Barron's - USA (2020-08-03)

M32 BARRON’S August 3, 2020

Market Laboratory

DOWJONESU.S.TOTALMARKETINDUSTRYGROUPS

NetChange %ChangeandRanking 52Week

Top20WeeklyRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low

Computer Hardware DJUSCR 5271.72+ 638.181,434.86 +13.77 [1] +84.46 [2] +37.40 [6] +36.33 5,271.72 2,591.24

Delivery Svcs DJUSAF 1113.32+ 134.37 167.40 +13.73 [2] +12.53 [37] +17.70 [20] +4.13 1,113.32 666.48

Real Estate Services DJUSES 231.82 + 24.88 –3.79 +12.03 [3] +6.02 [54] –1.61 [53] +13.94 262.20 152.88

Real Estate Investmt& SvcsDJUSRH 484.39 + 49.76 –36.65 +11.45 [4] –1.21 [75] –7.03 [80] +10.27 573.68 320.35

Technology Hardware& Equip DJUSTQ 2611.03+ 204.26 481.76 +8.49 [5] +48.36 [8] +22.63 [16] +26.90 2,611.03 1,580.41

Specialized Consumer Svcs DJUSCS 1776.20 + 87.91 3.35 +5.21 [6] –2.18 [79] +.19 [47] +13.57 1,898.19 1,129.85

Diversified REITs DJUSDT 57.26 + 2.61 –24.59 +4.78 [7] –32.20 [122] –30.04 [118] –12.28 91.83 37.91

Financial Administration DJUSFA 698.01 + 31.59 94.49 +4.74 [8] +17.25 [28] +15.66 [22] +23.96 698.01 410.40

Industrial & Office REITs DJUSIO 110.29 + 4.90 –9.19 +4.65 [9] –1.19 [74] –7.69 [81] +3.26 128.46 76.34

Nondurable Hshld Pdts DJUSHN 1070.12 + 47.10 87.85 +4.60 [10] +14.06 [35] +8.94 [29] +13.54 1,070.12 784.84

Real Estate DJUSRE 323.24 + 13.90 –44.13 +4.49 [11] –8.16 [88] –12.01 [90] +.35 394.92 226.28

Industrial Transportation DJUSIT 1184.53 + 50.70 55.11 +4.47 [12] +5.94 [55] +4.88 [37] +11.66 1,184.53 766.79

Specialty REITs DJUSSR 242.26 + 9.84 7.41 +4.24 [13] +8.44 [47] +3.16 [39] +7.80 259.07 164.05

Broadline Retailers DJUSRB 3140.56+ 126.401,120.42 +4.19 [14] +59.02 [6] +55.46 [2] +40.33 3,166.49 1,791.13

Real Estate Inv Trusts DJUSRI 132.92 + 5.29 –18.58 +4.15 [15] –8.50 [90] –12.26 [91] +.03 162.69 93.32

Furnishings DJUSFH 254.41 + 10.10–103.61 +4.13 [16] –20.52 [112] –28.94 [116] –16.20 388.28 151.80

Residential REITs DJUSRN 201.27 + 7.99 –43.33 +4.13 [17] –13.86 [106] –17.72 [104] +.08 266.98 148.77

HshldGoods & Home ConstrDJUSHG 838.42 + 32.69 56.03 +4.06 [18] +14.70 [32] +7.16 [33] +9.22 838.42 561.37

Semiconductor DJUSSC 4871.08+ 178.43 557.63 +3.80 [19] +33.17 [15] +12.93 [23] +21.44 4,946.67 3,082.27

Recreational Products DJUSRP 493.25 + 17.83 114.39 +3.75 [20] +49.79 [7] +30.19 [9] +15.56 504.49 216.09

NetChange %ChangeandRanking 52Week

Top20YrAgoRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low

Automobiles DJUSAU 382.54 – 1.72 169.78 –.45 [92] +107.25 [1] +79.80 [1] +23.07 429.16 134.39

Computer Hardware DJUSCR 5271.72+ 638.181,434.86 +13.77 [1] +84.46 [2] +37.40 [6] +36.33 5,271.72 2,591.24

Gold Mining DJUSPM 155.97 + 5.32 52.70 +3.53 [22] +76.01 [3] +51.03 [3] +23.27 155.97 87.77

Mining DJUSMG 144.52 + 4.87 47.72 +3.48 [23] +68.94 [4] +49.31 [4] +19.29 144.52 81.60

Automobiles & Parts DJUSAP 484.22 – 5.12 150.44 –1.05 [104] +63.30 [5] +45.07 [5] +13.34 533.84 195.90

Broadline Retailers DJUSRB 3140.56+ 126.401,120.42 +4.19 [14] +59.02 [6] +55.46 [2] +40.33 3,166.49 1,791.13

Recreational Products DJUSRP 493.25 + 17.83 114.39 +3.75 [20] +49.79 [7] +30.19 [9] +15.56 504.49 216.09

Technology Hardware& Equip DJUSTQ 2611.03+ 204.26 481.76 +8.49 [5] +48.36 [8] +22.63 [16] +26.90 2,611.03 1,580.41

Leisure Goods DJUSLE 829.79 + 26.20 180.24 +3.26 [27] +45.48 [9] +27.75 [10] +9.64 829.79 491.25

Toys DJUSTY 1231.92 + 37.75 263.88 +3.16 [29] +40.50 [10] +27.26 [12] +7.48 1,231.92 765.22

General Retailers DJUSGT 2106.16 + 62.65 552.36 +3.07 [30] +40.34 [11] +35.55 [7] +30.47 2,106.16 1,258.95

Software DJUSSW 3876.88 + 91.55 833.18 +2.42 [35] +39.98 [12] +27.37 [11] +33.83 4,010.65 2,522.55

Retail DJUSRT 1823.83 + 47.98 430.43 +2.70 [33] +36.63 [13] +30.89 [8] +26.17 1,823.83 1,135.92

Home Construction DJUSHB 1097.01 + 35.29 162.65 +3.32 [26] +36.32 [14] +17.41 [21] +16.21 1,107.03 486.36

Semiconductor DJUSSC 4871.08+ 178.43 557.63 +3.80 [19] +33.17 [15] +12.93 [23] +21.44 4,946.67 3,082.27

Software & Computer Svcs DJUSSV 3601.04 + 96.43 683.08 +2.75 [31] +31.95 [16] +23.41 [15] +24.52 3,658.98 2,332.65

Specialty Retailers DJUSRS 2218.15 + 41.81 472.76 +1.92 [41] +30.79 [17] +27.09 [13] +26.82 2,238.13 1,335.92

Biotechnology DJUSBT 2432.83 – 22.99 273.60 –.94 [103] +30.35 [18] +12.67 [24] +8.26 2,585.25 1,749.60

Trucking DJUSTK 1058.66 + 14.76 204.09 +1.41 [48] +30.30 [19] +23.88 [14] +21.29 1,066.50 659.48

Specialty Finance DJUSSP 390.58 – 6.24 61.68 –1.57 [113] +30.16 [20] +18.75 [19] +29.02 404.57 230.56

Groupsareweightedbycapitalization.52-weekhighsandlowsarebasedondailycloses.Dec.31,1991=100.IntheU.S.listings,%volchg
columnshowsthechangefromprevious65-daymovingaverage.Volumefiguresdonotreflectextendedtradinghours.

ComingEarnings

Day Consensus Year

Estimate Ago

Continuedfrompage11ofthemainsection.

T

DevonEnergy(Q2) -0.26 0.43

Exelon(Q2) 0.43 0.60

ExpeditorsInt’lofWash.(Q2) 0.72 0.88

KKR(Q2) 0.36 0.39

PrudentialFinancial(Q2) 1.71 3.14

VulcanMaterials(Q2) 1.38 1.48

WaltDisney(Q3) -0.61 1.35

W

AmericanWaterWorks(Q2) 0.96 0.94

CenturyLink(Q2) 0.32 0.34

CVSHealth(Q2) 1.89 1.89

Matson(Q2) 0.73 0.43

Metlife(Q2) 0.90 1.38

Moderna(Q2) -0.35 -0.41

NiSource(Q2) 0.08 0.05

Regeneron (Q2) 5.91 6.02

SempraEnergy(Q2) 1.55 1.10

TH

AES(Q2) 0.23 0.26

BrighthouseFinancial(Q2) 0.88 2.19

BristolMyersSquibb(Q2) 1.49 1.18

CenterpointEnergy(Q2) 0.21 0.35

Datadog(Q2) 0.01 ....

DropBox(Q2) 0.17 0.10

YETI(Q2) 0.15 0.33

Zoetis(Q2) 0.64 0.90

F

KimcoRealty(Q2) 0.24 0.36

NewJerseyResources(Q3) 0.07 -0.20

(Earningsaredilutedandreportdatesaretentative. Allfore-

castsandhistoricalnumbersexcludeextraordinaryitemsby

accountingdefinitions.)

Source:FactSet

SELECTEDINITIALPUBLICOFFERINGS

Initial Most

Ticker Offer IPO Recent %

Code Price Date Price Chg

1847Goedeker GOED 9.00 7/31 8.90 -1.1%

CCNeubergerPrinII PRPBU 10.00 7/31 10.07 0.7%

E.MergeTechnology ETACU 10.00 7/31 10.00 0.0%

FathomHoldings FTHM 10.00 7/31 10.03 0.3%

LiAuto LI 11.50 7/31 16.00 39.1%

NewHoldInvestment NHICU 10.00 7/31 9.91 -0.9%

VastaPlatform VSTA 19.00 7/31 18.85 -0.8%

VitalFarms VITL 22.00 7/31 35.26 60.3%

AlloVir ALVR 17.00 7/30 24.90 46.5%

ChurchillCapitalIV CCIVU 10.00 7/30 10.00 0.0%

Vertex VERX 19.00 7/29 23.56 24.0%

ACEConvergence ACEVU 10.00 7/28 10.02 0.2%

Onlyincludesnewreports.
Latest Latest Preceding Year YroYr
EconomicGrowthandInvestment Date Data Period Ago %Chg

Gross domestic product ................................................................ 2nd Qtr –32.9 –5.0 1.5 –9.50

Personal income, (bil. $)................................................................ June 19,880.3 r20,103.1 18,509.4 7.41

Personal Savings Rate, St.Louis Fed.............................................. June 19.0 r24.2 7.1 167.61

All fixed investment, (bil. $)............................................................ 2nd Qtr 3,088.6 r3,375.4 3,358.6 –8.04

Non–residential investment, (bil. $) ............................................... 2nd Qtr 2,526.7 r2,733.8 2,771.0 –8.82

Residential investment, (bil. $) ...................................................... 2nd Qtr 564.1 r637.6 595.2 –5.23

Production

Electric power, (mil. kw hrs) (EEI) .................................................. July 25 92,928 91,822 89,276 4.09

Petroleum, related capacity, % ...................................................... July 24 79.5 77.9 93.0 –14.52

Rotary rigs running, U.S. & Can., (Hughes).................................... July 31 296 293 1,079 –72.57

Steel, (thous. tons)........................................................................ July 25 1,320 1,306 1,884 –29.94

Steel, rated capacity, % (AISI)........................................................ July 25 58.9 58.3 80.9 –27.19

ConsumptionandDistribution

Consumer spending, (bil. $) .......................................................... June 13,851.2 r13,113.5 14,555.8 –4.84

Durable goods (bil. $).................................................................... June 227.1 r197.7 257.0 –11.63

Instinet Research Redbook Avg. (monthly %)................................ July 25 1.07 –0.62 0.11 ....

Baltic Dry Index ............................................................................. July 30 1,348 1,317 1,788 –24.61

Personal consumption, (bil. $)....................................................... 2nd Qtr 11,796.6 r13,118.4 13,212.8 –10.72

Inventories

Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) ........... July 24 525,969 536,580 436,545 20.48

Gasoline, (thous. bbls) .................................................................. July 24 247,387 246,733 230,735 7.22

Latest Latest Preceding Year YroYr

Date Data Period Ago %Chg

PULSEOFTHEECONOMY

Orders

Durable goods, (bil. $)................................................................... June 206.9 r192.9 245.3 –15.65

Trade

Exports, (bil. $).............................................................................. 2nd Qtr 1,931.6 r2,495.1 2,531.4 –23.69

Imports, (bil. $) ............................................................................. 2nd Qtr 2,712.3 r3,283.1 3,482.9 –22.13

Inflation

JOC–ECRI Industrial Price Index f.................................................. July 31 83.24 81.53 89.96 –7.47

Gross domestic product deflator.................................................... 2nd Qtr –1.8 1.4 2.5 ....

Employment

Employment cost index ................................................................. 2nd Qtr 142.9 142.5 139.1 2.73

Initial jobless claims (thous.) ........................................................ July 25 1,434 r1,422 216 563.89

Continuing claims (mil.) ................................................................ July 18 17.018 r16.151 1.699 901.65

Construction

Home Price Index S&P Case–Shiller – Comp. 10 (SA) .................... May 236.98 r236.37 229.91 3.08

OtherIndicators

Consumer confidence (Conference Board) .................................... July 92.6 r98.3 135.8 –31.81

Citi Research Panic–Euphoria Reading .......................................... July 31 0.86 r0.79 0.17 ....

a-1997equals100.b-1982-84equals100.c-1982equals100.f-1996equals100.h-benchmarkrevision,2016equals100.r-Revised.

US TREASURY BILLS

Wkly Ask

Maturity Bid Asked Chg. Yld.

Aug 04 '20 0.08 0.07 -0.02 0.07

Aug 06 '20 0.09 0.08 .... 0.08

Aug 11 '20 0.10 0.09 .... 0.09

Aug 13 '20 0.09 0.08 .... 0.08

Aug 18 '20 0.09 0.08 -0.01 0.08

Aug 20 '20 0.10 0.09 .... 0.09

Aug 25 '20 0.09 0.08 -0.01 0.08

Aug 27 '20 0.10 0.09 .... 0.09

Sep 01 '20 0.10 0.09 .... 0.09

Sep 03 '20 0.10 0.09 -0.01 0.09

Sep 08 '20 0.10 0.09 -0.02 0.09

Sep 10 '20 0.09 0.08 -0.01 0.08

Sep 15 '20 0.10 0.09 -0.01 0.09

Sep 17 '20 0.10 0.09 -0.01 0.09

Sep 22 '20 0.10 0.09 -0.01 0.09

Sep 24 '20 0.10 0.09 -0.01 0.09

Sep 29 '20 0.10 0.09 .... 0.09

Oct 01 '20 0.10 0.09 -0.01 0.09

Oct 08 '20 0.10 0.09 -0.01 0.09

Oct 15 '20 0.10 0.09 -0.01 0.09

Oct 22 '20 0.10 0.09 -0.02 0.09

Oct 29 '20 0.10 0.09 -0.01 0.09

Nov 05 '20 0.10 0.09 -0.03 0.09

Nov 12 '20 0.11 0.10 -0.02 0.10

Nov 19 '20 0.10 0.09 -0.03 0.09

Nov 27 '20 0.11 0.10 -0.02 0.10

Dec 03 '20 0.11 0.10 -0.02 0.10

Dec 10 '20 0.11 0.10 -0.02 0.10

Dec 17 '20 0.11 0.10 -0.02 0.10

Dec 24 '20 0.10 0.09 -0.03 0.09

Dec 31 '20 0.11 0.10 -0.03 0.10

Jan 07 '21 0.11 0.10 -0.02 0.10

Jan 14 '21 0.11 0.10 -0.03 0.10

Jan 21 '21 0.11 0.10 -0.03 0.10

Jan 28 '21 0.11 0.10 -0.03 0.10

Feb 25 '21 0.11 0.10 -0.04 0.10

Mar 25 '21 0.10 0.09 -0.05 0.09

Apr 22 '21 0.11 0.10 -0.05 0.10

May 20 '21 0.12 0.11 -0.03 0.11

Jun 17 '21 0.12 0.11 -0.04 0.11

Jul 15 '21 0.12 0.11 -0.04 0.11

NYSEHALF-HOURLYVOLUME

Daily 7/27 7/28 7/29 7/30 7/31

9:30-10:00 132,014 105,889 120,405 131,597 131,407

10:00-10:30 49,867 47,599 52,632 58,697 60,940

10:30-11:00 38,999 35,412 44,440 43,666 46,213

11:00-11:30 35,276 34,371 37,702 40,857 42,691

11:30-12:00 30,635 30,884 32,220 33,300 35,540

12:00-12:30 24,869 28,034 30,353 30,213 31,534

12:30-1:00 23,274 24,223 25,418 23,409 29,409

1:00-1:30 22,057 24,648 24,874 24,655 26,577

1:30-2:00 24,236 22,521 25,070 23,585 27,158

2:00-2:30 25,431 28,467 29,321 28,182 26,600

2:30-3:00 25,755 28,108 35,984 49,172 35,357

3:00-3:30 31,232 36,242 45,049 37,297 37,230

3:30-4:00 326,160 278,594 356,040 301,409 774,384

AMERICANDEBTANDDEFICITS

Latest Preceding YearAgoYearoverYear

Report Report Report %Chg

FederalBudgetDeficit(bil.$)-a......................................... 1,068FY'21 1,101FY'20 1,092FY'19 ....

BudgetSurplus/Deficit(bil.$)-b,June.............................. –864.07 r-398.75 –8.48 10089.50

TradeDeficit(bil.$,sa)-c,May............................................ –54.60 r-49.76 –51.26 6.52

TreasuryGrossPublicDebt.(bil.$)-d............................... 26,520.4 26,491.8 22,022.4 20.42

TreasuryStatutoryDebtLimit(bil.$)-d............................. * 21,987.7 .... ....

ConsumerInstallmentDebt(bil.$)-e,May....................... 4,112.9 r4,131.1 4,087.6 0.62

Sources:a-OfficeofManagementandBudget,b-MonthlyTreasuryStatement,c-MonthlyCommerceDept.Report,d-DailyTreasury
Statement,e-MonthlyFederalReserveRelease.*StatutorydebtlimittemporarilysuspendedthroughJuly31,2021.