Markets in a Minute - Flightless Falcons

Insights | Markets in a Minute - Flightless Falcons

Author: Zac Martin, Investment Associate

Week Ending July 19th – Flightless Falcons

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  • Retail Sales for June beat analyst expectations by 0.2%, essentially flat for the month. Motor vehicles and Gas Stations saw the largest decline, partially offset by an increase in building supplies and nonretailers.
  • Housing Permits & Starts for June saw a surprising increase to 1,446K and 1,353K, respectively. Housing Permits & Starts remain below 2021 highs but continue to stabilize.
  • Leading Economic Indicators Index remains in contractionary territory; however, this recent move lower has been smaller than the last three months. On the other hand, the year over year rate is slowing, which is positive.
  • Earnings: Credit Cards have signaled that spending remains strong; Discover reported credit delinquencies are down quarter to quarter. On the industrial side, J.B. Hunt continues to see decreases in shipping volumes, while warehousing demand (Prologis) remains subdued but improving. Airlines however are seeing decreased demand paired with higher expenses.

The week ahead: 

  • Markit PMIs (7/24)
  • GDP Q2 First Preliminary (7/25)
  • Personal Consumption Expenditures (7/26)
  • Earnings: NXPI, NUE, CDNS (7/22), GE, UPS, KO, CB, GOOG, TSLA, V (7/23), T, TMO, BSX, GD, ODFL, FI, NEE, KLAC, NOW, F, CMG (7/24), CARR, ABBV, HON, LUV, NOC, TSCO, KDP, UNP, DLR, BKR (7/25)

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.

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