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Stock Market Outlook for June 11, 2019


Vehicle sales in the US trending around 10% below average through the first five months of the year as consumer preferences shift away from the spring period.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Bird Construction Inc. (TSE:BDT.TO) Seasonal Chart

Bird Construction Inc. (TSE:BDT.TO) Seasonal Chart

Alexion Pharmaceuticals, Inc. (NASD:ALXN) Seasonal Chart

Alexion Pharmaceuticals, Inc. (NASD:ALXN) Seasonal Chart

Ubiquiti Networks, Inc. (NASD:UBNT) Seasonal Chart

Ubiquiti Networks, Inc. (NASD:UBNT) Seasonal Chart

 

 

The Markets

Stocks followed through with last week’s gains on Monday as investors welcomed the resolution to trade negotiations between the US and Mexico.  The S&P 500 Index added just less than half of one percent, threating resistance just below 2900 at the highs of the day.  Short-term momentum indicators are rolling over from overbought territory, suggesting that some give-back of last week’s gain is probable.  Major moving average remain in a position of support, a successful test of which could entice money from the sidelines, conducive for an attempt at the all-time high.  Until then, we wait to see how much the bulls may be willing to relinquish as market participants await the next headline to move stocks.

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On the economic front, US Vehicle Sales rebounded in May, but the year-to-date change remains amongst the lowest levels on record. Total vehicles sales jumped by 18.7% last month, which is almost double the 9.9% increase that is average for this spring month. The result places the year-to-date change down by 2.4%, well below the 7.7% increase that is average through the first five months of the year.  Subscribers received further details on what is driving the aggregate result, including what the results may suggest about the health of businesses in the US.  Subscribe now and we’ll send you this analysis.

Total Vehicle Sales Seasonal Chart

Elsewhere in the economy, we received greater insight on the number of help wanted ads that employers had out in the month of April.  The headline print for April’s Job Openings and Turnover Survey was that openings fell by 25,000 to 7.449 million, beating the consensus analyst estimate that forecasted a decline of 74,000 to 7.400 million. To put the number into context, the Bureau of Labour Statistics indicates that 5.824 million people were unemployed on April, suggesting that at least one job is available for everyone that is actively looking. Stripping out the seasonal adjustments, job openings actually increased by 6.4% to 7.858 million in April, which is weaker than the 14.0% gain that is average for this spring month. The year-to-date change now sits at +13.5%, less than half of the 31.8% increase that is average by this point in the year.  The trends in this report often have leading implications for the broader economy.  We break it down for subscribers in a report that was released after the closing bell.  Subscribe now.

Job Openings: Total Nonfarm Seasonal Chart

Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.78.

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Seasonal charts of companies reporting earnings today:

Capstone Turbine Corporation (CPST) Seasonal Chart Chico's FAS, Inc. (CHS) Seasonal Chart Dave & Buster's Entertainment, Inc. (PLAY) Seasonal Chart H&R Block, Inc. (HRB) Seasonal Chart HD Supply Holdings, Inc. (HDS) Seasonal Chart John Wiley & Sons, Inc. (JW.A) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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