Dow lost 11 (at seson lows), advancers over decliners 5-4 & NAZ gained 25. The MLP index added 2 to 248 & the REIT index dropped 8+ to the 378s. Junk bond funds crawled higher & Treasuries continued weak. Oil went up 1+ to the 59s on tensions with Iran & gold fell 4 to 1414 on profit taking.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2180338269244485)
club.ino.com/trend/analysis/stock/GIS?a_aid=CD3289&a_bid=6ae5b6f7
Cheerios maker General Mills stock tumbles after sales disappoint
Home Depot (HD), a Dow stock, CEO Craig Menear said the company aims to minimize the impact that potential tariffs will have on prices by cutting costs elsewhere along its supply chain. The company makes 70% of its goods domestically, which also lessens the effect, Menear said' “Some of it has to get passed through,” he said, but added that it was too early to know exactly where the impact would land. “There’s always ways — when you look at the entire value chain between the supplier all the way through our operations — ... to be able to offset these costs,” he continued. In May, HD said it expected adjusted 2020 EPS to rise 3.1% to $10.03, with a 5% increase in same-store sales & a 3.3% increase in revenue. For Q2, analysts estimate EPS of $3.09 on $31B in revenue. Menear also said the recent drop in the price of lumber continues to put pressure on the home improvement retailer, but that demand has picked up with the improving summer weather. He added that the company's professional contractors are busy & booked whenever he calls the stores. Consumers are also spending more on remodeling & home maintenance as the nation's housing supply ages, he said, adding that 52% of the housing stock in the US is 40 years or older. “We are looking forward to a great finish to the year,” he said. The stock went up 1.73.
If you would like to learn more about HD, click on this link:
club.ino.com/trend/analysis/stock/HD?a_aid=CD3289&a_bid=6ae5b6f7
Home Depot CEO says company hopes to cut costs to reduce impact o…
The Senate passed an emergency border aid plan, setting up a rush to reconcile it with a separate House bill amid anger over the Trump administration's treatment of migrant children. The GOP-controlled chamber approved a measure to send $4.6B to support US operations at the southern border. Last night, the Dem-held House passed its own plan to appropriate $4.5B — including standards for caring for children at US migrant detention facilities. Now, the 2 chambers will try to reconcile their plans. Earlier today, the Senate voted down the House-passed version of the bill by a 55-37 margin. House Speaker Nancy Pelosi also said she would not take up the Senate-approved plan, telling reporters “there are some improvements that we think can be reconciled.” Pelosi spoke to Trump today about how Dems & Reps could craft a joint proposal. She suggested 4 unspecified changes to the Senate measure, Senate Minority Leader Chuck Schumer said. “We could quickly have a conference, talk about those four changes, try to get them in the bill, finish this quickly and I hope that’s what will happen,” he added. Lawmakers are rushing to pass the funding before they leave tomorrow for a Jul 4 recess as furor grows about the treatment of children in its detention centers.
Senate approves emergency border aid money as Trump faces anger over treatment of migra
Stocks were treading water today, waiting for the big trade talks between the US & China over the weekend. There was profit taking in Treasuries after the recent buying spree & gold settled back slightly, but remains in demand. Tomorrow the BEA will release the 2nd revision for Q1-2019 GDP data. Last month the first revision for Q1 GDP was 3.1%, below the initial data of 3.2%.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Shares of General Mills (GIS) tumbled after the Cheerios maker's quarterly revenue fell
short of estimates as fewer Americans eat its snack foods. Net
sales the North American retail segment, which accounts
for more than ½ of the company's revenue, fell 2% during its
fiscal Q4. It partially attributed the drop to a
decline in its US snacks business, which includes its popular Chex
Mix & Nature Valley granola bars. US retail sales for its meals & baking, yogurt & cereal segments were unchanged from a year ago. The food giant has been trying to adapt to changing consumer tastes as its sales growth has slowed. Revenue
rose 7% during the qtr to $4.16B, thanks to the
acquisition of Blue Buffalo Pet Products. But net sales still fell short of the estimate of $4.24B. The company did top the
estimate on earnings . Adjusted EPS was 83¢, beating expectations of 77¢. The company
expects that organic net sales in fiscal 2020 will increase 1-2% & adjusted
full-year EPS will jump 3-5% from $3.22 in fiscal 2019. “We’ll look to improve our performance
again in fiscal 2020, and we have plans in place to accelerate our
organic sales growth while maintaining our strong margins and cash
discipline,” CEO Jeff Harmening said. The stock dropped 2.39.
If you would like to learn more about GIS, click on this link:club.ino.com/trend/analysis/stock/GIS?a_aid=CD3289&a_bid=6ae5b6f7
Cheerios maker General Mills stock tumbles after sales disappoint
Home Depot (HD), a Dow stock, CEO Craig Menear said the company aims to minimize the impact that potential tariffs will have on prices by cutting costs elsewhere along its supply chain. The company makes 70% of its goods domestically, which also lessens the effect, Menear said' “Some of it has to get passed through,” he said, but added that it was too early to know exactly where the impact would land. “There’s always ways — when you look at the entire value chain between the supplier all the way through our operations — ... to be able to offset these costs,” he continued. In May, HD said it expected adjusted 2020 EPS to rise 3.1% to $10.03, with a 5% increase in same-store sales & a 3.3% increase in revenue. For Q2, analysts estimate EPS of $3.09 on $31B in revenue. Menear also said the recent drop in the price of lumber continues to put pressure on the home improvement retailer, but that demand has picked up with the improving summer weather. He added that the company's professional contractors are busy & booked whenever he calls the stores. Consumers are also spending more on remodeling & home maintenance as the nation's housing supply ages, he said, adding that 52% of the housing stock in the US is 40 years or older. “We are looking forward to a great finish to the year,” he said. The stock went up 1.73.
If you would like to learn more about HD, click on this link:
club.ino.com/trend/analysis/stock/HD?a_aid=CD3289&a_bid=6ae5b6f7
Home Depot CEO says company hopes to cut costs to reduce impact o…
Iran's supreme leader said his country wouldn't back down in the
face of US sanctions, days after Pres Trump targeted him
personally with a new round of measures to further isolate the country. Ayatollah
Ali Khamenei called US pressure “obvious tyranny” &
labeled DC the “most hated, evil gov in the world,”
demonstrating how the US & Iran remain locked in a standoff over
Tehran's nuclear program & American economic sanctions.
Supreme Leader Says Iran Won’t Back Down From U.S.
The Senate passed an emergency border aid plan, setting up a rush to reconcile it with a separate House bill amid anger over the Trump administration's treatment of migrant children. The GOP-controlled chamber approved a measure to send $4.6B to support US operations at the southern border. Last night, the Dem-held House passed its own plan to appropriate $4.5B — including standards for caring for children at US migrant detention facilities. Now, the 2 chambers will try to reconcile their plans. Earlier today, the Senate voted down the House-passed version of the bill by a 55-37 margin. House Speaker Nancy Pelosi also said she would not take up the Senate-approved plan, telling reporters “there are some improvements that we think can be reconciled.” Pelosi spoke to Trump today about how Dems & Reps could craft a joint proposal. She suggested 4 unspecified changes to the Senate measure, Senate Minority Leader Chuck Schumer said. “We could quickly have a conference, talk about those four changes, try to get them in the bill, finish this quickly and I hope that’s what will happen,” he added. Lawmakers are rushing to pass the funding before they leave tomorrow for a Jul 4 recess as furor grows about the treatment of children in its detention centers.
Senate approves emergency border aid money as Trump faces anger over treatment of migra
Stocks were treading water today, waiting for the big trade talks between the US & China over the weekend. There was profit taking in Treasuries after the recent buying spree & gold settled back slightly, but remains in demand. Tomorrow the BEA will release the 2nd revision for Q1-2019 GDP data. Last month the first revision for Q1 GDP was 3.1%, below the initial data of 3.2%.
Dow Jones Industrials
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