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Stock Market Outlook for August 6, 2019



 

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:

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Exxon Mobil Corp. (NYSE:XOM) Seasonal Chart

Exxon Mobil Corp. (NYSE:XOM) Seasonal Chart

Telus Corp. (NYSE:TU) Seasonal Chart

Telus Corp. (NYSE:TU) Seasonal Chart

Allegiant Travel Co. (NASD:ALGT) Seasonal Chart

Allegiant Travel Co. (NASD:ALGT) Seasonal Chart

Sierra Wireless, Inc. (TSE:SW.TO) Seasonal Chart

Sierra Wireless, Inc. (TSE:SW.TO) Seasonal Chart

Primoris Services Corp. (NASD:PRIM) Seasonal Chart

Primoris Services Corp. (NASD:PRIM) Seasonal Chart

Cavium Networks Inc. (NASD:CAVM) Seasonal Chart

Cavium Networks Inc. (NASD:CAVM) Seasonal Chart

Stantec Inc (NYSE:STN) Seasonal Chart

Stantec Inc (NYSE:STN) Seasonal Chart

Nelnet Inc. (NYSE:NNI) Seasonal Chart

Nelnet Inc. (NYSE:NNI) Seasonal Chart

Paychex, Inc. (NASD:PAYX) Seasonal Chart

Paychex, Inc. (NASD:PAYX) Seasonal Chart

 

 

The Markets

No commentary will be provided for Tuesday.  Next report will be released on Tuesday evening.

On the economic front, the employment situation report for July was released before Friday’s opening bell.   The headline print showed that US payrolls expanded by 164,000 in July, which is stronger than the 151,000 increase that was forecasted by analysts. The unemployment rate ticked higher by a tenth of a percent to 3.7%, as did average hourly earnings, which are now higher year-over-year by 3.2%. Stripping out the seasonal adjustments, payrolls in the US actually declined by 1.059 million in July, or 0.7%, which is stronger than the 0.9% decline that is average for the month. The year-to-date change is now trending three-tenths of a percent above the seasonal average trend.  We sent out further analysis to subscribers, including what recent reports on economic activity have to say about the risk-reward for equity markets.  Subscribe now to login and view this report.

Total Nonfarm Seasonal Chart

Also released on Friday was the final tally of Factory Orders for the month of June.  Subscribers can login and view the seasonal charts via the following link: https://charts.equityclock.com/u-s-factory-orders

Sentiment on Friday, as gauged by the put call ratio, ended bearish at 1.13.  At the lows of the session for stock prices, the ratio hit a high of 1.24, which is one of the highest levels of the year.  Excessive fear often leads to appealing buying opportunities.  Confirmation of a peak in fear should be sought.

 

Seasonal charts of companies reporting earnings today:

American States Water Company (AWR) Seasonal Chart Avid Technology, Inc. (AVID) Seasonal Chart Avis Budget Group, Inc. (CAR) Seasonal Chart Cabot Corporation (CBT) Seasonal Chart Caesars Entertainment Corporation (CZR) Seasonal Chart Cimarex Energy Co (XEC) Seasonal Chart Diamond Offshore Drilling, Inc. (DO) Seasonal Chart International Flavors & Fragrances, Inc. (IFF) Seasonal Chart Jacobs Engineering Group Inc. (JEC) Seasonal Chart KLA Corporation (KLAC) Seasonal Chart Loews Corporation (L) Seasonal Chart Marriott International (MAR) Seasonal Chart Sterling Construction Company Inc (STRL) Seasonal Chart Take-Two Interactive Software, Inc. (TTWO) Seasonal Chart Tenet Healthcare Corporation (THC) Seasonal Chart Tyson Foods, Inc. (TSN) Seasonal Chart Veeco Instruments Inc. (VECO) Seasonal Chart AECOM (ACM) Seasonal Chart Alleghany Corporation (Y) Seasonal Chart Apollo Investment Corporation (AINV) Seasonal Chart Aqua America, Inc. (WTR) Seasonal Chart Assurant, Inc. (AIZ) Seasonal Chart B2Gold Corp (BTG) Seasonal Chart Beacon Roofing Supply, Inc. (BECN) Seasonal Chart Becton, Dickinson and Company (BDX) Seasonal Chart Chesapeake Energy Corporation (CHK) Seasonal Chart Choice Hotels International, Inc. (CHH) Seasonal Chart Dean Foods Company (DF) Seasonal Chart Devon Energy Corporation (DVN) Seasonal Chart Discovery, Inc. (DISCA) Seasonal Chart Duke Energy Corporation (DUK) Seasonal Chart El Paso Electric Company (EE) Seasonal Chart Endo International plc (ENDP) Seasonal Chart Expeditors International of Washington, Inc. (EXPD) Seasonal Chart Frontier Communications Corporation (FTR) Seasonal Chart GW Pharmaceuticals Plc (GWPH) Seasonal Chart Henry Schein, Inc. (HSIC) Seasonal Chart Host Hotels & Resorts, Inc. (HST) Seasonal Chart Intrepid Potash, Inc (IPI) Seasonal Chart Jazz Pharmaceuticals plc (JAZZ) Seasonal Chart Louisiana-Pacific Corporation (LPX) Seasonal Chart Mallinckrodt plc (MNK) Seasonal Chart Mosaic Company (The) (MOS) 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 Walt Disney Company (The) (DIS) Seasonal Chart Wynn Resorts, Limited (WYNN) Seasonal Chart Zoetis Inc. (ZTS) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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