Subject: Weekly Market Brief

Connect to your brokerage account today | View this email in your browser
 
           
 
 
Rover's Weekly Market Brief
Rover

Indices

DJIA: 21,987.60 (+0.80%)

NASDAQ: 6,435.33 (+2.71%)

S&P 500: 2,476.55 (+1.37%)

Commodities

Gold: 1,330.90 (+2.81%)

Copper: 312.10 (+2.88%)

Crude Oil: 47.30 (-1.19%)

Economy

The second estimate of 2017 Q2 GDP was revised upward to a 3.0% annual rate from its initial 2.6% estimate. The revision was based on increased estimates for personal consumption expenditure (+3.3%) and nonresidential fixed investments (+0.6%), which were partially offset by larger decreases in state and local government spending (-1.7%). Consumer spending was up for automobiles, clothing and footwear, and housing, but dropped for health care, recreation services, and restaurants. Annual corporate pre-tax profits increased +$26.8B for Q2 after a -$46.2B decrease in Q1.

 

Personal income rose +0.4% in July after a flat June, and the savings rate fell by -0.1% to 3.5%, providing the cash to push July’s Personal Consumption Expenditure (PCE) spending up to +0.3% following an upwardly revised +0.2% for June. Food services and accommodations were the largest components in a +0.2% increase in service spending, and furnishings, durable household equipment and automotives contributed to a +0.6% increase in spending on goods. The core PCE price index, which excludes food and energy and is the Federal Reserve’s preferred measure of inflation, only increased +0.1% for the month, dropping the yearly rate by -0.1% to +1.4%, well below the Fed’s 2% target rate.

 

The unemployment rate ticked up +0.1% to 4.4% as a less than expected 156,000 jobs were added in August, and previous month’s new jobs figures were revised downward, with July down -20,000 jobs to 189,000 and June down -21,000 to 210,000, bringing the average number of new jobs over the last 3 months to 185,000. Jobs were added in manufacturing (+36,000), construction (+28,000), professional and technical services (+22,000), healthcare (+20,000) and mining (+7,000), with other employment sectors showing little change. The average workweek dropped -0.1 hours to 34.4 hours, and average hourly earnings were up +0.1% for the month and +2.5% for the year.

Upcoming Events:

Tuesday September 5 — Factory Orders

Wednesday September 6 — International Trade

Earnings Calendar

Mon
CSUAY
EBKDY
Tues
WMMVY
HPE
Wed
ASHTY
HDS
Thurs
PDRDY
DVMT
Fri
KEP
KR
 
 

Finding Stocks in September

 

Historically, September is a difficult month for the Stock Market. This week we're featuring our technical screeners to help you find stocks with the momentum to get past the challenges this month brings with it.

You can download any of our featured screeners directly into your account by clicking the “Add to Account” link.

Go to Ideas

Seamless Portfolio Tracking

 

To get the most out of Stock Rover’s portfolio tracking and analytics, link your SR account to your brokerage house. This free perk only takes a few minutes to set up and will keep your portfolios securely and effortlessly up to date from here on out. Log in and get it done today!

How to Sync
 
All Recent SR News
 

 
 

 

Thank you, as always, for being a Stock Rover member.

Wishing you a productive week,

The Stock Rover Team

www.stockrover.com

SR Markets Investing Ideas
Our Blog Getting Started
Link Your Brokerage Premium Free Trial

 

Change your email preferences