Author: Zac Martin, Investment Associate
Week Ending October 25th – Electrified
The Leading Economic Indicators Index for September declined further than analyst expectations. Weakness in factory new orders continues to be the major drag but was compounded by tepid consumer outlook and declining building permits.
Existing Home Sales for September declined slightly to 3.84M homes sold in the last twelve months. According to the NAR, home sales have been “stuck” at this level for the past twelve months, however, factors for accelerated home sales are beginning to increase.
Chicago Business Activity remained negative for now the fourth report; however, the diffusion index remains in economic expansion territory.
Earnings: Tesla reported FY 2025 could see significant revenue growth due to the rollout of new vehicles, including more affordable models. 3M saw an increase in operating margin while management was optimistic on improving demand. Additionally, both Union Pacific and Norfolk Southern saw an increase in freight volumes. Management for both companies highlighted a positive outlook for intermodal demand.
The week ahead:
JOLTS report for September (10/29)
ADP Employment, GDP Q3 1st preliminary reading (10/30)
Personal Consumption Expenditures (10/31)
Nonfarm Payrolls & Unemployment (11/01)
Earnings: AAPL, META, MSFT, AMZN, MCD, AMD, SYY, V, CMG, ADP, LLY, TT
HORAN Capital Advisors, LLC is an SEC registered investment advisor. The information herein has been obtained from sources believed to be reliable but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HCA and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.