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)