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Most Markets Back Away from Post-Election Rally

Originally published: 01.17.17 by Margot Crabtree


The Dow industrials played peek-a-boo with 20,000 for most of our session, but pulled back as our trading session ended January 13, 2017.

The Commerce Department reported that a data calculation for business investment increased by 0.9 percent in November following a small rise in October, however, that followed a 1.5 percent decrease in September. The Commerce Department said that November factory orders dropped, the first decline in five months, down 2.4 percent.

The National Association of Realtors said that its November pending home sales index slid 2.5 percent, to 107.3, the weakest reading since the start of 2016. However, the Commerce Department reported that November new home sales were up 5.2 percent; sales were 16.5 percent ahead of last year.

The Conference Board reported that its December consumer confidence index improved to 113.7, from an upwardly-revised reading of 109.4 in November, above a Reuters estimate of 109. Markets began 2017 with a rush, and the Dow industrials topped out at 19,999.63 before closing below that number.

The Commerce Department said that retail sales increased 0.6 percent in December, powered by car sales, which gained 2.4 percent in the month. Excluding cars and gas, retail sales were unchanged from November. The Institute for


Supply Management’s services index was 57.2 in December, unchanged from the month before, but the best reading since October 2015; the industry has improved for 83 consecutive months.

The Labor Department said that wholesale prices, as enumerated by the Producer Price Index, rose 0.3 percent in December, pushed by food, gas and cars. The Labor Department said that weekly applications for jobless benefits increased by 10,000, but still near historic lows.

The department reported that employers posted more jobs in November, up 1.3 percent, and hiring rose 1.1 percent. Quits also increased, suggesting strength in the labor market ahead. Thomson Reuters said it expects companies to report their best earnings growth in three years.

“The positive outlook for the U.S. economy has not changed since November,” said Kathy Lien, managing director of FX strategy at BK Asset Management. “American companies are adding jobs, paying more wages and optimism is on the rise.”

Exchange
Symbol
Company Name
Price
1/13/17
Price
12/15/16
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 32.90 32.75 0.15 0.46% 34.16 19.06 52760 1735804
NYSE ABB ABB Ltd. 22.48 20.97 1.51 7.20% 22.92 15.74 2140000 48107200
NYSE AOS AO Smith Corp. 48.46 48.61 -0.15 -0.31% 51.49 30.15 147700 7157542
NYSE FIX Comfort Systems USA, Inc. 33.80 34.20 -0.40 -1.17% 35.25 24.22 36910 1247558
NYSE DOV Dover Corp. 79.65 76.03 3.62 4.76% 81.49 50.91 155350 12373627.5
NASD ELON Echelon Corp. 4.75 5.26 -0.51 -9.70% 6.70 4.17 4430 21042.5
NYSE DD E. I. DuPont de Nemours & Co. 73.60 74.89 -1.29 -1.72% 75.86 50.88 869340 63983424
NYSE EME EMCOR Group, Inc. 68.96 72.53 -3.57 -4.92% 73.44 40.98 60650 4182424
NYSE EMR Emerson Electric Co. 57.12 56.18 0.94 1.67% 58.28 41.25 644450 36810984
NYSE FCAU Fiat Chrysler 9.73 8.73 1.00 11.45% 11.32 5.45 1290000 12551700
NYSE F Ford Motor Co. 12.63 12.58 0.05 0.40% 14.22 11.02 3900000 49257000
NYSE GM General Motors Co. 37.34 36.24 1.10 3.04% 38.16 26.69 1520000 56756800
NYSE HON Honeywell International, Inc. 118.07 116.34 1.73 1.49% 120.02 93.71 762120 89983508.4
NASD HDSN Hudson Technologies, Inc. 7.84 7.66 0.18 2.35% 8.50 2.64 41410 324654.4
NYSE IR Ingersoll-Rand Plc 77.27 77.23 0.04 0.05% 79.21 47.08 258330 19961159.1
NYSE JCI Johnson Controls, Inc. 43.66 42.42 1.24 2.92% 48.97 28.94 935800 40857028
NYSE LII Lennox International Inc. 149.38 157.30 -7.92 -5.03% 164.57 105.65 43050 6430809
NYSE LXU LSB Industries, Inc. 8.16 8.19 -0.03 -0.37% 15.50 3.68 27910 227745.6
NYSE MTW Manitowoc Co., Inc. 5.96 5.90 0.06 1.02% 17.40 3.65 138770 827069.2
NYSE MLI Mueller Industries, Inc. 39.50 40.54 -1.04 -2.57% 41.81 23.09 57380 2266510
NYSE NWL Newell Rubbermaid, Inc. 47.00 46.68 0.32 0.69% 55.45 33.26 482400 22672800
OTC NSANY Nissan Motor Co. Ltd. 20.15 19.80 0.35 1.77% 20.76 16.57 3970000 79995500
NASD OFLX OmegaFlex, Inc. 49.96 50.57 -0.61 -1.21% 64.91 27.51 10090 504096.4
NYSE PH Parker-Hannifin Corp. 146.25 143.00 3.25 2.27% 146.34 83.32 133400 19509750
NYSE RBC Regal-Beloit Corp. 71.80 72.20 -0.40 -0.55% 75.60 47.77 44760 3213768
NYSE ROK Rockwell Automation 141.99 136.21 5.78 4.24% 142.54 87.53 128720 18276952.8
OTC SIEGY Siemens Aktiengesellschaft  123.80 120.66 3.14 2.60% 125.00 86.58 808280 100065064
NYSE SPXC SPX Corp.  24.83 24.39 0.44 1.80% 25.95 7.74 41890 1040128.7
NYSE TXN Texas Instruments 75.00 73.45 1.55 2.11% 75.29 46.73 999490 74961750
NYSE UTX United Technologies Corp. 110.22 108.13 2.09 1.93% 112.83 83.39 823410 90756250.2
NYSE WSO Watsco, Inc. 150.45 150.77 -0.32 -0.21% 159.55 106.58 27530 4141888.5

 

 
Price 1/13/17
Price 12/15/16
Net Change
Percent Change
HVACR Business Stock Index 1,405.96 1,379.05 26.92 1.95%
Dow Jones Industrial Average 19,885.73 19,852.24 33.49 0.17%
S&P 500 Index 2,274.64 2,262.03 12.61 0.56%
NASDAQ Composite 5,574.12 5,456.85 117.27 2.15%

 

Gainers/Losers
$ Gainer Rockwell Automation 5.78
$ Loser Lennox International Inc. -7.92
 
% Gainer Fiat Chrysler 11.45%
% Loser Echelon Corp. -9.70%
 
Advancers 20
Decliners 11

 

The HVACR Business Stock Index closed in positive terrain, up 26.92 points, or 1.95 percent, and closed at 1405.96. Advancing issues topped declining issues at a 20-to-11 count.

Rockwell Automation jumped 5.78 points, or 4.24 percent, and closed at 141.99. Morgan Stanley upped its rating to “equal weight” from “underweight.” Bank of America/Merrill increased its rating to “neutral” from “underperform.” ROK was the top dollar gainer.

Fiat Chrysler was up 1 point even, or 11.45 percent. The company announced plans to invest $1 billion in the U.S. to build three Jeeps and a RAM truck in facilities in Michigan and Ohio, with the addition of 2,000 employees. FCAU ended at 9.73, and was the top percentage gainer.

Lennox tumbled 7.92 points, or 5.03 percent. Morgan Stanley cut its rating to “underweight” from “equal-weight.” Their current price target is $156. Vertical Research re-stated their rating of “hold” for LII stock. Lennox ended at 149.38, and was the top dollar loser.

 


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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