Weekly Market Snapshot1

News Last Week

  • Deere & Co., maker of John Deere equipment, announced much-better-than-expected earnings and expense cutting plans. Shares of the company rose 13% on Friday after the news. The cost-cutting measures are in reaction to weak global farm economy. J.P. Morgan forecasts that farmers’ cash receipts from major crops this growing season will be down 9% from the previous growing season.
  • According to FactSet, dividend payments from companies in the S&P 500 over the past twelve months reached close to 38% of net income. This is the highest level since February 2009. About 9% of the companies in the S&P 500 paid out more in dividends than their entire net annual income. Some analysts believe the dividend level of many of these companies is unsustainable.
  • Uber and Lyft pulled their services out of Austin, TX as a result of a city regulation requiring all taxi drivers to be fingerprinted.
View More View Less
  • Uber will begin testing driverless cars in Pittsburgh in the coming weeks. While the cars will be autonomous each will have two Uber employees, one at the wheel, to observe and take control if necessary.
  • Wal-Mart posted strong second-quarter financial results. Sales in their established stores increased for the eighth consecutive quarter.
  • Home Depot reported that sales in their established stores had increased 4.7% in the latest quarter.
  • Cisco is cutting 5,500 jobs, about 7% of its workforce. The eliminations are part of cost-cutting efforts, but also to allow the company to hire new workers with new skills.
  • Target reported that as of last quarter sales from stores open at least one year fell 1.1% year-over-year
View Full Report

News Next Week

  • Tuesday: New Home Sales for July will be reported at 10:00am (all times Eastern)
  • Wednesday: Existing Home Sales for July will be reported at 10:00am
  • Thursday: Durable Goods Orders for July will be reported at 8:30am
View More View Less
  • Friday: U.S. GDP for the second quarter will be reported at 8:30am
  • Friday: International Trade in Goods for July will be reported at 8:30am

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.