Facebook Twitter LinkedIn Google+


Despite Wrinkles, Markets Continue Bullish Dominance

Originally published: 06.16.17 by Margot Crabtree


Geo-political turmoil and dust-ups closer to home ruffled the calm, but the stock market continued its determined upward trend. As our trading session ended June 15, 2017, Wall Street shed some of its optimism to close on a downward trend.

The March National Association of Home Builders/Wells Fargo builder sentiment index increased to 70, from April’s 68. The Commerce Department said that new home sales tumbled 11.4 percent in April. The National Association of Realtors said that sales of existing homes in April fell 2.3 percent, as supply shrinks and prices rise.

The Commerce Department said that overall construction spending slid 1.4 percent in April, the deepest drop since a 2.9 downturn a year ago in April. The department also said that new home sales tumbled 11.4 percent in April.

The Commerce Department said that factory orders fell in April 0.2 percent, down for the first time in five months. It was the first drop since November. The Institute for Supply Management reported that its national factory activity inched forwarded to 54.9 in May, from 54.8 in April.

The Commerce Department said that consumer spending rose 0.4 percent in April, from a 0.3 percent in March. Incomes also increased, up 0.4 percent. The


Conference Board reported that its consumer confidence index fell to 117.9 in May, from 119.4 in April. The index was 124.9 in March, the highest level in 16 years.

The Commerce Department reported that wholesale inventories slid 0.5 percent in April following a 0.1 percent increase in March. It was greater drop than expected. Job openings in April rose 4.5 percent, the most in 16 years, but hiring fell and not as many people quit. Congressional testimony from James Comey buoyed the market because there were no new revelations.

“This is a market that’s taking a breather and is prepared to move, the question is in which direction?” said Quincy Krosby, a market strategist at Prudential Financial. “Perhaps the move is going to be, in the short term, a pullback and perhaps that’s another reason we have money going into the Treasury markets as a hedge.”

 

Exchange
Symbol
Company Name
Price
6/15/17
Price
5/15/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 37.65 36.60 1.05 2.87% 38.20 25.33 52600 1980390
NYSE ABB ABB Ltd. 24.91 24.78 0.13 0.52% 25.83 18.72 2140000 53307400
NYSE AOS AO Smith Corp. 56.80 54.00 2.80 5.19% 57.22 40.51 146890 8343352
NYSE FIX Comfort Systems USA, Inc. 35.70 35.10 0.60 1.71% 39.67 26.05 37120 1325184
NYSE DOV Dover Corp. 82.38 81.32 1.06 1.30% 84.40 63.93 155670 12824094.6
NASD ELON Echelon Corp. 5.83 6.66 -0.83 -12.46% 7.20 4.17 4440 25885.2
NYSE DD E. I. DuPont de Nemours & Co. 82.17 79.46 2.71 3.41% 83.93 61.12 867030 71243855.1
NYSE EME EMCOR Group, Inc. 65.31 64.74 0.57 0.88% 73.44 45.47 59230 3868311.3
NYSE EMR Emerson Electric Co. 60.26 58.34 1.92 3.29% 64.36 48.45 644480 38836364.8
NYSE FCAU Fiat Chrysler 10.68 11.14 -0.46 -4.13% 11.65 5.45 1540000 16447200
NYSE F Ford Motor Co. 11.24 10.94 0.30 2.74% 14.04 10.67 3910000 43948400
NYSE GM General Motors Co. 34.60 33.82 0.78 2.31% 38.55 27.34 1510000 52246000
NYSE HON Honeywell International, Inc. 134.47 131.98 2.49 1.89% 135.00 105.25 762340 102511859.8
NASD HDSN Hudson Technologies, Inc. 8.44 8.14 0.30 3.69% 8.93 3.09 41540 350597.6
NYSE IR Ingersoll-Rand Plc 89.86 88.53 1.33 1.50% 90.18 59.10 256020 23005957.2
NYSE JCI Johnson Controls, Inc. 41.94 42.45 -0.51 -1.20% 48.97 39.16 938110 39344333.4
NYSE LII Lennox International Inc. 187.72 167.88 19.84 11.82% 188.44 134.14 42670 8010012.4
NYSE LXU LSB Industries, Inc. 10.39 8.68 1.71 19.70% 13.85 4.52 28410 295179.9
NYSE MTW Manitowoc Co., Inc. 5.88 6.16 -0.28 -4.55% 7.57 3.65 140540 826375.2
NYSE MLI Mueller Industries, Inc. 30.46 29.67 0.79 2.66% 43.96 27.72 57600 1754496
NYSE NWL Newell Rubbermaid, Inc. 54.59 53.00 1.59 3.00% 55.45 43.43 483100 26372429
OTC NSANY Nissan Motor Co. Ltd. 19.49 19.28 0.21 1.09% 20.76 17.67 3910000 76205900
NASD OFLX OmegaFlex, Inc. 63.25 59.49 3.76 6.32% 66.37 34.00 10090 638192.5
NYSE PH Parker-Hannifin Corp. 159.36 156.53 2.83 1.81% 166.60 99.10 133180 21223564.8
NYSE RBC Regal-Beloit Corp. 81.55 78.00 3.55 4.55% 83.65 51.57 44810 3654255.5
NYSE ROK Rockwell Automation 161.60 158.02 3.58 2.27% 165.00 107.17 128840 20820544
OTC SIEGY Siemens Aktiengesellschaft  70.30 71.32 -1.02 -1.43% 73.42 47.72 1620000 113886000
NYSE SPXC SPX Corp.  24.88 27.63 -2.75 -9.95% 28.93 14.00 42390 1054663.2
NYSE TXN Texas Instruments 80.08 81.55 -1.47 -1.80% 84.65 58.61 996320 79785305.6
NYSE UTX United Technologies Corp. 120.75 120.92 -0.17 -0.14% 122.85 96.89 801230 96748522.5
NYSE WSO Watsco, Inc. 149.96 139.58 10.38 7.44% 159.55 128.60 27500 4123900

 

 
Price 6/15/17
Price 5/15/17
Net Change
Percent Change
HVACR Business Stock Index 1,494.51 1,480.93 13.58 0.92%
Dow Jones Industrial Average 21,359.90 20,981.94 377.96 1.80%
S&P 500 Index 2,432.46 2,402.32 30.14 1.25%
NASDAQ Composite 6,165.50 6,149.67 15.83 0.26%

 

Gainers/Losers
$ Gainer Lennox International Inc. 19.84
$ Loser SPX Corp. -2.75
 
% Gainer LSB Industries, Inc. 19.70%
% Loser Echelon Corp. -12.46%
 
Advancers 23
Decliners 8

 

 

The HVACR Business Stock Index inched ahead 13.58 points, or 0.92 percent, and closed at 1494.51. Advancing issues topped declining issues by a 23-to-8 count.

Lennox got a boost from last month’s first quarter income post that exceeded expectations, and the company this month increased its dividend by 19 percent. LII said it will increase its dividend to $0.51 per share, from $0.43 per share.

The dividend will be payable July 17 to shareholders of record as of June 30. Lennox soared 19.84 points, or 11.82 percent, and closed at 187.72. Lennox was the top percentage gainer.

SPX Corp fell 2.75 points, or 9.95 percent, despite an upgrade. ValuEngine increased its rating to “buy” from “hold.” SPXC ended at 24.88, and was the top dollar loser.

LSB Industries rose 1.71 points, or 19.70 percent. LXU received a couple of upgrades: Zacks boosted their rating to “buy” from “hold.” Their price target is $12. ValuEngine upped its rating to “sell” from “strong sell.” LXU ended at 10.39, and was the top percentage gainer.

 

 




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.

 

 




Articles by Margot Crabtree

Market Turbulence Dominates Session

The HVACR Business Stock Index lost 90.83 points, or 6.38 percent, and ended at 1332.91, its lowest close in over two years. Declining issues dominated advancing issues by a 9-to-1 margin.
View article.

 

Stock Index Recovers from Last Month’s Swoon

The HVACR Business Stock Index inched down 3.01 points, or 0.21 percent, closing at 1423.73; the largest four companies in the index ended in negative terrain. However, advancing squeezed by declining issues by a 15-to-14 count.
View article.

 

Markets Tumble as Trade Wars Bite

The HVACR Business Stock Index tumbled, shedding 136.55 points, or 8.73 percent and closing at 1426.74, the lowest close since April 2017. Declining issues shut out advancing issues, with all thirty companies posting in negative terrain.
View article.

 

Stocks Push Higher Despite Trade Concerns

The HVACR Business Stock Index rose 52.22 points, or 3.46 percent, and ended at 1563.29. Advancing issues dominated declining issues by a 5-to-1 margin.
View article.

 

Stocks End Mixed on Earnings and Tariff Talk

The HVACR Business Stock Index slid 27.90 points, or 1.81 percent, and closed at 1511.08. However, advancing issues outpaced declining issues at a 17-to-14 count.
View article.