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Rover's Weekly Market Brief
Rover

Indices

DJIA: 20,597.40 (-1.52%)

NASDAQ: 5,828.74 (-1.22%)

S&P 500: 2,344.08 (-1.44%)

Commodities

Gold: 1,247.40 (+1.40%)

Copper: 264.00 (-1.91%)

Crude Oil: 48.04 (-1.52%)

Economy

Tight inventory contributed to a 3.7% M/M drop in existing home sales in February after January’s 10-year record high. Compared to February 2016, sales were up by 5.4% Y/Y, and prices were up 7.7%, but inventory had declined by 6.4%. Sales of single family homes dropped by 3.0% M/M, but were up 5.8% Y/Y, and sales of condos dropped sharply 9.2% M/M, with a minor 1.7% Y/Y gain.


New home sales, which constitute about 10% of the home sales market, were at a nine year high in 2016, and the first two months on 2017 continued that trend. February sales were up 6.1% M/M, and 12.8% Y/Y, with prices down 3.9% M/M and 4.9% Y/Y. New home supplies were up by 1.5%, but increasing demand brought supply down from 5.6 months to 5.4 months.


Orders for new non-defense aircraft drove February’s 1.7% increase in durable goods orders, and January’s orders were substantially revised upwards from 1.8% to 2.3%. However, core capital goods orders, which exclude aircraft and defense orders and are a better index for business investment plans, decreased by 0.1% in February, with January’s rate revised upwards from -0.4% to 0.1%. Compared to the same period in 2016, the year to date increase in durable goods orders is up 1.6%, and core capital goods orders are up 1.3%.

Upcoming Events:

Thurs March 30 — GDP

Fri March 31 — Personal Income and Outlays

Earnings Calendar

Mon
GRFS
RHT
Tues
INFO
DRI
Wed
BAMXF
PAYX
Thurs
HNNMY
DVMT
Fri
BBRY
MTBC
 
 

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Ideas Theme: Efficiency

 

Log on to Stock Rover Markets for this week's dose of investment inspiration. With the theme of Capital & Operational Efficiency, see screener “Operational Outperformers” and the S&P 500 stocks with the highest ROA.

Efficiency Ideas

Quality at a Reasonable Price

 

With the market so expensive right now, good deals are hard to come by. We decided to see what reputable companies haven't succumbed to the heady market valuations. Take a look at our watchlist of 9 inexpensive picks we think warrant a closer look.

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Wishing you a productive week,

The Stock Rover Team

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