Weekly Market Snapshot

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Market related news for the week ending January 10, 2020
  • Monday shares of Bed Bath and Beyond jumped nearly 5% after the company announced it had completed a sale-leaseback transaction that releases $250 million in capital. In addition, the company said it would close 60 stores. Pier 1 also announced it would close 450 stores, or around half of its locations. Bloomberg also reported that Pier 1 had drafted a Chapter 11 plan.
  • American Airlines reached a settlement with Boeing Monday to compensate for damage from the grounding of the 737 Max.
  • Tuesday Tesla shares surged over 17% after the launch of the Model Y in China.
  • Boeing shares rose Tuesday after rumors circulated that Warren Buffet was building a stake in the company.
  • Wednesday the Nasdaq and S&P 500® hit a record high after a relief rally in the wake of President Trump’s comments on Iran attack.
  • Macys announced Wednesday it would close 29 stores including a Bloomingdales store.
  • Thursday J.C Penney shares sank over 10% after reporting a 7.5% decline in holiday sales. Kohl’s and Macy’s shares also fell on news of falling holiday sales. Bed Bath and Beyond fell over 19% on disappointing earnings and revenue.
  • Monday: Markit Services PMI for December was 52.8, a more robust pace than initially forecast.
  • Tuesday: ISM Non-manufacturing Index for December was 55.0, higher-than-expected.
  • Tuesday: Factory Orders for November were down 0.7%.
  • Wednesday: ADP Employment for December came in at 202,000, much higher-than-expected.
  • Thursday: Weekly Jobless Claims for week ending 1/4 were 214,000, the fourth week in a row they have dropped.
  • Friday: Non-farm Payrolls for December were 145,000, lower-than expected. The unemployment rate held at 3.5%. Wage growth came in at 2.9% year-over-year.
Looking ahead: Economic news for the week ending January 17, 2020
  • Tuesday: NFIB Small Business Index for December at 6.00am.
  • Tuesday: Consumer Price Index for December at 8.30am.
  • Wednesday: Producer Price Index for December at 8.30am.
  • Wednesday: Empire State Index for January at 8.30am.
  • Thursday: Weekly Jobless Claims for week 1/11 at 8.30am.
  • Thursday: Retail Sales for December at 8.30am.
  • Thursday: Philly Fed for January at 8.30am.
  • Thursday: NAHB Home Builders’ Index for January at 10.00am.
  • Friday: Housing Starts for December at 8.30am.
  • Friday: Building Permits for December at 8.30am.
  • Friday: Industrial Production for December at 9.15am.
  • Friday: Consumer Sentiment Index for January at 10.00am.
  • Friday: JOLT Survey for November at 10.00am.

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