Author: Zac Martin, Investment Associate
Week Ending September 6th – Un-Inverted
- ISM Manufacturing PMI for August continues to contract while reporting just below analyst expectations to 47.2%. The largest decreases this month were from New Orders and Production, while Inventories expanded into growth.
- ISM Services PMI for August continues last month’s growth trajectory. With the largest increase coming from Inventory, offset by Inventory Sentiment being “Too High.”
- The Job Openings and Labor Turnover Summary saw job openings decrease to 7.67Mil, the July report missed expectations by 427k. Additionally, Quits were down meaningfully by 338k while the total amount of separations increased by 336k.
- The Employment Situation for August came in below expectations with the economy adding 142k jobs. The largest sector increase was Construction, which added 34k jobs. Meanwhile, the unemployment rate decreased 0.1% to 4.2% which was inline with analyst expectations.
The week ahead:
- NFIB Small Business Index (9/10)
- Consumer Price Index (9/11)
- Producer Price Index (9/12)
- Earnings: ORCL (9/9), KR, ADBE (9/12)
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.