Markets in a Minute - Runners' Lows

Insights | Markets in a Minute - Runners' Lows

Author: Zac Martin, Investment Associate

Week Ending June 28th – Runners’ Lows

Image
  • Consumer Confidence for June decreased slightly; however, results were still above analyst expectations. The consumers’ views of the labor market continue to buoy the index; however, positive future income and business expectations continue to wain.
  • The final read for Q1 GDP came in slightly ahead of expectations with a quarter over quarter increase of 1.4%. This was due to an increase of services consumption and fixed investment. Additionally, inventories continued to decline while state & local government spending increased.
  • Earnings: Volatile moves from last week’s earnings. FedEx reported a return of demand with volumes expected to recover. On the other end, Nike reported lower revenue, seeing lower demand across all markets. Finally, Micron announced results above expectations; however, highlighted a significant ramp in FY25 CapEx.  

The week ahead: 

  • ISM Manufacturing PMI (7/1)
  • JOLTS Report (7/2)
  • ISM Services PMI, FOMC Meeting Minutes & Factory Orders (7/3)
  • Nonfarm Payrolls & Unemployment (7/5)
  • Earnings: STZ (7/3)

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.