fbpx Accept-Encoding: deflate, gzip

Registered Investment Adviser Caleb Lawrence

The major averages recovered their early losses to enter the final hour about even on mixed data. Factset reports that with 90% of the Standard and Poors 500 companies having reported 1st quarter earnings, revenues are on track to grow 7.8% while earnings look to advance 13.6% one of the best quarterly results in a few years after a lengthy series of significant declines. Leadership was seen in the Information Technology and Energy sectors.

Industrial Production advanced for a 3rd month in April up 1%, strength was seen in mining and utilities. Capacity utilization jumped .6% to 76.7%, while a solid figure it remains some 3.2% below its 1972-2016 average.

Housing starts slipped 2.6% in April to 1,172,000 units annualized, on a year ago basis starts are up .7%. Permits fell 2.5% in April to 1,229,000 million units annualized, from a year ago permits are up 5.7%.



Enjoy this blog? Please spread the word :)