Weekly Market Snapshot

News Last Week

  • Tuesday Home Depot reported second-quarter earnings and sales that were higher-than-expected. The company also raised its full-year outlook.
  • Wednesday saw Macy’s Inc. shares plunge on disappointing same-store sales, despite reporting better-than-expected profit, and raising its fiscal 2018 guidance.
  • Wednesday also saw other retailers tumble. JC Penney, Dillard’s Inc., Nordstrom Inc., and Kohl’s Corp fell between 6% and 11% during morning trade.
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  • Oil prices dropped sharply Wednesday in response to a report that revealed a surprise increase in domestic stockpiles last week.
  • JC Penney shares were down 26% Thursday morning on news of an earnings miss and lowered guidance. Also Thursday, Walmart shares rose over 9% after releasing earnings that topped expectations.
  • Thursday after the bell, Nordstrom reported better-than-expected sales and earnings, also raising its earnings outlook. Shares rose by more than 13% on the day.
  • Thursday Nvidia stock fell by 6% after reporting better-than-expected earnings and lower-than-expected guidance. The company had announced its new generation of graphics cards earlier in the week.
  • Tuesday: The NFIB Small Business Index for July rose 0.7 points to 107.9, the second-highest in history.
  • Wednesday: Retail Sales for July rose 0.5%, much higher-than-expected.
  • Wednesday: Industrial Production for July rose a lower-than-expected 0.1%.
  • Thursday: Housing Starts for July were lower-than-expected at 1.168 million.
  • Thursday: The Philly Fed Index for August came in at 11.9, lower-than-expected.
  • Friday: Consumer Sentiment for August was 95.3, lower-than-expected.

News Next Week

  • Wednesday: FOMC Minutes 7/31-8/1 at 2.00pm.
  • Thursday: Markit Manufacturing PMI (flash) for August at 9.45am.
  • Thursday: Markit Services PMI (flash) for August at 9.45am.
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  • Thursday: New Home Sales for July at 10.00am.
  • Friday: Durable Goods Orders for July at 8.30am.

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08/14/2018

Consumers drive the thesis of emerging market performance

The true potential in emerging market economies occurs when a population moves from low income to the early-stages of middle class. It’s why LGM...

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