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HVACR Business Index Turns Positive

Originally published: 09.18.17 by Margot Crabtree


Despite on-going threats from North Korea and battering from hurricanes, Wall Street remained upbeat as our trading session ended Sept. 15, 2017.

Stocks began our session wobbling on political concerns, but took heart from second quarter earnings which closed much stronger than analysts expected. The Commerce Department reported that July orders for durable goods fell 6.8 percent, from a sharp gain the month before.

The Conference Board reported that consumer confidence rose to the highest point in more than 16 years, up to 122.9 in August, from 120 in July. The Commerce Department reported that factory orders fell 3.3 percent in July.

As markets swung into the Labor Day holiday, Secretary Mnuchin said that the President plans to implement a plan on tax reform by year’s end. Weather took center stage, but its influence on markets was short-lived, causing a spike in unemployment benefits.

As our session came to a close, the Dow industrials notched record highs and the S&P 500 closed above 2,500 for the first time, even though data was also largely disappointing. Hurricane Harvey damaged industrial output in the U.S., which dropped 0.9 percent in August, the largest decline in eight years, as the weather curtailed output in chemicals, plastics


and oil refining.

The Labor Department reported that claims for unemployment benefits fell 14,000 following a surge the previous week. In a separate report, the department reported that consumer prices rose 0.4 percent in August as housing and gas increased, following a smaller gain in July.

Economists polled by Reuters expected the Consumer Price Index to increase by 0.3 percent in August. Prices are up 1.9 percent from a year ago.

“People are concerned about missing out as the market continues to rally,” said Phil Blancato, head of Ladenburg Thalmann Asset Management. “They think maybe they need to finally jump in. The behavior of the retail investor is more important than ever.”

 

Exchange
Symbol
Company Name
Price
9/15/17
Price
8/15/17
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 32.95 32.73 0.22 0.67% 38.20 27.25 52600 1733170
NYSE ABB ABB Ltd. 24.43 22.85 1.58 6.91% 25.83 20.26 2130000 52035900
NYSE AOS AO Smith Corp. 58.22 54.34 3.88 7.14% 58.27 43.66 146420 8524572.4
NYSE FIX Comfort Systems USA, Inc. 34.60 32.60 2.00 6.13% 39.67 26.65 37120 1284352
NYSE DOV Dover Corp. 89.81 85.13 4.68 5.50% 90.35 65.50 155730 13986111.3
NASD ELON Echelon Corp. 4.69 4.88 -0.19 -3.89% 5.65 4.17 4450 20870.5
NYSE DWDP DowDuPont 69.86 63.41 6.45 10.17% 70.70 51.60 2340000 163472400
NYSE EME EMCOR Group, Inc. 68.00 65.37 2.63 4.02% 73.44 55.10 59180 4024240
NYSE EMR Emerson Electric Co. 62.35 59.41 2.94 4.95% 64.36 49.22 640020 39905247
NYSE FCAU Fiat Chrysler 16.66 12.67 3.99 31.49% 16.77 6.05 1540000 25656400
NYSE F Ford Motor Co. 11.62 10.84 0.78 7.20% 13.27 10.47 3900000 45318000
NYSE GM General Motors Co. 38.88 35.54 3.34 9.40% 39.18 30.21 1450000 56376000
NYSE HON Honeywell International, Inc. 138.95 137.42 1.53 1.11% 140.21 105.25 760570 105681201.5
NASD HDSN Hudson Technologies, Inc. 9.16 8.73 0.43 4.93% 10.40 5.55 41640 381422.4
NYSE IR Ingersoll-Rand Plc 89.44 86.20 3.24 3.76% 94.39 62.97 253670 22688244.8
NYSE JCI Johnson Controls, Inc. 39.81 37.83 1.98 5.23% 46.86 36.74 932400 37118844
NYSE LII Lennox International Inc. 167.53 167.92 -0.39 -0.23% 192.58 140.97 42180 7066415.4
NYSE LXU LSB Industries, Inc. 6.99 6.38 0.61 9.56% 11.71 4.52 28410 198585.9
NYSE MTW Manitowoc Co., Inc. 7.79 7.96 -0.17 -2.14% 8.43 3.65 140610 1095351.9
NYSE MLI Mueller Industries, Inc. 32.25 29.38 2.87 9.77% 43.96 27.72 57630 1858567.5
NYSE NWL Newell Rubbermaid, Inc. 43.20 50.21 -7.01 -13.96% 55.08 42.81 490100 21172320
OTC NSANY Nissan Motor Co. Ltd. 20.55 19.97 0.58 2.90% 20.76 18.06 3910000 80350500
NASD OFLX OmegaFlex, Inc. 66.14 58.87 7.27 12.35% 70.80 34.62 10090 667352.6
NYSE PH Parker-Hannifin Corp. 169.69 158.19 11.50 7.27% 170.67 118.77 133130 22590829.7
NYSE RBC Regal-Beloit Corp. 77.05 78.55 -1.50 -1.91% 87.50 56.45 44600 3436430
NYSE ROK Rockwell Automation 173.73 164.12 9.61 5.86% 174.18 113.27 128360 22299982.8
OTC SIEGY Siemens Aktiengesellschaft  69.72 64.66 5.06 7.83% 73.42 55.72 812830 56670507.6
NYSE SPXC SPX Corp.  26.32 25.30 1.02 4.03% 29.25 15.49 42520 1119126.4
NYSE TXN Texas Instruments 84.84 81.96 2.88 3.51% 85.03 66.80 990040 83994993.6
NYSE UTX United Technologies Corp. 113.08 115.96 -2.88 -2.48% 124.79 97.62 798770 90324911.6
NYSE WSO Watsco, Inc. 155.00 147.85 7.15 4.84% 159.55 128.60 27480 4259400

 

 
Price 9/15/17
Price 8/15/17
Net Change
Percent Change
HVACR Business Stock Index 1,516.98 1,460.45 56.53 3.87%
Dow Jones Industrial Average 22,268.34 21,998.99 269.35 1.22%
S&P 500 Index 2,500.23 2,464.61 35.62 1.45%
NASDAQ Composite 6,448.47 6,333.01 115.46 1.82%

 

Gainers/Losers
$ Gainer Parker-Hannifin Corp. 11.50
$ Loser Newell Rubbermaid, Inc. -7.01
 
% Gainer Fiat Chrysler 31.49%
% Loser Newell Rubbermaid, Inc. -13.96%
 
Advancers 25
Decliners 6

 

The HVACR Business Stock Index rose 56.53 points, or 3.87 percent, and closed at 1516.98. Advancing issues dominated declining issues at a 25-to-6 count.

Parker-Hannifin was our top dollar gainer. PH unit Parker Aerospace announced that it is collaborating with Oxsensis, Ltd to develop an aerospace sensor that will enhance engine performance. PH jumped 11.50 points, or 11.27 percent, and closed at 169.69.

Newell Brands tumbled 7.01 points, or 13.96 percent and closed at 43.20. NWL revised its earnings outlook, citing cost inflation, higher investment spending, and the impact of Hurricane Harvey. Resin supply, which is part of many Newell products, is produced in Texas and Louisiana; production has been shut down due to the weather. Jefferies cut its rating to “hold” from “buy.” Newell was the top dollar and percentage loser.

FiatChrysler rose 3.99 points, or 31.49 percent as rumors persisted about possible deals. The company will separate its car parts business but said other transactions are not in the works.

Research firms Jefferies and Goldman Sachs reiterated their “buy” ratings, and upped their price targets. Bank of America/Merrill upgraded FCAU to “neutral” from “underperform.” Barclays upgraded the stock to “overweight” from “equal weight.” FCAU ended at 16.66, 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

HVACR Business Index Turns Positive

The HVACR Business Stock Index rose 56.53 points, or 3.87 percent, and closed at 1516.98. Advancing issues dominated declining issues at a 25-to-6 count.
View article.

 

Choppy Session with Highs, Tumbles and Boredom

The HVACR Business Stock Index fell 64.62 points, or 4.24 percent, and closed at 1460.45. Declining issues overpowered advancing issues at a 26-to-5 count.
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Oil Pressures Markets; Wall Street Ends in Records

The HVACR Business Stock Index posted a solid upswing, adding 30.55 points, or 2.04 percent, to end at 1525.06, a record in six out of seven months this year.
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Despite Wrinkles, Markets Continue Bullish Dominance

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.
View article.

 

HVACR Index Roars Ahead

The HVACR Business Stock Index jumped 77.22 points, or 5.50 percent, to 1480.93, another record. Advancing issues dominated declining issues by a 29-to-2 count.
View article.