Morning Commentary
The stealth rally continues, and it remains unloved, and I suspect those that are long this market are loving the fact this remarkable run is ignored and dismissed.
The mavens that have missed the move continue to be wrong on everything from the Fed to the consumer. But the stock market, not the mavens, continue to anticipate that a strong and determined consumer keeps the economy and stock market elevated.
See the late move yesterday in Consumer Discretionary, as Amazon (AMZN) and Walmart (WMT) shares reflect the fact there can be more than one winner in the Internet era of shopping.
Late Surge |
4:00 PM |
2:00 PM |
S&P 500 Index |
+0.02% |
-0.13% |
Communication Services (XLC) |
+0.02% |
-0.27% |
Consumer Discretionary (XLY) |
+0.32% |
-0.10% |
Consumer Staples (XLP) |
+0.23% |
+0.13% |
Energy (XLE) |
-0.90% |
-0.69% |
Financials (XLF) |
-0.57% |
-0.58% |
Health Care (XLV) |
+0.22% |
+0.26% |
Industrials (XLI) |
-0.41% |
-0.45% |
Materials (XLB) |
+0.07% |
-0.19% |
Real Estate (XLRE) |
+0.13% |
+0.34% |
Technology (XLK) |
+0.33% |
+0.10% |
Utilities (XLU) |
+0.40% |
+0.13% |
Retail Sales
Retail sales came in much better than expected, and the so-called control group is up enough to move 2Q 2019 GDP needle.
Interestingly, splurging reflects confidence in restaurant and bars versus eating at home, while the surge in Internet continues. But, the death spiral in department stores also continues, -1.1 month to month and -5.2% from a year ago.
Retail & Food Sales June 2019 |
M/M |
Y/Y |
Headline |
+0.4 |
+3.4 |
Ex-Vehicle |
+0.4 |
+3.3 |
Ex-Gasoline |
+0.7 |
+3.9 |
Ex- Vehicles & Gasoline |
+0.7 |
+3.8 |
Vehicle |
+0.7 |
+4.1 |
Furniture |
+0.5 |
+0.8 |
Electronic |
-0.3 |
-5.0 |
Building Materials |
+0.5 |
-2.5 |
Food & Beverage |
+0.5 |
+2.9 |
Health & Personal Care |
+0.5 |
+5.5 |
Gas Station |
-2.8 |
-1.7 |
Clothes |
+0.5 |
-0.9 |
Sporting Goods |
+0.0 |
-3.3 |
General Merchandise |
+0.2 |
+2.5 |
Miscellaneous |
+0.6 |
+3.2 |
Internet |
+1.7
|
+13.4 |
Restaurants & Bars |
+0.9 |
+4.0 |
Portfolio Approach
Communication Services |
Consumer Discretionary |
Consumer Staples |
1 |
4 |
1 |
Energy |
Financials |
Healthcare |
1 |
2 |
1 |
Industrial |
Materials |
Real Estate |
2 |
3 |
1 |
Technology |
Utilities |
Cash |
3 |
0 |
1 |
Today’s Session
Look at JB Hunt (JBHT) and remember the observation I shared yesterday. Right now, this is the stock of the day.
Comments |
I have watched you and your optimistic viewpoint and have agreed 100% with you. I cashed out one quarter of my stocks before the big crash and then bought back in on some of the top and expensive stocks at a much lower lower price. Everyone I know thought I was crazy. I am up this year alone 35%. Thanks for all your good ideas and knowledge. You and fox business news have totally helped me as well as just looking around and seeing the lack of employees available because everyone is working. By the way, been in and out of Roku and Nutanix in the last two years and have a tremendous amount of money. Thank you sally baumann on 7/16/2019 10:39:36 AM |
Tweet |
4/26/2024 1:46 PM | Full Steam |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
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