Dow jumped 145, advancers over decliners about 3-1 & NAZ shot up 105. The MLP index was off 1+ to the 255s & the REIT index jumped 5+ to the 373s. Junk bond funds edged higher & Treasuries were also purchased today. Oil rose to the 66s & gold lost 4 to 1273 (more on both below).
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2180338269244485)
Procter & Gamble (PG), a Dow stock & Dividend Aristocrat, reported quarterly earnings & revenue that beat expectations, as strong consumers continue to pay up for its products following price increases earlier this year. “In our categories, we see generally good health and strong consumption,” CFO Jon Moeller said. Despite concerns of a potential economic slowdown, P&G continues to see strong growth in China & the US, Moeller added. Excluding items, EPS was $1.06, beating the $1.03 estimate. Net sales rose 1% to $16.46B, topping expectations for $16.37B. “This is third quarter in a row of very strong volume, sales, consumption and market share growth being driven by a strategy of superiority,” Moeller said. Its strongest business units continue to be its beauty care business, which includes its premium SK-II skin-care brand & Olay. Fabric along with home care & health care, which includes Crest toothpaste, also performed well. Its grooming business, including the Gillette brand, continued to lag, although its sales declines moderated from the prior qtr. Organic sales in its grooming business dropped 1%, compared with a 3% decline in fiscal Q2. The company said sales of shaving care products were in line with the year-earlier period, but benefited from higher sales in more developed areas & price increases, which helped offset unit volume declines. Unit volume factors cut the impact of price & currency fluctuations. PG, whose products also include Tide detergent, now expects its 2019 organic sales to grow 4%, rather than 2% to 4% previously guided. Total sales are expected to be flat to up 1% over 2018. The stock fell 2.85.
If you would like to learn more about PG, click on this link:
club.ino.com/trend/analysis/stock/PG?a_aid=CD3289&a_bid=6ae5b6f
P&G says strong consumers are paying more for products, fueling earnings beat and higher guidance
Lockheed Martin delivered Q1 earnings that were far above expectations. The world's largest defense contractor also updated its forecast for 2019 financial results, with EPS guided at $20.05-20.35 – up from $19.15-19.45 share. Expected full year revenue was also increased, at $56.8- 58.3B — up from $55.8-57.3B. EPS was $5.99, an increase of 49% over last year & topping the $4.34 expected. Revenue was $14.3B vs $12.6B forecast. The company added language regarding “government actions to prevent the sale or delivery of the corporation’s products” to its list of factors that may affect any forward-looking statements. It said government actions include delays from Congress on export approvals for Saudi Arabia, the United Arab Emirates & Turkey. The contractor also said trade policies or sanctions could impact business as well as the Pentagon's recent decision to suspend sales of F-35 aircraft to Turkey. Earlier this month, the US halted delivery of 2 F-35 fighter jets to Turkey to deter Ankara from following thru with a multibillion-dollar deal to buy a Russian missile system. As it stands, Turkey faces removal from Lockheed's F-35 program, forfeiture of 100 promised F-35 jets, cancellation of a Patriot missile defense deal & the imposition of US sanctions as well as potential blowback from NATO members if the deal with Russia for the S-400 missile system is completed. The F-35, Lockheed Martin's largest program, is financed & manufactured in part by Turkey. If the NATO ally is kicked out of the F-35 group, Lockheed would need to replace Turkey's manufacturing of the F-35's fuselage & landing gear. Additionally, the 100 F-35 jets Turkey hoped to add to its budding arsenal will be shuffled in the company's intricate production schedule to ensure that the defense giant's assembly line will hum along without skipping a beat. The stock soared 17.84 (6%).
If you would like to learn more about LMT, click on this link:
club.ino.com/trend/analysis/stock/LMT?a_aid=CD3289&a_bid=6ae5b6f
Lockheed Martin jumps 5% after earnings top expectations and it raises 2019 forecast
Oil climbed for a 3rd straight session to mark another fresh high for the year, as traders reacted to tougher action against Iran's oil market from the US. West Texas Intermediate crude for Jun delivery, on its first full session as a front-month contract, added 75¢ (1.1%) to settle at $66.30. Jun Brent crude, the global benchmark, tacked on 47¢ (0.6%) at $74.51 a barrel. Both WTI & Brent tallied their highest front-month contract settlements since late Oct. Crude's latest rise extends Mon's rally on the heels the US decision to end waivers for countries importing Iranian oil, as part of a bid by the Trump administration to push Iran's exports to zero. The current waivers expire on May 2. Meanwhile, sanctions on Venezuela have also been contributing to supply jitters recently. Chatter has included speculation that tighter sanctions against Iran & Venezuela could trigger an end to the production-cut agreement among members & some nonmembers OPEC. That deal, in which OPEC & its allies agreed to cut production by 1.2M barrels a day, expires in Jun. Analysts say that deal has been helping to keep prices stable against the backdrop of rising US production.
Gold prices finished lower as one popular measure of the $ teetered near a 2-year high, producing headwinds for bullion. Gold for Jun delivery declined $4.40 (0.3%) to settle at $1273.20 an ounce, with the commodity suffering from the lowest most-active contract settlement since Dec 26. The moves come as the ICE US $ Index, a key gauge of the greenback against six major rivals, was up 0.4% at 97.657. A move above 97.71 would mark its highest since Jun 2017. A stronger US unit can make buying the buck-pegged commodity comparatively more expensive for investors using other currencies. Prices for gold had edged higher yesterday. Gold lost 1.5% for the holiday-shortened stretch last week, with financial markets closed for Good Friday & many markets in Europe closed then & for Easter Monday. Gold, in fact, marked its 4th weekly loss in a row, with a jump in US retail figures providing support for the $ & dulling the appeal of the precious metal. A climb near new records for the S&P 500 index, the Dow & the NAZ also has highlighted growing appetite for assets perceived as risky & away from safe investments.
Earnings reported today largely received a round of applause by investors. The S&P 500 reached a new reocrd & other popular stock averages (i.e. the Dow) are close to setting new records. Next week the Q1 report for GDP will be reported which will get a lot of attention by investors.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Procter & Gamble (PG), a Dow stock & Dividend Aristocrat, reported quarterly earnings & revenue that beat expectations, as strong consumers continue to pay up for its products following price increases earlier this year. “In our categories, we see generally good health and strong consumption,” CFO Jon Moeller said. Despite concerns of a potential economic slowdown, P&G continues to see strong growth in China & the US, Moeller added. Excluding items, EPS was $1.06, beating the $1.03 estimate. Net sales rose 1% to $16.46B, topping expectations for $16.37B. “This is third quarter in a row of very strong volume, sales, consumption and market share growth being driven by a strategy of superiority,” Moeller said. Its strongest business units continue to be its beauty care business, which includes its premium SK-II skin-care brand & Olay. Fabric along with home care & health care, which includes Crest toothpaste, also performed well. Its grooming business, including the Gillette brand, continued to lag, although its sales declines moderated from the prior qtr. Organic sales in its grooming business dropped 1%, compared with a 3% decline in fiscal Q2. The company said sales of shaving care products were in line with the year-earlier period, but benefited from higher sales in more developed areas & price increases, which helped offset unit volume declines. Unit volume factors cut the impact of price & currency fluctuations. PG, whose products also include Tide detergent, now expects its 2019 organic sales to grow 4%, rather than 2% to 4% previously guided. Total sales are expected to be flat to up 1% over 2018. The stock fell 2.85.
If you would like to learn more about PG, click on this link:
club.ino.com/trend/analysis/stock/PG?a_aid=CD3289&a_bid=6ae5b6f
P&G says strong consumers are paying more for products, fueling earnings beat and higher guidance
Lockheed Martin delivered Q1 earnings that were far above expectations. The world's largest defense contractor also updated its forecast for 2019 financial results, with EPS guided at $20.05-20.35 – up from $19.15-19.45 share. Expected full year revenue was also increased, at $56.8- 58.3B — up from $55.8-57.3B. EPS was $5.99, an increase of 49% over last year & topping the $4.34 expected. Revenue was $14.3B vs $12.6B forecast. The company added language regarding “government actions to prevent the sale or delivery of the corporation’s products” to its list of factors that may affect any forward-looking statements. It said government actions include delays from Congress on export approvals for Saudi Arabia, the United Arab Emirates & Turkey. The contractor also said trade policies or sanctions could impact business as well as the Pentagon's recent decision to suspend sales of F-35 aircraft to Turkey. Earlier this month, the US halted delivery of 2 F-35 fighter jets to Turkey to deter Ankara from following thru with a multibillion-dollar deal to buy a Russian missile system. As it stands, Turkey faces removal from Lockheed's F-35 program, forfeiture of 100 promised F-35 jets, cancellation of a Patriot missile defense deal & the imposition of US sanctions as well as potential blowback from NATO members if the deal with Russia for the S-400 missile system is completed. The F-35, Lockheed Martin's largest program, is financed & manufactured in part by Turkey. If the NATO ally is kicked out of the F-35 group, Lockheed would need to replace Turkey's manufacturing of the F-35's fuselage & landing gear. Additionally, the 100 F-35 jets Turkey hoped to add to its budding arsenal will be shuffled in the company's intricate production schedule to ensure that the defense giant's assembly line will hum along without skipping a beat. The stock soared 17.84 (6%).
If you would like to learn more about LMT, click on this link:
club.ino.com/trend/analysis/stock/LMT?a_aid=CD3289&a_bid=6ae5b6f
Lockheed Martin jumps 5% after earnings top expectations and it raises 2019 forecast
Oil climbed for a 3rd straight session to mark another fresh high for the year, as traders reacted to tougher action against Iran's oil market from the US. West Texas Intermediate crude for Jun delivery, on its first full session as a front-month contract, added 75¢ (1.1%) to settle at $66.30. Jun Brent crude, the global benchmark, tacked on 47¢ (0.6%) at $74.51 a barrel. Both WTI & Brent tallied their highest front-month contract settlements since late Oct. Crude's latest rise extends Mon's rally on the heels the US decision to end waivers for countries importing Iranian oil, as part of a bid by the Trump administration to push Iran's exports to zero. The current waivers expire on May 2. Meanwhile, sanctions on Venezuela have also been contributing to supply jitters recently. Chatter has included speculation that tighter sanctions against Iran & Venezuela could trigger an end to the production-cut agreement among members & some nonmembers OPEC. That deal, in which OPEC & its allies agreed to cut production by 1.2M barrels a day, expires in Jun. Analysts say that deal has been helping to keep prices stable against the backdrop of rising US production.
Oil ends at highest since October, carving out a third straight gain
Gold prices finished lower as one popular measure of the $ teetered near a 2-year high, producing headwinds for bullion. Gold for Jun delivery declined $4.40 (0.3%) to settle at $1273.20 an ounce, with the commodity suffering from the lowest most-active contract settlement since Dec 26. The moves come as the ICE US $ Index, a key gauge of the greenback against six major rivals, was up 0.4% at 97.657. A move above 97.71 would mark its highest since Jun 2017. A stronger US unit can make buying the buck-pegged commodity comparatively more expensive for investors using other currencies. Prices for gold had edged higher yesterday. Gold lost 1.5% for the holiday-shortened stretch last week, with financial markets closed for Good Friday & many markets in Europe closed then & for Easter Monday. Gold, in fact, marked its 4th weekly loss in a row, with a jump in US retail figures providing support for the $ & dulling the appeal of the precious metal. A climb near new records for the S&P 500 index, the Dow & the NAZ also has highlighted growing appetite for assets perceived as risky & away from safe investments.
Gold prices settle at a nearly 4-month low as dollar perks up
Earnings reported today largely received a round of applause by investors. The S&P 500 reached a new reocrd & other popular stock averages (i.e. the Dow) are close to setting new records. Next week the Q1 report for GDP will be reported which will get a lot of attention by investors.
Dow Jones Industrials
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