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Markets Close on a Positive Turn

Originally published: 02.01.14 by Margot Crabtree


Wall Street rose up and up to close out 2013, with the Dow industrials hitting their longest winning streak since March, then limped into 2014.

As our trading session ended January 15, 2014, markets found some solid footing as earnings season began, and the S&P 500 closed out the session at an all-time high. Orders for durable goods were up by 3.5 percent in November, and even though new home sales fell in November, the government upwardly revised numbers for the earlier three months, and homebuilding stocks rose.

Volume was light on Wall Street as markets entered 2014, and the economic news was largely positive. National factory activity as recorded in the Institute for Supply Management's index showed a reading of 57 in December, and new orders reached a 3.5 year high.

The Economic Cycle Research Institute said that its weekly leading index, a gauge of future growth, rose to 132.9, the highest reading since April 2010.

The Commerce Department reported that construction spending increased 1 percent in November to its best level since March 2009 and the eighth straight month of gains. Despite the slow start — with the S&P beginning with the worst intro in a decade —


bank profits and technology shares pushed equities forward.

"The market will take its direction from how well, or how poorly, corporate earnings season is unfolding," said Phil Orlando, chief equity market strategist at Federated Investors. "I think we're setting up for a positive surprise."

Exchange
Symbol
Company Name
Price
7/15/14
Price
6/15/14
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 32.40 30.60 1.80 5.88% 33.17 14.57 36750 1190700
NYSE ABB ABB Ltd. 26.31 24.90 1.41 5.66% 26.63 20.65 2300000 60513000
NYSE ARG Airgas, Inc. 111.08 107.52 3.56 3.31% 112.60 88.60 73750 8192150
NYSE AOS AO Smith Corp. 52.54 53.18 -0.64 -1.20% 55.18 32.32 91220 4792698.8
NYSE FIX Comfort Systems USA, Inc. 18.76 19.06 -0.30 -1.57% 20.95 11.66 37290 699560.4
NYSE DOV Dover Corp. 96.36 91.71 4.65 5.07% 97.00 65.40 170360 16415889.6
NASD ELON Echelon Corp. 3.02 2.07 0.95 45.89% 3.19 1.99 43340 130886.8
NYSE DD E. I. DuPont de Nemours & Co. 63.73 60.84 2.89 4.75% 65.00 45.62 926100 59020353
NYSE EME EMCOR Group, Inc. 43.76 40.07 3.69 9.21% 43.98 34.61 67130 2937608.8
NYSE EMR Emerson Electric Co. 69.78 66.89 2.89 4.32% 70.66 53.09 703960 49122328.8
NYSE F Ford Motor Co. 16.70 16.86 -0.16 -0.95% 18.02 12.10 3940000 65798000
NYSE GM General Motors Co. 39.38 40.04 -0.66 -1.65% 41.85 26.19 1390000 54738200
NYSE HON Honeywell International, Inc. 89.91 87.37 2.54 2.91% 91.56 66.38 784670 70549679.7
NASD HDSN Hudson Technologies, Inc. 3.77 3.12 0.65 20.83% 5.04 1.75 25070 94513.9
NYSE IR Ingersoll-Rand Plc 62.84 57.79 5.05 8.74% 63.42 39.36 288090 18103575.6
NYSE JCI Johnson Controls, Inc. 51.39 50.95 0.44 0.86% 52.50 30.30 685160 35210372.4
NYSE LII Lennox International Inc. 88.00 80.82 7.18 8.88% 88.26 54.19 49510 4356880
NYSE LXU LSB Industries, Inc. 36.92 34.07 2.85 8.37% 42.79 28.15 22520 831438.4
NYSE MTW Manitowoc Co., Inc. 25.81 21.46 4.35 20.27% 25.12 15.90 133630 3448990.3
NYSE NWL Newell Rubbermaid, Inc. 32.07 31.08 0.99 3.19% 32.54 22.13 287200 9210504
NYSE MLI Mueller Industries, Inc. 63.58 60.68 2.90 4.78% 63.37 48.10 28270 1797406.6
OTC NSANY Nissan Motor Co. Ltd. 18.15 17.03 1.12 6.58% 24.15 16.63 2100000 38115000
NASD OFLX OmegaFlex, Inc. 20.25 20.16 0.09 0.45% 22.55 12.45 10090 204322.5
NYSE PH Parker-Hannifin Corp. 128.96 120.48 8.48 7.04% 129.77 84.50 149240 19245990.4
NYSE RBC Regal-Beloit Corp. 80.02 70.84 9.18 12.96% 88.25 61.86 45070 3606501.4
NYSE ROK Rockwell Automation 118.86 110.96 7.90 7.12% 119.03 80.60 138660 16481127.6
NYSE SI Siemens AG 137.85 131.95 5.90 4.47% 139.28 98.69 843000 116207550
NYSE SPW SPX Corp.  103.77 93.93 9.84 10.48% 101.93 67.19 45350 4705969.5
NYSE TXN Texas Instruments 43.54 42.29 1.25 2.96% 44.09 32.08 1090000 47458600
NYSE UTX United Technologies Corp. 114.07 108.53 5.54 5.10% 114.71 85.15 917580 104668350.6
NYSE WSO Watsco, Inc. 95.01 93.22 1.79 1.92% 98.13 73.61 32210 3060272.1

 

The HVACR Business Stock Index began 2014 rising in tandem with national markets, ahead 48.28 points, or 3.78 percent, to end at 1325.57. Advancing issues dominated declining issues at a 27-to-4 count.

SPX Corp. rose 9.84 points, or 10.84 percent, and was one of five components in the index making more than a 7-point jump this session. SPX said it has inked a cooperation agreement with Relational Investors LLC, in which Relational has an opportunity to appoint Relational co-founder David Batchelder to the SPX board of directors. At the end of 2013, Relational held over 15 percent of SPX stock. SPX ended at 103.77, and was the top dollar gainer.

After a hot run-up in 2013, General Motors said it expects modest pre-tax growth this year. Even so, a $1.1 billion restructuring plan for its European operations is expected to cut into its profit, leading to flat margins.

"We're taking advantage of the strength in the U.S. and China to engage in other areas such as our international operations," said GM President Dan Ammann.

Some analysts expect GM to hit sales of 16 million units, a level not seen since 2007. GM said it will pay a quarterly dividend for the first time since 2008. The company also appointed Mary Barra as CEO, the first woman to helm a global car company. GM inched south 0.66 points, or 1.65 percent, and was the top dollar and percentage loser.

Echelon hitched its star to Google's acquisition of Nest Labs, and increased 0.95 points, or 45.89 percent. Nest produces home automation devices; Echelon develops energy control networking solutions. ELON closed at 3.02, and was the top percentage gainer.


Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit www.tradetrendsonline.com.

 


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