Month Littered with Record
Earnings led the way, and our month began with a new high for the S&P 500 as the trading session ended
August 15, 2016.
The HVACR Business Stock Index rose 46.39 points, or 3.80 percent, and ended at 12269.80. Advancing issues easily outpaced declining issues by a 21-to-11 count.
The National Association of Home Builders/Wells Fargo builder confidence index was revised downward to 58 in July, from 60 in June, but snapped back to 60 in August, with stronger new home sales and home prices.
Siemens soared 14.90 points, or 14.25 percent, and closed at 119.47. For its third quarter Siemens earned 1.372 billion euros, or 1.64 euros per share ($1.53 billion and $1.83 per share).
Despite beating estimates for second quarter earnings, Comfort Systems slid 2.72 points, or 8.52 percent. FIX earned net income of $17.7 million, or $0.47 per share, versus last year's $13.4 million, or $0.35 per share.
Hudson rose 1.87 points, or 53.43 percent. HDSN posted net income of $4.8 million, or $0.14 per share.
U.S. shipments of central air conditioners and air-source heat pumps totaled 1,022,363 units in June 2016, up 16.4 percent from 878,513 units shipped in June 2015.
Year-to-date combined shipments of central air conditioners and air-source heat pumps increased 1.8 percent to 3,989,465 units, up from 3,920,763 units shipped in June 2015.