Dow fell 68, decliners slightly ahead of advancers & NAZ added 41. The MLP index retreated 2 to the 248s & the REIT index was off 2+ to 362. Junk bond funds crawled higher & Treasuries drifted lower in price. Oil dropped 1+ to the 53s & gold pulled back 4 to 1318 following recent strength.
AMJ (Alerian MLP Index tracking fund
Stocks little changed to start the week
The Pentagon announced a deployment of about 4K troops to the US border with Mexico, as Pres Trump continues to press the need for stronger border security amid a surge in migrants from Central America. The additional troops will bring the total number of forces supporting the border mission to approximately 4350. The troop deployment, which was approved by Acting Secretary of Defense Patrick Shanahan on Jan 11, will last for 90 days. The border mission includes mobile surveillance capability as well as the emplacement of approximately 150 miles of concertina wire between ports of entry. The Pentagon first approved the deployment of active-duty troops to the Mexico border in Oct, on the heels of the midterm congressional elections. Trump made the caravan of approximately 3500 Central American migrants seeking asylum as one of his prime targets ahead of midterm elections. The movement of Ks of active-duty troops to the border has been criticized as a political stunt designed to back Trump's campaign promise of securing ports of entry. At the time, Secretary of Defense James Mattis downplayed that criticism, saying that the Pentagon is providing "practical support based on the request from the commissioner of customs and border police. We don't do stunts in this department," he added. The latest revelation comes on the heels of a partial gov shutdown stemming from the impasse over Trump's demand for $5.7B to construct a border wall. Yesterday Trump said that shutting down the federal gov again & declaring a national emergency are options he's considering when addressing the border security issue. "It's national emergency, it's other things and you know there have been plenty national emergencies called. And this really is an invasion of our country by human traffickers," Trump said. "We're going to have a strong border. And the only way you have a strong border is you need a physical barrier. You need a wall. And anybody that says you don't, they're just playing games," he added.
The Pentagon says it will deploy another 3,750 troops to the Mexican border
Clorox shares (CLX), a Dividend Aristocrat, jumped after it reported fiscal Q2 profits that topped expectations & reaffirmed its 2019 outlook. The consumer goods maker posted adjusted EPS of $1.40, beating projections of $1.30. It posted 4% sales growth in its Q2, bringing revenues for the 3 months ended on Dec 31 to $1.47B. "Sound execution of our pricing and cost-savings plans has enabled us to address near-term headwinds, resulting in another strong quarter of topline performance," said CEO Benno Dorer. "Importantly, we remain on track for sales and earnings in fiscal year 2019." The company said that it anticipates sales growth for fiscal 2019 of 2-4%, driven by innovation that management expects to deliver about 3 percentage points of incremental sales. It expects fiscal years 2019 diluted EPS of $6.20-6.40. However, CLX also said it expects tariffs to hurt its EPS by 5-7¢ in 2019. The stock shot up 10.60 (7%).
club.ino.com/trend/analysis/stock/CLX?a_aid=CD3289&a_bid=6ae5b6f
Clorox shares jump 5% after earnings top expectations
Factory orders in the US fell more sharply than expected in Nov, adding to a litany of reports showing a slowdown in growth in the industrial segment of the economy toward the end of 2018. A key measure of business investment also declined. The forecast called for a 0.2% decline, largely because of lower oil prices. The report had been delayed by the 35-day partial gov shutdown One bright spot: Orders for durable goods rose a slightly revised 0.7%, the gov said. These are products such as appliances and computers meant to last at least three years. Falling oil prices caused a big drop in the value of energy production at refineries, helping to explain the decline in factory orders in November. Orders also fell for machinery, military hardware & autos & trucks. Orders rose for primary metals, fabricated metals, computers & commercial aircraft. A closely followed gauge of business investment, known as core orders for durable goods, declined by 0.6% in Nov. It was the 3rd drop in 4 months, suggesting companies were more hesitant to invest. The ongoing trade spat with China has been a major source of uncertainty & worries about a recession were especially pronounced during a market slump near year end. Although manufacturers expanded more slowly late last year, they still reported rising sales &and continued to hire. 2 strong US employment reports in Dec & Jan point to stable economic growth despite increasing “crosscurrents” faced by the economy.
Not much to do for investors while they wait for earnings reports. Tech shares are doing well (i.e. NAZ) on hopes for good reports beginning with Google (GOOGL) tonight. Gold remains in demand by investors who have negative thoughts about where the economy is going.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund
| CL=F | Crude Oil | 54.27 | -0.99 | -1.8% |
| GC=F | Gold | 1,315.40 | -6.70 | -0.5% |
Stocks traded little changed to start a week that will include earnings from 96 companies in the S&P 500. Markets in China are closed for the week for the Lunar New Year celebration. Hong Kong's Hang Seng was open & closed up 0.2% & Japan's Nikkei gained 0.5%. In Europe, London's FTSE added 0.2%, Germany's DAX slipped 0.3% & France's CAC fell 0.6%.
Stocks little changed to start the week
The Pentagon announced a deployment of about 4K troops to the US border with Mexico, as Pres Trump continues to press the need for stronger border security amid a surge in migrants from Central America. The additional troops will bring the total number of forces supporting the border mission to approximately 4350. The troop deployment, which was approved by Acting Secretary of Defense Patrick Shanahan on Jan 11, will last for 90 days. The border mission includes mobile surveillance capability as well as the emplacement of approximately 150 miles of concertina wire between ports of entry. The Pentagon first approved the deployment of active-duty troops to the Mexico border in Oct, on the heels of the midterm congressional elections. Trump made the caravan of approximately 3500 Central American migrants seeking asylum as one of his prime targets ahead of midterm elections. The movement of Ks of active-duty troops to the border has been criticized as a political stunt designed to back Trump's campaign promise of securing ports of entry. At the time, Secretary of Defense James Mattis downplayed that criticism, saying that the Pentagon is providing "practical support based on the request from the commissioner of customs and border police. We don't do stunts in this department," he added. The latest revelation comes on the heels of a partial gov shutdown stemming from the impasse over Trump's demand for $5.7B to construct a border wall. Yesterday Trump said that shutting down the federal gov again & declaring a national emergency are options he's considering when addressing the border security issue. "It's national emergency, it's other things and you know there have been plenty national emergencies called. And this really is an invasion of our country by human traffickers," Trump said. "We're going to have a strong border. And the only way you have a strong border is you need a physical barrier. You need a wall. And anybody that says you don't, they're just playing games," he added.
The Pentagon says it will deploy another 3,750 troops to the Mexican border
Clorox shares (CLX), a Dividend Aristocrat, jumped after it reported fiscal Q2 profits that topped expectations & reaffirmed its 2019 outlook. The consumer goods maker posted adjusted EPS of $1.40, beating projections of $1.30. It posted 4% sales growth in its Q2, bringing revenues for the 3 months ended on Dec 31 to $1.47B. "Sound execution of our pricing and cost-savings plans has enabled us to address near-term headwinds, resulting in another strong quarter of topline performance," said CEO Benno Dorer. "Importantly, we remain on track for sales and earnings in fiscal year 2019." The company said that it anticipates sales growth for fiscal 2019 of 2-4%, driven by innovation that management expects to deliver about 3 percentage points of incremental sales. It expects fiscal years 2019 diluted EPS of $6.20-6.40. However, CLX also said it expects tariffs to hurt its EPS by 5-7¢ in 2019. The stock shot up 10.60 (7%).
club.ino.com/trend/analysis/stock/CLX?a_aid=CD3289&a_bid=6ae5b6f
Clorox shares jump 5% after earnings top expectations
Factory orders in the US fell more sharply than expected in Nov, adding to a litany of reports showing a slowdown in growth in the industrial segment of the economy toward the end of 2018. A key measure of business investment also declined. The forecast called for a 0.2% decline, largely because of lower oil prices. The report had been delayed by the 35-day partial gov shutdown One bright spot: Orders for durable goods rose a slightly revised 0.7%, the gov said. These are products such as appliances and computers meant to last at least three years. Falling oil prices caused a big drop in the value of energy production at refineries, helping to explain the decline in factory orders in November. Orders also fell for machinery, military hardware & autos & trucks. Orders rose for primary metals, fabricated metals, computers & commercial aircraft. A closely followed gauge of business investment, known as core orders for durable goods, declined by 0.6% in Nov. It was the 3rd drop in 4 months, suggesting companies were more hesitant to invest. The ongoing trade spat with China has been a major source of uncertainty & worries about a recession were especially pronounced during a market slump near year end. Although manufacturers expanded more slowly late last year, they still reported rising sales &and continued to hire. 2 strong US employment reports in Dec & Jan point to stable economic growth despite increasing “crosscurrents” faced by the economy.
Delayed U.S. factory orders report adds to evidence showing slowdown late last year
Not much to do for investors while they wait for earnings reports. Tech shares are doing well (i.e. NAZ) on hopes for good reports beginning with Google (GOOGL) tonight. Gold remains in demand by investors who have negative thoughts about where the economy is going.
Dow Jones Industrials
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