Markets in a Minute - Electrified
By: Zac Martin
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
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