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Stock Market Outlook for August 7, 2018

Central bank hiring activity this summer amongst the highest since previous significant shifts in monetary policy.

 

Real Time Economic Calendar provided by Investing.com.

 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.   As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

Stocks Entering Period of Seasonal Strength Today:

Axon Enterprise, Inc. (NASD:AAXN) Seasonal Chart

Axon Enterprise, Inc. (NASD:AAXN) Seasonal Chart

AMERISAFE, Inc. (NASD:AMSF) Seasonal Chart

AMERISAFE, Inc. (NASD:AMSF) Seasonal Chart

Bristow Group Inc. (NYSE:BRS) Seasonal Chart

Bristow Group Inc. (NYSE:BRS) Seasonal Chart

 

 

The Markets

Comments are limited today.

Stocks closed higher last week, marking the fifth consecutive positive week for the S&P 500 Index.

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As of the close on Monday, the large-cap benchmark is back to horizontal resistance at 2850.

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Gains last week followed another solid monthly employment report.  Headline print indicated the addition of 157,000 payrolls in July, short of the 190,000 consensus estimate.  Non-adjusted, payrolls fell by 1.156 million, or a decline of 0.8%.  Average decline for the month is 0.9%.  The year-to-date trend is three-tenths of one percent above the seasonal norm.

Total Nonfarm Seasonal Chart

Monthly Total Nonfarm Data

Manufacturing continues to factor prominently behind the results.

Manufacturing Seasonal Chart

Within the manufacturing category, the exceptional upside pace in machinery, computers, and electronic products continues.

Manufacturing: Machinery Seasonal ChartManufacturing: Computer and electronic products Seasonal Chart

Outside of the manufacturing sector, central bank hiring activity is well above average this summer.  The year-to-date trend is amongst the highest since 1999, 2008, and 2016, years that were in the midst of or slightly preceded significant shifts in monetary policy at the Fed.

http://charts.equityclock.com/seasonal_charts/economic_data/CEU5552100001_seasonal_chart.PNG

Further charts for the monthly employment situation report can be found via the following link: https://charts.equityclock.com/u-s-employment-situation

Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.90.

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Seasonal charts of companies reporting earnings today:

3D Systems Corporation (DDD) Seasonal Chart Abraxas Petroleum Corporation (AXAS) Seasonal Chart AECOM (ACM) Seasonal Chart Assurant, Inc. (AIZ) Seasonal Chart Avis Budget Group, Inc. (CAR) Seasonal Chart Barrett Business Services, Inc. (BBSI) Seasonal Chart  Beacon Roofing Supply, Inc. (BECN) Seasonal Chart  Cimarex Energy Co (XEC) Seasonal Chart Clean Energy Fuels Corp. (CLNE) Seasonal Chart Crocs, Inc. (CROX) Seasonal Chart Dean Foods Company (DF) Seasonal Chart Denbury Resources Inc. (DNR) Seasonal Chart DENTSPLY SIRONA Inc. (XRAY) Seasonal Chart Discovery, Inc. (DISCA) Seasonal Chart EMC Insurance Group Inc. (EMCI) Seasonal Chart Emerson Electric Company (EMR) Seasonal Chart Fossil Group, Inc. (FOSL) Seasonal Chart  Host Hotels & Resorts, Inc. (HST) Seasonal Chart  Infinity Pharmaceuticals, Inc. (INFI) Seasonal Chart International Flavors & Fragrances, Inc. (IFF) Seasonal Chart Jazz Pharmaceuticals plc (JAZZ) Seasonal Chart Johnson Outdoors Inc. (JOUT) Seasonal Chart Louisiana-Pacific Corporation (LPX) Seasonal Chart Mallinckrodt plc (MNK) Seasonal Chart Northwest Natural Gas Company (NWN) Seasonal Chart Office Depot, Inc. (ODP) Seasonal Chart Papa John's International, Inc. (PZZA) Seasonal Chart Pioneer Natural Resources Company (PXD) Seasonal Chart Plains All American Pipeline, L.P. (PAA) Seasonal Chart PPL Corporation (PPL) Seasonal Chart Star Bulk Carriers Corp. (SBLK) Seasonal Chart The Andersons, Inc. (ANDE) Seasonal Chart Transdigm Group Incorporated (TDG) Seasonal Chart U S Concrete, Inc. (USCR) Seasonal Chart Walt Disney Company (The) (DIS) Seasonal Chart Wendy's Company (The) (WEN) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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