to leave stocks relatively flat by the end of the week. The Dow Jones Industrial Average (DJIA) closed the week -12.69 points or -0.05% lower at 26,412.30 while the S&P 500 (SPX) added 14.67 points for a 0.51% gain to close the week at 2,907.41. The Russell 2000 (RUT) closed the week 2.24 points or 0.14% higher at 1,584.80 and the Nasdaq (COMP) saw an overall boost of 45.47 points or 0.57% to finish at 7,984.16. The S&P 100 (OEX) added 5.55 points for a 0.44% increase to close at 1,281.09 and the VIX dropped -6.32% to close the week at 12.01.

Corporate Gainers

After four days of very little fluctuation, shares of Anadarko Petroleum Corp (APC) surged 32.03% on Friday, bringing the total change for the week to 31.42%. The sudden spike came upon the heels of news that energy giant Chevron (CVX) plans to purchase Anadarko in a deal roughly valued at $50 billion.

Walt Disney Co (DIS) soared 13.10% overall for the week after the entertainment giant released details regarding its new streaming service that will launch in November at subscription prices significantly lower than rival Netflix.

Pioneer Natural Resources Co (PXD) gained 11.71% for the week, riding on the heels of the aforementioned spike in Anadarko Petroleum. With oil prices going up, investors appear to be gaining optimism for the energy sector.

Corporate Sliders

Anthem Inc (ANTM) tumbled -13.79% last week as concerns continue to arise about additional regulatory actions by Congress in the healthcare industry, including talks of expanding Medicare coverage. 

National Oilwell Varco Inc (NOV) dropped -4.72% after the energy company gave a disappointing operational update for its 1st quarter stating that revenue is expected to come in weaker than previously anticipated.

Entertainment streaming giant Netflix Inc (NFLX) dipped -3.93% overall last week after announcing a price increase for its customers followed by Walt Disney Co unveiling its new streaming service set to launch in November. 

Economic Indicators of Note

The Consumer Price Index (CPI) came in higher than expected at 0.4%, largely due to an increase in oil prices. When excluding energy and food prices, the indicator actually came in lower than the consensus at 0.1%. 

Crude oil supplies increased by 7.0 million barrels to 456.6 million in the April 5 week. Gasoline supplies declined by 7.7 million barrels to 229.1 million and distillates dropped 0.1 million barrels to 128.1 million.

Initial jobless claims for the April 6th week fell a sharp 8,000 to 196,000 while continuing claims in lagging data for the March 30 week dropped by 13,000. 

Producer Prices (PPI-FD) for March registered 0.6% higher, 0.2% above the consensus and pulled higher by rising energy prices as well as finished goods.

Upcoming Economic Events
Market Movers:
Industrial Production-Tuesday @ 9:15 a.m. ET
International Trade-Wednesday @ 8:30 a.m. ET
EIA Petroleum Status Report-Wednesday @ 10:30 a.m. ET
Jobless Claims-Thursday @ 8:30 a.m. ET
Philadelphia Fed Bus Outlook-Thursday @ 8:30 a.m. ET
Retail Sales-Thursday @ 8:30 a.m. ET
Housing Starts-Friday @ 8:30 a.m. ET

Events Worth Noting
Empire State Mfg Survey-Monday @ 8:30 a.m. ET
Treasury International Capital-Monday @ 4:00 p.m. ET
Housing Market Index-Tuesday @ 10:00 a.m. ET
Beige Book-Wednesday @ 2:00 p.m. ET
Business Inventories-Thursday @ 10:00 a.m. ET
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET
Fed Balance Sheet-Thursday @ 4:30 p.m. ET

Index Trading Levels For Week Ending 4/12/2019
DJIA 26412.30 (Dow Jones)
SPX 2907.41 (S&P 500)
RUT 1584.80 (Russell 2000)
COMP 7984.16 (Nasdaq)
OEX 1281.09 (S&P 100)
VIX 12.01 (CBOE)

Stock Market Summary - Week Ending March 8, 2019

Stocks closed lower overall this week in response to signs of a slowing global economy, rising oil prices, and few surprises on the earnings front. The Dow Jones Industrial Average (DJIA) dropped -576.08 points or -2.21% to close at 25,450.24 on Friday while the S&P 500 (SPX) dropped -60.53 point or -2.16%, closing at 2,743.07. The Russell 2000 (RUT) declined an overall -67.76 points or -4.26% to close at 1,521.88 and the Nasdaq (COMP) fell -187.21 points for a -2.46% decline to close at 7,408.14. The S&P 100 (OEX) slid -21.39 points or -1.74% to finish the week at 1,211.04 and the VIX showed a slight increase in investor concerns by rising 2.48 or 18.28% to 16.05 at the close of markets on Friday. 

Corporate Gainers 

Discount retailer Big Lots Inc (BIG) surged 15.04% overall for the week after posting solid earnings for its fiscal 4th quarter. After hitting sales estimates of $1.6 billion, the company reported earnings-per-share of $2.68 which soundly beat projections of $2.30 per share. 

Costco Wholesale Corp (COST) shares had a boost of 3.82% last week after the warehouse retail company reported strong 2nd quarter earnings of $2.01 per share, easily surpassing analysts' expectations of $1.69. 

H & R Block Inc (HRB) gained 3.36% as the company's losses appear to be narrowing by 58 cents which is better than the estimated 53 cents. The company has historically posted losses in the first three quarters of its fiscal year. 

Corporate Sliders 

Kroger Co (KR) tumbled -12.67% last week as 4th quarter 2018 earnings revealed disappointing results. Revenue, net income, and earnings-per-share all fell significantly below the same quarter of the previous year. 

Devon Energy Corp (DVN) plummeted -11.41% after the oil and gas production company announced earlier in the week that it will be laying off approximately 200 employees with additional layoffs expected in the future. 

Micron Technology Inc (MU) slid -7.05%, following a generalized decline in valuation in the chip sector. Analysts have noted a definite drop in pricing of DRAM and NAND over the past few months. 

Economic Indicators of Note 

New Home Sales for December 2018 came in with stronger-than-expected results by jumping 3.7% to 621,000 compared to the expected level of 590,000. 

International Trade for December shows a further deepening of the trade deficit of -$59.8 billion when compared to the expected deficit of -$57.6 billion. 

Crude oil supplies for the March 1 week were up by 7.1 million barrels to 452.9 million. Gasoline supplies were down by 4.2 million barrels to 250.7 milion and distillates down by 2.4 million barrels to 136.0 million. 

Initial jobless claims for the week of March 2nd were down by 3,000 to 223,000 while continuing claimsin lagging data for the February 23 week were down 50,000 to to 1.755 million. The unemployment rate dipped to 3.8%. 

Housing Starts for January made a stronger-than-expected showing at 1.230 million. Analysts were expecting a consensus of 1.170 million. 

Upcoming Economic Events 
Market Movers: 
Retail Sales-Monday @ 8:30 a.m. ET 
CPI-Tuesday @ 8:30 a.m. ET 
Durable Goods Orders-Wednesday @ 8:30 a.m. ET 
PPI-FD-Wedneday @ 8:30 a.m. ET 
EIA Petroleum Status Reports-Wednesday @ 10:30 a.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
New Home Sales-Thursday @ 10:00 a.m. ET 
Industrial Production-Friday @ 9:15 a.m. ET 

Events Worth Noting 
Business Inventories-Monday @ 10:00 a.m. ET 
Construction Spending-Wednesday @ 10:00 a.m. ET 
Import and Export Prices-Thursday @ 8:30 a.m. ET 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Fed Balance Sheet-Thursday @ 4:30 p.m. ET 
Empire State Mfg Survey-Friday @ 8:30 a.m. ET 
Consumer Sentiment-Friday @ 10:00 a.m. ET 
JOLTS-Friday @ 10:00 a.m. ET 
Treasury International Capital-Friday @ 4:00 p.m. ET 

Index Trading Levels For Week Ending 3/08/2019 
DJIA 25450.24 (Dow Jones) 
SPX 2743.07 (S&P 500) 
RUT 1521.88 (Russell 2000) 
COMP 7408.14 (Nasdaq) 
OEX 1211.04 (S&P 100) 
VIX 16.05 (CBOE)

Stock Market Summary - Week Ending March 1, 2019

Stocks finished the week with mixed results but with little overall change from the prior week. The close of February showed the best-performing yearly two-month start of the S&P 500 since 1987. The Dow Jones Industrial Average (DJIA) slid -5.52 points or -0.02% to close the week at 26,026.32 while the S&P 500 (SPX) added 10.93 points or 0.39% to close at 2,803.60. The Russell 2000 (RUT) dipped -0.42 points or -0.03% to close at 1,589.64 and the Nasdaq (COMP) gained 67.81 points or 0.90% to finish the week at 7,595.35. The S&P 100 (OEX) added 7.37 points or 0.60% to close at 1,232.43 and the VIX slipped upwards 0.44% to finish the week at 13.57. 

Corporate Gainers 

Gap Inc (GPS) soared 19.18% after the apparel company which owns Banana Republic, Old Navy, Hill City, and other retail chains announced that it will be splitting into two entities with Old Navy being separate and apart as a stand-alone retailer. 

Dentsply Sirona Inc (XRAY) jumped 18.02% after the dental products company reported 4th quarter 2018 revenue that exceeded expectations of $1.03 billion by coming in at $1.06 billion, plus it adjusted its outlook higher for 2019. 

Foot Locker (FL) gained 5.75% as both top and bottom line results showed a year-over-year increase in the 4th quarter fiscal 2018. 

Corporate Sliders 

Walgreens Boots Alliance Inc (WBA) dropped -5.42% as the company's pharmacy margins are showing some sluggishness attributed to inflation of generic drugs. 

Nektar Therapeutics (NKTR) dipped -4.79% after the health technology company reported a loss of 57 cents per share for the 4th quarter 2018. 

Kroger Co (KR) slid -1.75% after the food giant announced plans to widen its ban on the acceptance of VISA cards, citing "excessive fees" as the reason for the action. 

Economic Indicators of Note 

Housing Starts for December 2018 were surprisingly weak, falling 11.2% to a rate of 1.078 million. 

International Trade in Goods for December 2018 shows a continuation in the trade gap expansion to -$79.5 billion. 

Crude oil supplies for the February 22nd week fell by 8.7 million barrels. Gasoline supplies dropped 1.9 million barrels and distillates fell 0.3 million barrels. 

GDP for Q4 2018 made a solid showing at 2.6% which was at the high end of the consensus range. 

Initial jobless claims for the February 23 week rose as expected by 8,000 to 225,000. Continuing claims in lagging data for the February 16 week were up 79,000 to 1.805 million. 

Personal income and outlays for December 2018 showed a 1.0% spike in personal income with a -0.05% decline in personal spending. 

The ISM Manufacturing Index for February shows a drop of 2.4 to 54.2. 

Upcoming Economic Events 
Market Movers: 
New Home Sales-Tuesday @ 10:00 a.m. ET 
International Trade in Goods-Wednesday @ 8:30 a.m. ET 
EIA Petroleum Status Report-Wednesday @ 10:30 a.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
Employment Situation-Friday @ 8:30 a.m. ET 
Housing Starts-Friday @ 8:30 a.m. ET 

Events Worth Noting 
Construction Spending-Monday @ 10:00 a.m. ET 
ISM Non-Mfg Index-Tuesday @ 10:00 a.m. ET 
Treasury Budget-Tuesday @ 2:00 p.m. ET 
ADP Employmet Report-Wednesday @ 8:15 a.m. ET 
Beige Book-Wednesday @ 2:00 p.m. ET 
Productivity and Costs-Thursday @ 8:30 a.m. ET 
EIA Natural Gas Report-Thuresday @ 10:30 a.m. ET 
Fed Balance Sheet-Thuresday @ 4:30 p.m. ET 

Index Trading Levels For Week Ending 3/01/2019 
DJIA 26026.32 (Dow Jones) 
SPX 2803.60 (S&P 500) 
RUT 1589.64 (Russell 2000) 
COMP 7595.35 (Nasdaq) 
OEX 1232.43 (S&P 100) 
VIX 13.57 (CBOE)

Stock Market Summary - Week Ending February 22, 2019

Continued optimism about trade talks with China along with indications that the Fed is committed to holding interest rates steady helped to boost stocks for the fourth consecutive week. The Dow Jones Industrial Average (DJIA) gained 148.59 points or 0.57% to close the week at 20,031.84 while the S&P 500 (SPX) added 17.07 points or 0.62% to finish at 2,792.67. The Russell 2000 (RUT) increased 1.33% by adding 20.81 points to close Friday at 1,590.06, and the NASDAQ (COMP) surged 55.13 points for a 0.74% gain to close at 7,527.54. The S&P 100 (OEX) added 7.10 points or 0.58% to close at 1,225.06 and the VIX dropped -9.39% to 13.51 reflecting a continued calming of market jitters. 

Corporate Gainers 

Zillow Group Inc (ZG) soared 18.36% to $43.71 after reporting 4th quarter 2018 results on Friday that soundly beat estimates and surprised investors who were expecting a decline. The gain on Friday alone was nearly 25%. 

Copart Inc (CPRT) surged 7.88% to $58.29 with a gain of nearly 6% on Thursday in high-volume trading after the company reported solid gains in its 2nd quarter fiscal 2019 earnings, surpassing estimates. 

Dooper Companies Inc (COO) had a boost of 4.84% to $292.59 per share after investor sentiment approved the expected earnings-per-share at $2.50. 

Corporate Sliders 

Concho Resources Inc (CXO) tumbled -13.77% to $106.04 per share in response to disappointing results for its 4th quarter. Both top and bottom-line results missed projections as output for the oil and gas producer, as well as prices, fell below targets. 

Campbell Soup Co (CPB) fell -5.63% to $32.83, falling -7.39% on Friday alone after Kraft Heinz reported a significant write-down on some of its brands' value along with higher-than-anticipated costs for the 4th quarter. 

Conagra Brands Inc (CRG) dropped -4.57% to $23.38. The food giant has been the subject of a securities fraud class action lawsuit filed by Saxena White, P.A. 

Economic Indicators of Note 

The FOMC meeting for January was significant in that guidance shifted to neutral from the former stance of further interest rate hikes. 

Durable Goods Orders for December 2018 rose 1.2% within the consensus range, but it is noteworthy that new orders for core capital goods slid -0.7% unexpectedly. 

Initial Jobless Claims for the February 16 week 23,000 to 216,000. Continuing claims in lagging data for the February 9 week fell by 55,000 to 1,725 million. 

The Philadelphia Fed Business Outlook Survey for February is showing contraction at -4.1 for the first time since May 2016. 

Existing Home Sales for January fell -1.2% to an annualized rate of 4.940 million. 

Crude oil supplies for the February 15 week increased by 3.7 million barrels to 454.5 million while gasoline supplies fell by 1.5 million barrels to 256.8 million. Supplies of distillates dropped by 1.5 million barrels to 138.7 million. 

Upcoming Economic Events 
Market Movers: 
Housing Starts-Tuesday @ 8:30 a.m. ET 
Jerome Powell Speaks-Tuesday @ 10:00 a.m. ET 
International Trade in Goods-Wednesday @ 8:30 a.m. ET 
Jerome Powell Speaks-Wednesday @ 10:00 a.m. ET 
EIA Petroleum Status Report-Wednesday @ 10:30 a.m. ET 
GDP-Thursday @ 8:30 a.m. ET 
Jobless Claims-Thuresday @ 8:30 a.m. ET 
Personal Income & Outlays-Friday @ 8:30 a.m. ET 
ISM Mfg Index-Friday @ 10:00 a.m. ET 

Events Worth Noting 
S&P Corelogic Case-Shiller HPI-Tuesday @ 9:00 a.m. ET 
Consumer Confidence-Tuesday @ 10:00 a.m. ET 
Factory Orders-Wednesday @ 8:30 a.m. ET 
Pending Home Sales Index-Wednesay @ 10:00 a.m. ET 
Chicago PMI-Thursday @ 9:45 a.m. ET 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Fed Balance Sheet-Thursday @ 4:30 p.m. ET 
PMI Mfg Index-Friday @ 9:45 a.m. ET 
Consumer Sentiment-Friday @ 10:00 a.m. ET 

Index Trading Levels For Week Ending 2/22/2019 
DJIA 26031.84 (Dow Jones) 
SPX 2792.67 (S&P 500) 
RUT 1590.06 (Russell 2000) 
COMP 7527.54 (Nasdaq) 
OEX 1225.06 (S&P 100) 
VIX 13.51 (CBOE)

Stock Market Summary - Week Ending February 15, 2019

Despite mixed economic data, stocks continued their rally last week boosted by optimism that another government shutdown may have been averted and trade talks with China will continue. The Dow Jones Industrial Average (DJIA) surged 776.92 points or 3.09% to close the week at 25,883.25, while the S&P 500 (SPX) had a boost of 67.72 points or 2.50% to close at 2,775.60. The Russell 2000 (RUT) added 62.86 points for a 4.17% gain to close at 1,569.25, and the Nasdaq (COMP) soared 174.21 points or 2.39% to finish at 7,472.41. The S&P 100 (OEX) gained 27.80 points for a 2.34% increase to close at 1,217.96, and the VIX fell -5.15% to 14.91 at market close Friday. 

Corporate Gainers 

SPX Corp (SPXC)surged 17.27% after beating consensus estimations for quarterly earnings-per-share by $0.09 at $0.89. This is also more than 20 cents per share compared to the same quarter a year ago. 

Arista Networks Inc (ANET) soared 16.62% overall last week, fueled by strong 4th quarter 2018 earnings that revealed growth in both the top and bottom lines that surpassed analysts' expectations. 

Radian Group Inc (RDN)gained 7.52% after the specialty insurance company posted 4th quarter earnings that beat estimates by slightly more than 6%. The company's bottom line was also higher year-over-year. 

Corporate Sliders 

Newell Brands Inc (NWL) tumbled -16.66% last week following mixed 4th quarter 2018 earnings reported on Monday. While the bottom line exceeded expectations, the top line didn't. The subsequent downward guidance adjustment for the remainder of the year further drove the stock price downward. 

After a week of strong stock price performance, shares of Mattel Inc (MAT) plunged -18.27% on Friday, bringing the week's overall results to a drop of -9.26%. The Friday plunge followed an announcement during an analyst meeting that the toy manufacturer would be downgrading its forecast for 2019 due to a reported slowing of demand for its Barbie doll. Analysts and investors alike expressed concern that the action seemed bizarre in light of the company's positive comments in the prior week regarding strong demand for Barbie. 

Analysts warned investors last week to watch Dish Network Corporation (DISH) closely due to observed activity in the options market in recent days. This is due to the February 15, 2019 $25 Put having some of the highest implied volatility observed across all equity markets. The satellite TV service stock price fell -2.03% overall for the week. 

Economic Indicators of Note 

The Consumer Price Index (CPI) for January shows consistently flat consumer prices with unchanged overall prices for the third consecutive month. 

Crude oil inventories reflect a continuing softening demand for energy with supplies up 3.6 million barrels in the February 8 week to 450.8 million. Gasoline supplies are up 0.4 million barrels to 258.3 million and distillates up 1.2 million barrels to 140.2 million. Oil prices remained steady after release of the report at $54.25. 

Producer Prices (PPI-FD) for January dropped 0.1% for the second straight month. With accompanying stability in consumer prices, inflation is remaining in check. 

Retail Sales for December slowed by -1.2% indicative of the sharpest decline since the onset of the expansion. Vehicle sales, which are not normally a strong factor in December readings actually boosted the indicator. When excluding vehicle sales, Retail Sales fell 1.8%. 

Initial Jobless Claims for the February 9 week increasd by 4,000 to 239,000 while continuing claims in lagging data for the February 2 week grew by 37,000. 

Industrial Production slipped -0.06% in January, falling below analysts' lowest estimate. 

Upcoming Economic Events 
Market Movers: 
FOMC Minutes-Wednesday @ 2:00 p.m. ET 
Durable Goods Orders-Thursday @ 8:30 a.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
Philadelphia Fed Bus Outlook-Thursday @ 8:30 a.m. ET 
Existing Home Sales-Thursday @ 10:00 a.m. ET 
EIA Petroleum Status Report-Thursday @ 11:00 a.m. ET 

Events Worth Noting 
Housing Market Index-Tuesday @ 10:00 a.m. ET 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Fed Balance Sheet-Thursday @ 4:30 p.m. ET 

Index Trading Levels For Week Ending 2/15/2019 
DJIA 25883.25 (Dow Jones) 
SPX 2775.60 (S&P 500) 
RUT 1569.25 (Russell 2000) 
COMP 7472.41 (Nasdaq) 
OEX 1217.96 (S&P 100) 
VIX 14.91 (CBOE)

Stock Market Summary - Week Ending February 8, 2019

A week of ups and downs ended with major indices mostly flat from the prior week. Concerns over a slowing European economy were calmed somewhat by news that the U.S. and China are still willing to negotiate a trade agreement. The Dow Jones Industrial Average closed the week 42.44 points higher at 25,106.33 up 0.17% while the S&P 500 (SPX) crept up 1.35 points or 0.05% overall to close at 2,707.88. The Russell 2000 (RUT) added 4.34 points or 0.29% to close at 1,506.39 and the Nasdaq (COMP) finished at 7,298.20, up 34.33 points or 0.47%. The S&P 100 (OEX) dropped -1.51 points or -0.13% to close at 1,190.16 and the VIX dropped -2.60% over to 15.72 at market close on Friday. 

Corporate Gainers 

Mattel Inc (MAT) soared 24.63% overall for the week, trading at $15.23 at market close Friday. This followed an upbeat 4th quarter earnings report attributed in large part fo a boost in sales of Barbie toys and a higher operating margin. 

Coty Inc (COTY) surged 23.74% trading at $9.33 on Friday with a high level of implied volatility on Thursday. The cosmetic giant reported 2nd quarter earnings on Friday that surpassed estimates although revenues were down year-over-year. 

Motorola Solutions (MSI) gained 14.36% trading at $135.37 per share at market close. The gain came on the heels of the release of 4th quarter earnings showing earnings-per-share of $2.44 compared to a loss of -$3.56 per share a year ago. Quarterly net sales hit a record high. 

Corporate Sliders 

Henry Schein Inc (HSIC) tumbled -23.42% to $59.15. The company, a wholesaler of medical, dental, and animal health products, entered oversold territory by hitting an RSI (Relative Strength Index) of 21.7. 

Goodyear Tire & Rubber Co (GT) fell -11.08% to $18.69 per share as 4th quarter earnings missed estimates and declined year-over-year. 

Arconic Inc (ARNC) declined -7.57% to $17.10 per share despite surpassing estimates for earnings and revenue in the 4th quarter. The dip followed the announcement that Chip Blankenship is out as CEO after scarcely a year in the position. 

Economic Indicators of Note 

International Trade in Goods for November, released February 6th, revealed a sharp narrowing of the trade deficit to -$49.3 billion from the prior revised -$55.7 billion. 

Crude oil supplies were up 1.3 million barrels to 447.2 million in the February 1 week. Supplies of gasoline were up by 0.5 million to 257.9 million and distillates were down 2.3 million to 139.0 million. 

Initial jobless claims for the February 2 week dropped sharply by 19,000 to 234,000. Continuing claims in lagging data for the January 26 week were down 42,000 to 1.736 million. 

Upcoming Economic Events 
Market Movers: 
CPI-Wednesday @ 8:30 a.m. ET 
EIA Petroleum Status Report-Wednesday @ 10:30 a.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
PPI-FD-Thursday @ 8:30 a.m. ET 
Retail Sales-Thursday @ 8:30 a.m. ET 
Industrial Production-Friday @ 9:15 a.m. ET 

Events Worth Noting 
JOLTS-Tuesday @ 10:00 a.m. ET 
Business Inventories-Thursday @ 10:00 a.m. ET 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Federal Balance Sheet-Thursday @ 4:30 p.m. ET 
Empire STate Mfg Survey-Friday @ 8:30 a.m. ET 
Import and Export Prices-Friday @ 8:30 a.m. ET 
Consumer Sentiment-Friday @ 10:00 a.m. ET 

Index Trading Levels For Week Ending 2/08/2019 
DJIA 25106.33 (Dow Jones) 
SPX 2707.88 (S&P 500) 
RUT 1506.39 (Russell 2000) 
COMP 7298.20 (Nasdaq) 
OEX 1190.16 (S&P 100) 
VIX 15.72 (CBOE)

Stock Market Summary - Week Ending February 1, 2019

January of 2019 closed on a positive note with stocks continuing to gain overall and with the S&P 500 performing in its best month since 1987. Strong earnings reports combined with the FOMC taking a step back from any hints of a rate hike in the foreseeable future served to boost investor confidence. 

The Dow Jones Industrial Average (DJIA) closed the week 326.69 points higher for a 1.32% gain at 25,063.89 while the S&P 500 (SPX) rose 41.77 points to close the week at 2,706.53 for a gain of 1.57%. The Russell 2000 (RUT) added 19.20 points or 1.29% to finish the week at 1,502.05 and the Nasdaq (COMP) gained 99.01 points or 1.38% to finish at 7,263.87. The S&P 100 (OEX) increased 15.56 points for a 1.32% increase to close at 1,191.67 and the VIX fell -7.35% to close at 16.14. 

Corporate Gainers 

Symantec Corp (SYMC) soared 12.41% overall for the week after reporting earnings for its fiscal 3rd quarter 2019 that surpassed analysts' estimates by 5 cents. The stock was trading at $22.91 per share at market close on Friday. 

Zimmer Biomet Holdings Inc (ZBH) surged 8.56%, trading at $116.60 per share at Friday's close. The medical device company reported strong earnings for its 4th quarter fiscal 2018 on the heels of FDA approval of the company's new knee replacement system. 

Aon PLC (AON) increased 8.47 after posting adjusted earnings-per-share of $2.14 for its 4th quarter 2018, trading at $167.46 per share at market close Friday. The company is an insurance brokerage firm trading in the finance sector of the S&P 500. 

Corporate Sliders 

Westrock Co (WRK) tumbled -8.49% last week overall, trading at $38.70 per share at market close on Friday. The producer of paper and packaging products posted 1st quarter earnings that were sharply down from the prior quarter. 

Kohls Corp (KSS) dropped -5.67%, trading at $66.69 Friday at market close. The retailer reported a slowing of sales growth from the holiday season of 2018 yet raised its outlook for the coming year. 

Amazon.com Inc (AMZN) slumped -2.65%, trading at $1,626.23 per share at market close despite posting strong earnings for its 4th quarter 2018. The drop is attributed to the online retail giant's lower-than-expected guidance going forward. 

Economic Indicators of Note 

International Trade in Goods for November and December have been delayed. There is no consensus at this time. 

GDP is delayed for q4(a) of 2018 due to partial government shutdown. The consensus is for 2.3% to 2.9% range for real GDP quarter to quarter change. 

Crude oil supplies were up 0.9 million to 445.9 million in the January 25 week. Supplies of gasoline were down by 2.2 million to 257.4 million and distillates were down 1.1 million to 141.3 million. 

Initial jobless claims shot up 53,000 in the January 26 week to 253,000 with a small portion attributable to furloughed Federal employees. Continuing claimsin lagging data for the January 19 week increased a sharp 69,000. The four-week average is 8,000 higher at 1.738 million. The unemployment rate rose 0.1 to 4.0. 

The Personal Income and Outlays report has been delayed. Analysts expect a moderate 0.3% rise. 

New Home Sales surged 16.9% in November to an annualized rate of 657,000. 

The ISM Mfg Index for January reflects solid growth that accelerated from December's soft reading. The index grew 2.3 points to 56.6 

Upcoming Economic Events 
Market Movers: 
International Trade - Wednesday @ 8:30 am ET 
EIA Petroleum Status Report- Wednesday @ 10:30 am ET 
Jerome Powell speaks -Wednesday @ 7:00 pm ET 
Jobless Claims -Thursday @ 8:30 am ET 

Events Worth Noting 
Factory Orders - Monday @ 10:00 am ET 
ISM Non-Mfg Index - Tuesday @ 10:00 am ET 
Productivity and Costs - Wednesday @ 8:30 am 
EIA Natural Gas Report - Thursday @ 10:30 am 
Fed Balance Sheet - Thursday @ 4:30 pm 

Index Trading Levels For Week Ending 2/01/2019 
DJIA 25063.89 (Dow Jones) 
SPX 2706.53 (S&P 500) 
RUT 1502.05 (Russell 2000) 
COMP 7263.87 (Nasdaq) 
OEX 1191.67 (S&P 100) 
VIX 16.14 (CBOE)

Stock Market Summary - Week Ending January 25, 2019

Stocks closed the week virtually unchanged from the prior week, seemingly taking a breather from the volatility of December. As the partial government shutdown appeared to be at a stalemate, the International Monetary Fund (IMF) cut its global growth forecasts for 2019 and 2020 amid an economic slowing in China and Brexit tensions. Late in the day on Friday, the government announced a temporary 3-week end to the shutdown. 

The Dow Jones Industrial Average (DJIA) closed the week 30.85 points higher or 0.12% at 24,737.20 while the S&P 500 (SPX) slipped -5.95 points or -0.22% to close the week at 2,664.76. The Russell 2000 (RUT) crept up 0.35 points of 0.02% to finish at 1,482.85 and the Nasdaq (COMP) added 7.63 points for a 0.11% gain to close at 7,164.86. The S&P 100 (OEX) slid -5.44 points or -0.46% to end the week at 1,176.11 and the VIX calmed slightly by falling -0.38 or -2.13% to close the week at 17.42. 

Corporate Gainers 

Western Digital Corp (WDC) soared 10.10% for the week, trading at $43.16 at Friday's close. The hard disk drive manufacturer was a top performer in the S&P 500 on Friday in high-volume trading. The stock fell in response to a negative earnings report but quickly reversed its course in sync with other technology stocks. 

Micron Technology Inc (MU) gained 8.95% overall in high trading volume for the week with a Friday closing stock price of $38.96, also gaining from the momentum shown by other companies in the technology sector. 

Shares of SVB Financial Group (SIVB) surged 4.81% with a closing stock price of $242.09 on Friday as venture capital investors responded favorably to the financial company's 4th quarter earnings. Earnings were up 127% from a year ago, largely attributed to rising interest rates and lower taxes. 

Corporate Sliders 

ResMed Inc (RMD) plunged -19.76% overall for the week, trading at $94.56 per share at Friday's market close. The drop followed the 2nd quarter earnings reported posted by the health equipment manufacturer in which adjusted revenue fell short of analysts' expectations. 

AbbVie Inc (ABBV) tumbled -10.01% to a Friday closing price of $80.54 per share. The drop appeared to be spurred by the pharmaceutical company's 4th quarter earnings report that missed expectations. The disappointing earnings appear to be due to cheaper alternatives from overseas suppliers to the company's popular drug for the treatment of rheumatoid arthritis, Humira. 

Intuitive Surgical (ISRG) slid -5.07%, trading at $515.04 per share at market close, after posting disappointing 4th quarter earnings. The medical equipment company is a pioneer in developing minimally invasive robotically-assisted surgery equipment. 

Economic Indicators of Note 

Existing Home Sales for December fell a sharp -6.4% to an annualized rate of 4.990 million. This occurred despite a downward move in mortgage rates. 

Initial jobless claims for the January 19 week dropped 19,000 to below 200,000 at 199,000. It is noteworthy that this is the lowest level in almost 50 years when the labor force was roughly half of the size it is today. 

Continuing jobless claims in lagging data for the January 12 week fell by 24,000. 

Crude oil supplies increased by 8.0 million barrels to 445.0 million in the January 18 week while gasoline supplieswere up by 4.1 million barrels to 259.6 million. Supplies of distillates declined by 0.6 million barrels to 142.4 million. 

Upcoming Economic Events 
Market Movers: 
International Trade in Goods-Tuesday @ 8:30 a.m. ET 
GDP-Wednesday @ 8:30 a.m. ET 
EIA Petroleum Status Report-Wednesday @ 10:30 a.m. ET 
FOMC Meeting Announcement-Wednesday @ 2:00 p.m. ET 
Fed Chair Press Conference-Wednesday @ 2:30 p.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
Personal Income & Outlays-Thursday @ 8:30 a.m. ET 
Employment Situation-Friday @ 8:30 a.m. ET 
ISM Manufacturing Index-Friday @ 10:00 a.m. ET 

Events Worth Noting 
S&P Corelogic Case-Shiller HPI-Tuesday @ 9:00 a.m. ET 
Consumer Confidence -Tuesday @ 10:00 a.m. ET 
ADP Employment Report-Wednesday @ 8:15 a.m. ET 
Pending Home Sales Index-Wednesday @ 10:00 a.m. ET 
Employment Cost Indexq-Thursday @ 8:30 a.m. ET 
Chicago PMI-Thursday @ 9:45 a.m. ET 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Fed Balance Sheet-Thursday @ 4:30 p.m. ET 
Motor Vehicle Sales-Friday 
Construction Spending-Friday @ 10:00 a.m. ET 
Consumer Sentiment-Friday @ 10:00 a.m. 

Index Trading Levels For Week Ending 1/25/2019 
DJIA 24737.20 (Dow Jones) 
SPX 2664.76 (S&P 500) 
RUT 1482.85 (Russell 2000) 
COMP 7164.86 (Nasdaq) 
OEX 1176.11 (S&P 100) 
VIX 17.42 (CBOE)

Stock Market Summary - Week Ending January 18, 2019

Stocks gained for the fourth week in a row as positive corporate earnings and news that China may be willing to take steps to reduce its trade surplus with the U.S. was welcomed by investors. The Dow Jones Industrial Average (DJIA) soared 710.40 points overall for a 2.96% gain to close the week at 24,706.35 while the S&P 500 (SPX) increased 74.45 points to close at 2,670.71, a gain of 2.87%. The Russell 2000 (RUT) closed the week 35.12 points higher for a 2.43% rise to 1,482.50 and the Nasdaq (COMP) surpassed the 7,000 mark again by surging 185.75 points for a 2.66% rise to close the week at 7,157.23. The S&P 100 (OEX) added 32.20 points or 2.80% to close the week at 1,181.55 and the VIX dropped -0.39 or -2.14% to 17.80 at market close on Friday. 

Corporate Gainers 

Shares of Attunity Ltd gained steadily throughout the week yet dropped more than -2% on Friday. The Friday drop was not enough to wipe out the gains, however, and the software services company managed to soar 21.09% overall for the week with a high volume of trading on Thursday. 

VF Corp (VFC) surged 15.23% overall for the week after posting robust earnings for the 3rd quarter fiscal 2019. The top and bottom lines both exceeded analysts' expectations for the apparel merchandiser. 

Edwards Lifesciences Corp (EW) gained 10.22% last week as investors reacted favorably to news that the company, a leader in heart valve replacement systems, has agreed to pay competitor Boston Scientific Corp (BSX)$180 million to settle a patent dispute. 

Corporate Sliders 

Signet Jewelers Ltd (SIG) plummeted -28.52% after the company reported weak holiday sales for the 2018 season. The news was accompanied by indications that the company plans to close additional stores in the coming months. 

Electroics For Imaging Inc (EFII) plunged -9.34% last week after the tech imaging company cut its guidance for the quarter based upon reduced capital expenditures for the quarter. 

Atlassian Corp (TEAM) an information technology company based in London tumbled -5.21% despite posting positive earnings and upbeat revenue for its fiscal 2nd quarter. Possible causes for the drop were not disclosed but high trading volume was noted. 

Economic Indicators of Note 

Producer Prices for December fell -0.2% largely due to the decline in oil prices. Core producer prices dropped -0.1%. 

Crude oil supplies dropped by -2.7 million barrels in the January 11 week to 437.1 million. Gasoline supplies were up by 7.5 million barrels to 255.6 million and distillates increased by 3.0 million barrels to 143.0 million. 

Initial jobless claims fell by 3,000 to 213,000 in the January 12 week while continuing claims for the January 5 week grew by 18,000 bringing the four-week average to 1.729 million. 

Despite a slowing in the factory sector during the latter part of 2018, the Philadelphia Fed Business Outlook Survey for January shows a definite acceleration trend for the beginning of 2019. The general conditions index is up by nearly 8 points to 17.0. 

Industrial Production for December surpassed expectations for manufacturing mostly due to a surge in motor vehicle production, construction supplies, and business equipment. Manufacturing month-to-month grew 1.1% while overall production rose 0.3%. 

Upcoming Economic Events 
Market Movers: 
Markets Closed - Holiday-Monday 
Existing Home Sales-Tuesday @ 10:00 a.m. ET 
Jobless Claims-Thursday @ 8:30 a.m. ET 
EIA Petroleum Status Report-Thursday @ 11:00 a.m. ET 
Durable Goods Orders-Friday @ 8:30 a.m. ET 
New Home Sales-Friday @ 10:00 a.m. ET 

Events Worth Noting 
Markets Closed - Holiday-Monday 
EIA Natural Gas Report-Thursday @ 10:30 a.m. ET 
Fed Balance Sheet-Thursday @ 4:30 p.m. ET 

Index Trading Levels For Week Ending 1/18/2019 
DJIA 24706.35 (Dow Jones) 
SPX 2670.71 (S&P 500) 
RUT 1482.50 (Russell 2000) 
COMP 7157.23 (Nasdaq) 
OEX 1181.55 (S&P 100) 
VIX 17.80 (CBOE)