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Markets End Mixed Despite Broad Rally

Originally published: 07.17.15 by Margot Crabtree


Although markets began our session with a record high for the Nasdaq and closed with a broad rally, the rest of the session was volatile as investors grappled with the Greek debt crisis. As our trading session ended July 15, 2015, investors overlooked earnings and concentrated on the uncertainty in post-referendum Greece.

The Conference Board said that its index of leading indicators, a gauge of future economic health, gained 0.7 percent in May, mirroring the improvement in April. Consumer spending was on the upswing in May: the Commerce Department reported a rise of 0.9 percent, the largest monthly gain since August 2009.

The Commerce Department said that the economy contracted less than previously expected, posting a 0.2 percent shrinkage from January through March, rather than the 0.7 percent level announced earlier. Manufacturing growth improved in June as the Institute for Supply Management’s manufacturing index rose to 53.5, from 52.8 in May, in line with January’s number for the highest this year.

As June wrapped up, stocks endured their worst day of the year. New home sales rose 2.2 percent in May and sales of existing homes rose 5.1 percent, but durable goods were down 1.8 percent in May following a similar drop


in April.

The National Association of Home Builders/Wells Fargo builder sentiment index improved to 59 in June, from May’s 54, and builders’ outlook on sales for the next six months is at its best in 10 years. The Commerce Department reported a 0.8 percent in total construction spending in May, the strongest activity since October 2008.

The largest gain came in non-residential construction, including hotels, amusement parks and manufacturing facilities and governmental projects. Alcoa kicked off the earnings season, but the results paled against the backdrop of Greece uncertainty and the tumble in the Chinese stock market.

“You come in some days and it looks like it’s all clear and that Greece has been resolved, and the next day it hasn’t,” said Michael Scanlon, portfolio manager with John Hancock Asset Management.

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. 22.52 23.55 -1.03 -4.37% 25.17 16.78 54140 1219232.8
NYSE ABB ABB Ltd. 20.52 22.51 -1.99 -8.84% 24.15 19.14 2240000 45964800
NYSE ARG Airgas, Inc. 103.99 105.01 -1.02 -0.97% 119.00 99.61 74620 7759733.8
NYSE AOS AO Smith Corp. 67.96 72.78 -4.82 -6.62% 74.40 44.60 76050 5168358
NYSE FIX Comfort Systems USA, Inc. 22.98 23.05 -0.07 -0.30% 23.96 12.63 36860 847042.8
NYSE DOV Dover Corp. 65.81 71.89 -6.08 -8.46% 90.65 64.69 160380 10554607.8
NASD ELON Echelon Corp. 0.71 0.90 -0.19 -21.11% 2.74 0.63 44050 31275.5
NYSE DD E. I. DuPont de Nemours & Co. 59.00 69.05 -10.05 -14.55% 76.59 57.87 905240 53409160
NYSE EME EMCOR Group, Inc. 48.31 47.01 1.30 2.77% 48.89 38.68 62690 3028553.9
NYSE EMR Emerson Electric Co. 53.48 58.70 -5.22 -8.89% 68.23 53.26 668300 35740684
NYSE FCAU Fiat Chrysler 14.83 15.51 -0.68 -4.38% 17.08 8.54 1290000 19130700
NYSE F Ford Motor Co. 14.75 15.05 -0.30 -1.99% 18.12 13.26 3900000 57525000
NYSE GM General Motors Co. 31.43 35.46 -4.03 -11.36% 38.99 28.82 1610000 50602300
NYSE HON Honeywell International, Inc. 103.84 103.44 0.40 0.39% 107.10 82.89 781710 81172766.4
NASD HDSN Hudson Technologies, Inc. 3.22 4.03 -0.81 -20.10% 4.80 2.60 32360 104199.2
NYSE IR Ingersoll-Rand Plc 67.37 69.04 -1.67 -2.42% 70.93 52.47 264720 17834186.4
NYSE JCI Johnson Controls, Inc. 48.67 51.58 -2.91 -5.64% 54.52 38.60 654830 31870576.1
NYSE LII Lennox International Inc. 107.57 113.60 -6.03 -5.31% 118.43 72.91 45000 4840650
NYSE LXU LSB Industries, Inc. 39.07 43.15 -4.08 -9.46% 47.33 28.91 22730 888061.1
NYSE MTW Manitowoc Co., Inc. 18.30 19.66 -1.36 -6.92% 32.29 16.24 136150 2491545
NYSE MLI Mueller Industries, Inc. 34.33 35.41 -1.08 -3.05% 37.18 27.10 56930 1954406.9
NYSE NWL Newell Rubbermaid, Inc. 41.91 40.60 1.31 3.23% 42.61 30.85 268700 11261217
OTC NSANY Nissan Motor Co. Ltd. 19.72 20.40 -0.68 -3.33% 21.75 16.65 2100000 41412000
NASD NTK Nortek, Inc. 83.60 84.00 -0.40 -0.48% 89.92 70.73 16270 1360172
NASD OFLX OmegaFlex, Inc. 37.60 35.30 2.30 6.52% 39.46 15.93 10090 379384
NYSE PH Parker-Hannifin Corp. 113.04 118.20 -5.16 -4.37% 133.41 99.82 138680 15676387.2
NYSE RBC Regal-Beloit Corp. 68.90 75.86 -6.96 -9.17% 81.36 62.15 44810 3087409
NYSE ROK Rockwell Automation 122.89 123.90 -1.01 -0.82% 127.05 98.55 134580 16538536.2
OTC SIEGY Siemens Aktiengesellschaft  102.60 104.52 -1.92 -1.84% 128.28 95.27 827020 84852252
NYSE SPW SPX Corp.  67.68 71.47 -3.79 -5.30% 107.76 66.84 41030 2776910.4
NYSE TXN Texas Instruments 49.49 53.04 -3.55 -6.69% 59.99 41.47 1040000 51469600
NYSE UTX United Technologies Corp. 111.25 114.61 -3.36 -2.93% 124.45 97.30 890200 99034750
NYSE WSO Watsco, Inc. 124.40 122.58 1.82 1.48% 131.10 84.28 27570 3429708

 

The HVACR Business Stock Index tumbled 65.53 points, or 5.12 percent, and closed at 1214.01. Declining issues easily outpaced advancing issues by a 28-to-5 count.

DuPont lost 10.05 points, or 14.55 percent and hit a 52-week low after the spin-off of its performance chemicals business, Chemours, which now trades on the New York Exchange under the ticker “CC.”

Investment firm RBC Capital Markets maintained its “sector perform” on DuPont, but cut its price target to $64, from $69. DD closed at 59 even, and was the top dollar loser. OmegaFlex was the top dollar and percentage gainer this session, but there was little news to explain the increase except for increased volume toward the end of June.

OmegaFlex will report earnings at the end of July. OFLX rose 2.30 points, or 6.52 percent, and ended at 37.60. Echelon Corp received a notice from the NASDAQ Market about ELON’s failure to comply with exchange’s minimum pricing rule.

The company has until December 22, 2015 to regain compliance with listing standards. ELON slid 0.19 points, or 21.11 percent, and was the top percentage loser. Echelon closed at 0.71.


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

 




About Margot Crabtree

Margot 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 tradetrendsonline.com.

 

 




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