Subject: Weekly Market Brief

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Rover's Weekly Market Brief
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Indices

DJIA: 26,616.70 (+2.09%)

NASDAQ: 7,506.00 (+2.31%)

S&P 500: 2,873.00 (+2.23%)

Commodities

Gold: 1,354.30 (+1.59%)

Copper: 321.65 (+0.91%)

Crude Oil: 66.20 (+4.47%)

Economy

The advance estimate of 2017 Q4 GDP was an annualized 2.6% rate, down from Q3’s 3.2% rate and widely missing analyst’s projections for 3.0%. On a yearly basis, GDP growth was 2.3% compared to 1.5% for 2016. Positive contributions to GDP in Q4 came from increases in the seasonally adjusted annual rates for consumer spending (+$111.5 billion), business investments (+$38.7 billion), exports (+$37.1 billion), residential investment (+$16.3 billion), and government spending (+$21.2 billion), but they were offset by negative contributions from decreases in inventory (-$29.3 billion) and increases for imports (+$92.1 billion). An increase in disposable personal income (+3.9% Q4 vs 2.1% Q3) and a drop in the personal savings rate (2.6% Q4 vs 3.3% Q3) increased available consumer cash, but an increase in the Personal Consumption Expenditure (PCE) inflation rate to +2.8% indicated rising prices.

 

The trade deficit in goods increased by +2.3% in December to $71.6 billion with a $5.2 billion increase in imports to $209.2 billion outpacing a $3.6 billion increase in exports to $137.6 billion. Exports increased for military goods (+10.1%), foods (+3.9%), capital goods (+2.7%), consumer goods (+2.7%) and industrial supplies (including petroleum products) (+2.6%), but dropped for automobiles (-0.6%). Imports increased for consumer goods (+6.0%), automobiles (+3.4%), and food (+1.9%). On a yearly basis, exports were up +9.2%, with significant increases for industrial supplies (+18.3%), automobiles (+9.4%), and consumer goods (+6.2%), while imports increased +10.4%, with notable increases for capital goods (+13.2%), industrial supplies (+12.5%), consumer goods (+12.2%), and military goods (+10.2%).

 

New orders for durable goods were up +2.9% (+$7.0 billion) in December to $249.4 billion for the second consecutive monthly increase after a +1.7% increase in November. Most of the increase was due to a +7.4% increase in new transportation orders, with a +55.3% increase in military aircraft orders and a +15.9% increase in civilian aircraft orders. Excluding transportation, new orders were up 0.6%, primarily due to a +19.5% increase in defense capital goods with slowdowns for computers (-4.4%) and communications equipment (-3.2%) taking away from those gains. Core capital goods, which exclude both transportation and defense, dropped -0.3%, but November’s -0.1% drop was revised upward to a +0.2% gain.

Upcoming Events:

Monday January 29 - Personal Income and Outlays

Friday February 2 - Employment Situation

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Top Growth Stocks

 

This week we feature screeners for the S&P 500 Fastest Growers, Tech Growth and Staples Growth. A low P/E is included in the weighted criteria to find growth stocks that are not overly expensive. These screeners can be easily updated for any sector you want to screen.

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

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The Stock Rover Team

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