Markets End Mixed Despite Broad Rally
Originally published: 07.17.15 by Margot Crabtree
Although markets began our session with a record high for the Nasdaq and closed with a broad rally, the rest of the session was volatile as investors grappled with the Greek debt crisis. As our trading session ended July 15, 2015, investors overlooked earnings and concentrated on the uncertainty in post-referendum Greece.
The Conference Board said that its index of leading indicators, a gauge of future economic health, gained 0.7 percent in May, mirroring the improvement in April. Consumer spending was on the upswing in May: the Commerce Department reported a rise of 0.9 percent, the largest monthly gain since August 2009.
The Commerce Department said that the economy contracted less than previously expected, posting a 0.2 percent shrinkage from January through March, rather than the 0.7 percent level announced earlier. Manufacturing growth improved in June as the Institute for Supply Management’s manufacturing index rose to 53.5, from 52.8 in May, in line with January’s number for the highest this year.
As June wrapped up, stocks endured their worst day of the year. New home sales rose 2.2 percent in May and sales of existing homes rose 5.1 percent, but durable goods were down 1.8 percent in May following a similar drop in April.
The National Association of Home Builders/Wells Fargo builder sentiment index improved to 59 in June, from May’s 54, and builders’ outlook on sales for the next six months is at its best in 10 years. The Commerce Department reported a 0.8 percent in total construction spending in May, the strongest activity since October 2008.
The largest gain came in non-residential construction, including hotels, amusement parks and manufacturing facilities and governmental projects. Alcoa kicked off the earnings season, but the results paled against the backdrop of Greece uncertainty and the tumble in the Chinese stock market.
“You come in some days and it looks like it’s all clear and that Greece has been resolved, and the next day it hasn’t,” said Michael Scanlon, portfolio manager with John Hancock Asset Management.
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 22.52 | 23.55 | -1.03 | -4.37% | 25.17 | 16.78 | 54140 | 1219232.8 |
| NYSE | ABB | ABB Ltd. | 20.52 | 22.51 | -1.99 | -8.84% | 24.15 | 19.14 | 2240000 | 45964800 |
| NYSE | ARG | Airgas, Inc. | 103.99 | 105.01 | -1.02 | -0.97% | 119.00 | 99.61 | 74620 | 7759733.8 |
| NYSE | AOS | AO Smith Corp. | 67.96 | 72.78 | -4.82 | -6.62% | 74.40 | 44.60 | 76050 | 5168358 |
| NYSE | FIX | Comfort Systems USA, Inc. | 22.98 | 23.05 | -0.07 | -0.30% | 23.96 | 12.63 | 36860 | 847042.8 |
| NYSE | DOV | Dover Corp. | 65.81 | 71.89 | -6.08 | -8.46% | 90.65 | 64.69 | 160380 | 10554607.8 |
| NASD | ELON | Echelon Corp. | 0.71 | 0.90 | -0.19 | -21.11% | 2.74 | 0.63 | 44050 | 31275.5 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 59.00 | 69.05 | -10.05 | -14.55% | 76.59 | 57.87 | 905240 | 53409160 |
| NYSE | EME | EMCOR Group, Inc. | 48.31 | 47.01 | 1.30 | 2.77% | 48.89 | 38.68 | 62690 | 3028553.9 |
| NYSE | EMR | Emerson Electric Co. | 53.48 | 58.70 | -5.22 | -8.89% | 68.23 | 53.26 | 668300 | 35740684 |
| NYSE | FCAU | Fiat Chrysler | 14.83 | 15.51 | -0.68 | -4.38% | 17.08 | 8.54 | 1290000 | 19130700 |
| NYSE | F | Ford Motor Co. | 14.75 | 15.05 | -0.30 | -1.99% | 18.12 | 13.26 | 3900000 | 57525000 |
| NYSE | GM | General Motors Co. | 31.43 | 35.46 | -4.03 | -11.36% | 38.99 | 28.82 | 1610000 | 50602300 |
| NYSE | HON | Honeywell International, Inc. | 103.84 | 103.44 | 0.40 | 0.39% | 107.10 | 82.89 | 781710 | 81172766.4 |
| NASD | HDSN | Hudson Technologies, Inc. | 3.22 | 4.03 | -0.81 | -20.10% | 4.80 | 2.60 | 32360 | 104199.2 |
| NYSE | IR | Ingersoll-Rand Plc | 67.37 | 69.04 | -1.67 | -2.42% | 70.93 | 52.47 | 264720 | 17834186.4 |
| NYSE | JCI | Johnson Controls, Inc. | 48.67 | 51.58 | -2.91 | -5.64% | 54.52 | 38.60 | 654830 | 31870576.1 |
| NYSE | LII | Lennox International Inc. | 107.57 | 113.60 | -6.03 | -5.31% | 118.43 | 72.91 | 45000 | 4840650 |
| NYSE | LXU | LSB Industries, Inc. | 39.07 | 43.15 | -4.08 | -9.46% | 47.33 | 28.91 | 22730 | 888061.1 |
| NYSE | MTW | Manitowoc Co., Inc. | 18.30 | 19.66 | -1.36 | -6.92% | 32.29 | 16.24 | 136150 | 2491545 |
| NYSE | MLI | Mueller Industries, Inc. | 34.33 | 35.41 | -1.08 | -3.05% | 37.18 | 27.10 | 56930 | 1954406.9 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 41.91 | 40.60 | 1.31 | 3.23% | 42.61 | 30.85 | 268700 | 11261217 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 19.72 | 20.40 | -0.68 | -3.33% | 21.75 | 16.65 | 2100000 | 41412000 |
| NASD | NTK | Nortek, Inc. | 83.60 | 84.00 | -0.40 | -0.48% | 89.92 | 70.73 | 16270 | 1360172 |
| NASD | OFLX | OmegaFlex, Inc. | 37.60 | 35.30 | 2.30 | 6.52% | 39.46 | 15.93 | 10090 | 379384 |
| NYSE | PH | Parker-Hannifin Corp. | 113.04 | 118.20 | -5.16 | -4.37% | 133.41 | 99.82 | 138680 | 15676387.2 |
| NYSE | RBC | Regal-Beloit Corp. | 68.90 | 75.86 | -6.96 | -9.17% | 81.36 | 62.15 | 44810 | 3087409 |
| NYSE | ROK | Rockwell Automation | 122.89 | 123.90 | -1.01 | -0.82% | 127.05 | 98.55 | 134580 | 16538536.2 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 102.60 | 104.52 | -1.92 | -1.84% | 128.28 | 95.27 | 827020 | 84852252 |
| NYSE | SPW | SPX Corp. | 67.68 | 71.47 | -3.79 | -5.30% | 107.76 | 66.84 | 41030 | 2776910.4 |
| NYSE | TXN | Texas Instruments | 49.49 | 53.04 | -3.55 | -6.69% | 59.99 | 41.47 | 1040000 | 51469600 |
| NYSE | UTX | United Technologies Corp. | 111.25 | 114.61 | -3.36 | -2.93% | 124.45 | 97.30 | 890200 | 99034750 |
| NYSE | WSO | Watsco, Inc. | 124.40 | 122.58 | 1.82 | 1.48% | 131.10 | 84.28 | 27570 | 3429708 |
The HVACR Business Stock Index tumbled 65.53 points, or 5.12 percent, and closed at 1214.01. Declining issues easily outpaced advancing issues by a 28-to-5 count.
DuPont lost 10.05 points, or 14.55 percent and hit a 52-week low after the spin-off of its performance chemicals business, Chemours, which now trades on the New York Exchange under the ticker “CC.”
Investment firm RBC Capital Markets maintained its “sector perform” on DuPont, but cut its price target to $64, from $69. DD closed at 59 even, and was the top dollar loser. OmegaFlex was the top dollar and percentage gainer this session, but there was little news to explain the increase except for increased volume toward the end of June.
OmegaFlex will report earnings at the end of July. OFLX rose 2.30 points, or 6.52 percent, and ended at 37.60. Echelon Corp received a notice from the NASDAQ Market about ELON’s failure to comply with exchange’s minimum pricing rule.
The company has until December 22, 2015 to regain compliance with listing standards. ELON slid 0.19 points, or 21.11 percent, and was the top percentage loser. Echelon closed at 0.71.
Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit www.tradetrendsonline.com.