Barron's - USA (2020-10-19)

M32 BARRON’S October 19, 2020

Market Laboratory

DOWJONESU.S.TOTALMARKETINDUSTRYGROUPS

NetChange %ChangeandRanking 52Week

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

Toys DJUSTY 1278.41 + 39.59 310.37 +3.20 [1] +38.31 [19] +32.06 [16] +8.80 1,291.14 765.22

Asset Managers DJUSAG 206.56 + 6.39 3.07 +3.19 [2] +15.94 [52] +1.51 [71] –1.55 213.48 120.75

Containers & Packaging DJUSCP 439.22 + 12.97 36.35 +3.04 [3] +16.49 [49] +9.02 [51] +3.39 439.22 259.31

Leisure Goods DJUSLE 855.33 + 23.77 205.78 +2.86 [4] +40.78 [17] +31.68 [17] +10.09 863.67 491.25

Drug Retailers DJUSRD 673.42 + 16.69–170.29 +2.54 [5] –16.08 [112] –20.18 [112] –11.79 895.26 630.98

Commercial Vehicles DJUSHR 2523.64 + 60.01 359.73 +2.44 [6] +29.21 [27] +16.62 [32] +9.94 2,523.64 1,301.27

General Industrials DJUSGI 447.26 + 10.22 –11.55 +2.34 [7] +8.28 [73] –2.52 [87] –4.79 477.63 284.40

Publishing DJUSPB 453.89 + 9.50 14.79 +2.14 [8] +11.17 [61] +3.37 [64] +12.84 472.95 273.74

Furnishings DJUSFH 315.27 + 6.42 –42.76 +2.08 [9] –3.43 [96] –11.94 [101] –11.17 388.28 151.80

Diversified Industrials DJUSID 460.54 + 9.38 –30.61 +2.08 [10] +5.50 [77] –6.23 [92] –7.10 516.01 300.69

Internet DJUSNS 2497.03 + 50.29 574.66 +2.06 [11] +38.44 [18] +29.89 [22] +17.73 2,709.71 1,473.18

Marine Transportation DJUSMT 129.00 + 2.59–164.88 +2.05 [12] –51.43 [137] –56.10 [137] –15.55 300.12 112.26

Specialized Consumer Svcs DJUSCS 2072.43 + 39.47 299.58 +1.94 [13] +15.91 [53] +16.90 [31] +17.76 2,072.43 1,129.85

Automobiles DJUSAU 562.93 + 10.55 350.18 +1.91 [14] +214.48 [1] +164.59 [1] +34.14 612.05 134.39

Food & Drug Retailers DJUSDR 777.76 + 14.21 51.80 +1.86 [15] +10.49 [66] +7.14 [53] +11.30 777.76 607.13

Computer Hardware DJUSCR 5890.75 + 99.572,053.89 +1.72 [16] +89.93 [3] +53.53 [5] +38.22 6,577.88 2,859.07

Food Retailers & Whlslrs DJUSFD 609.50 + 10.21 86.85 +1.70 [17] +19.46 [41] +16.62 [33] +25.20 609.50 449.13

Software & Computer Svcs DJUSSV 3933.47 + 64.371,015.51 +1.66 [18] +46.27 [14] +34.80 [14] +26.04 4,123.93 2,332.65

Automobiles & Parts DJUSAP 683.46 + 10.90 349.68 +1.62 [19] +133.56 [2] +104.77 [2] +22.01 726.70 195.90

Investment Svcs DJUSSB 1206.95 + 19.24 –63.01 +1.62 [20] +3.49 [83] –4.96 [91] +2.55 1,337.62 797.58

NetChange %ChangeandRanking 52Week

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

Automobiles DJUSAU 562.93 + 10.55 350.18 +1.91 [14] +214.48 [1] +164.59 [1] +34.14 612.05 134.39

Automobiles & Parts DJUSAP 683.46 + 10.90 349.68 +1.62 [19] +133.56 [2] +104.77 [2] +22.01 726.70 195.90

Computer Hardware DJUSCR 5890.75 + 99.572,053.89 +1.72 [16] +89.93 [3] +53.53 [5] +38.22 6,577.88 2,859.07

Nonferrous Metals DJUSNF 229.41 – 1.07 53.91 –.46 [89] +80.53 [4] +30.72 [19] +3.95 230.48 71.03

Broadline Retailers DJUSRB 3311.75 – 5.061,291.61 –.15 [84] +70.21 [5] +63.94 [3] +41.49 3,520.79 1,791.13

Technology Hardware & Equip DJUSTQ 2910.15 + 34.07 780.88 +1.18 [29] +60.01 [6] +36.67 [10] +27.87 3,051.15 1,580.41

Software DJUSSW 4317.36 + 64.941,273.66 +1.53 [21] +57.39 [7] +41.85 [7] +36.23 4,446.11 2,522.55

Delivery Svcs DJUSAF 1483.17 + 20.97 537.26 +1.43 [23] +57.29 [8] +56.80 [4] +12.23 1,483.17 666.48

Gold Mining DJUSPM 140.58 – .14 37.31 –.10 [83] +53.25 [9] +36.13 [12] +18.30 159.08 87.77

General Retailers DJUSGT 2269.27 + 3.05 715.47 +.13 [72] +50.18 [10] +46.05 [6] +31.95 2,345.51 1,258.95

Semiconductor DJUSSC 5646.58 + 35.891,333.14 +.64 [53] +49.65 [11] +30.91 [18] +22.59 5,712.00 3,082.27

Mining DJUSMG 130.44 – .13 33.65 –.10 [82] +49.53 [12] +34.76 [15] +15.06 147.36 81.60

Specialty Retailers DJUSRS 2432.52 + 8.63 687.14 +.36 [63] +47.45 [13] +39.37 [9] +28.91 2,476.82 1,335.92

Software & Computer Svcs DJUSSV 3933.47 + 64.371,015.51 +1.66 [18] +46.27 [14] +34.80 [14] +26.04 4,123.93 2,332.65

Recreational Products DJUSRP 493.07 + 4.85 114.20 +.99 [34] +45.56 [15] +30.14 [20] +11.37 509.54 216.09

Retail DJUSRT 1968.92 + 5.69 575.52 +.29 [67] +45.35 [16] +41.30 [8] +28.93 2,022.70 1,135.92

Leisure Goods DJUSLE 855.33 + 23.77 205.78 +2.86 [4] +40.78 [17] +31.68 [17] +10.09 863.67 491.25

Internet DJUSNS 2497.03 + 50.29 574.66 +2.06 [11] +38.44 [18] +29.89 [22] +17.73 2,709.71 1,473.18

Toys DJUSTY 1278.41 + 39.59 310.37 +3.20 [1] +38.31 [19] +32.06 [16] +8.80 1,291.14 765.22

Specialty Finance DJUSSP 393.93 – 1.47 65.03 –.37 [87] +33.29 [20] +19.77 [26] +26.30 412.04 230.56

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

ComingEarnings

Day Consensus Year

Estimate Ago

Continuedfrompage15ofthemainsection.

T

Procter&Gamble(Q1) 1.41 1.37

TexasInstruments(Q3) 1.27 1.49

Travelers(Q3) 3.19 1.43

W

AutoNation(Q3) 1.58 1.11

Biogen(Q3) 8.19 9.17

ChipotleMexicanGrill(Q3) 3.38 3.82

CSX(Q3) 0.92 1.08

Equifax(Q3) 1.60 1.48

LamResearch(Q1) 5.20 3.18

Nasdaq(Q3) 1.45 1.27

NextEraEnergy(Q3) 2.58 2.39

NorthernTrust(Q3) 1.38 1.69

SLGreen(Q3) 1.55 1.75

Tesla(Q3) 0.55 0.37

Verizon (Q3) 1.21 1.25

Whirlpool(Q3) 3.68 3.97

TH

AlaskaAirGroup(Q3) -3.04 2.63

AmericanElectricPower(Q3) 1.46 1.46

AT&T(Q3) 0.77 0.94

BostonBeer(Q3) 4.58 3.65

Dow(Q3) 0.28 0.91

Intel(Q3) 1.10 1.42

NorthropGrumman(Q3) 5.63 5.49

QuestDiagnostics(Q3) 3.68 1.76

Snap-On(Q3) 2.16 2.96

TheCoca-Cola(Q3) 0.46 0.56

UnionPacific(Q3) 2.03 2.22

ValeroEnergy(Q3) -1.18 1.48

F

AmericanExpress(Q3) 0.45 2.08

Bloomin’Brands(Q3) -0.33 0.10

(Earningsaredilutedandreportdatesaretentative. Allfore-

castsandhistoricalnumbersexcludeextraordinaryitemsby

accountingdefinitions.)

Source:FactSet

SELECTEDINITIALPUBLICOFFERINGS

Initial Most

Ticker Offer IPO Recent %

Code Price Date Price Chg

AligosTherapeutics ALGS 15.00 10/16 14.85 -1.0%

BridgetownHoldingsBTWNU 10.00 10/16 10.04 0.4%

Eargo EAR 18.00 10/16 33.68 87.1%

KiromicBioPharma KRBP 12.00 10/16 11.50 -4.2%

Opthea OPT 13.50 10/16 12.30 -8.9%

PraxisPrecisionMed PRAX 19.00 10/16 27.80 46.3%

SpartacusAcquisitionTMTSU 10.00 10/16 9.94 -0.6%

TarsusPharma TARS 16.00 10/16 20.58 28.6%

TurmericAcquisition TMPMU 10.00 10/16 10.04 0.4%

ArrayTechnologies ARRY 22.00 10/15 38.95 77.0%

EasternBankshares EBC 10.00 10/15 11.91 19.1%

MINISOGroupHoldingMNSO 20.00 10/15 23.18 15.9%

MotionAcquisition MOTNU 10.00 10/15 9.86 -1.4%

5:01Acquisition FVAM 10.00 10/14 10.04 0.4%

CodiakBioSciences CDAK 15.00 10/14 12.10 -19.3%

Onlyincludesnewreports. Latest Latest Preceding Year YroYr

EconomicGrowthandInvestment Date Data Period Ago %Chg

Durable manufacturing (NAICS) a, ................................................ Sept 100.2 r100.7 108.0 –7.22

Capacity utilization % .................................................................... Sept 71.5 r72.0 77.5 –7.74

Industrial output a, ........................................................................ Sept 101.5 r102.2 109.6 –7.39

Manufacturing (NAICS) a, ............................................................. Sept 99.6 r99.9 105.8 –5.86

Nondurable manufacturing (NAICS) a............................................ Sept 99.0 r99.1 103.5 –4.35

Production

Electric power, (mil. kw hrs) (EEI) .................................................. Oct 10 69,806 70,736 70,459 –0.93

Mining (NAICS) a, ......................................................................... Sept 113.9 r112.0 133.0 –14.36

Petroleum, related capacity, % ...................................................... Oct 9 75.1 77.1 83.1 –9.63

Rotary rigs running, U.S. & Can., (Hughes).................................... Oct 16 362 349 994 –63.58

Steel, (thous. tons)........................................................................ Oct 10 1,502 1,484 1,821 –17.52

Steel, rated capacity, % (AISI)........................................................ Oct 10 67.9 66.6 78.7 –13.72

Utilities a ....................................................................................... Sept 99.6 r105.5 106.6 –6.57

ConsumptionandDistribution

Business sales, (mil. $) ................................................................. Aug 1,452.43 r1,443.47 1,458.48 –0.41

Instinet Research Redbook Avg. (monthly %)................................ Oct 10 0.37 –0.04 0.28 ....

Baltic Dry Index ............................................................................. Oct 15 1,561 1,970 1,855 –15.85

Retail store sales, (bil. $) ............................................................... Sept 549.26 r538.98 521.34 5.36

Inventories

Business inventories, (bil. $) ......................................................... Aug 1,919.15 r1,914.15 2,030.69 –5.49

Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) ........... Oct 9 489,109 492,927 434,850 12.48

Gasoline, (thous. bbls) .................................................................. Oct 9 225,121 226,747 226,201 –0.48

Latest Latest Preceding Year YroYr

Date Data Period Ago %Chg

PULSEOFTHEECONOMY

Inventory–to–sales ratio (Business) .............................................. Aug 1.32 1.33 1.39 –5.04

Orders

No Activity for this Week

Trade

No Activity for this Week

Inflation

JOC–ECRI Industrial Price Index f.................................................. Oct 16 94.77 91.85 88.83 6.69

Consumer price index b (unadjusted) ............................................ Sept 260.3 259.9 256.8 1.36

Producer price index (finished goods) c......................................... Sept 203.0 202.6 204.4 –0.68

Rate of inflation, % (annual, unadjusted)........................................ Sept 1.4 1.3 1.7 ....

Employment

Initial jobless claims (thous.) ........................................................ Oct 10 898 r845 218 311.93

Continuing claims (mil.) ................................................................ Oct 3 10.018 r11.183 1.689 493.13

Small Business Optimism Index .................................................... Sept 104.0 100.2 101.8 2.16

Construction

Building contracts, F.W. Dodge, (bil. $).......................................... Sept 667.73 r815.71 784.01 –14.83

OtherIndicators

Citi Research Panic–Euphoria Reading .......................................... Oct 16 0.69 r0.53 –0.12 ....

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

US TREASURY BILLS

Wkly Ask

Maturity Bid Asked Chg. Yld.

Oct 20 '20 0.08 0.07 -0.01 0.07

Oct 22 '20 0.08 0.07 -0.01 0.07

Oct 27 '20 0.09 0.08 0.01 0.08

Oct 29 '20 0.09 0.08 .... 0.08

Nov 03 '20 0.09 0.08 .... 0.08

Nov 05 '20 0.10 0.09 0.01 0.09

Nov 10 '20 0.09 0.08 .... 0.08

Nov 12 '20 0.09 0.08 .... 0.08

Nov 17 '20 0.10 0.09 0.01 0.09

Nov 19 '20 0.10 0.09 .... 0.09

Nov 24 '20 0.10 0.09 0.01 0.09

Nov 27 '20 0.10 0.09 .... 0.09

Dec 01 '20 0.10 0.09 0.01 0.09

Dec 03 '20 0.10 0.09 .... 0.09

Dec 08 '20 0.10 0.09 .... 0.09

Dec 10 '20 0.10 0.09 -0.01 0.09

Dec 15 '20 0.10 0.09 .... 0.09

Dec 17 '20 0.10 0.09 0.01 0.09

Dec 24 '20 0.10 0.09 -0.01 0.09

Dec 31 '20 0.11 0.10 0.01 0.10

Jan 07 '21 0.11 0.10 .... 0.10

Jan 14 '21 0.11 0.10 .... 0.10

Jan 21 '21 0.11 0.10 .... 0.10

Jan 28 '21 0.11 0.10 0.01 0.10

Feb 04 '21 0.11 0.10 .... 0.10

Feb 11 '21 0.11 0.10 .... 0.10

Feb 18 '21 0.12 0.11 0.01 0.11

Feb 25 '21 0.11 0.10 0.01 0.10

Mar 04 '21 0.11 0.10 0.01 0.10

Mar 11 '21 0.11 0.10 .... 0.10

Mar 18 '21 0.10 0.09 -0.02 0.09

Mar 25 '21 0.11 0.10 -0.02 0.10

Apr 01 '21 0.12 0.11 .... 0.11

Apr 08 '21 0.12 0.11 -0.02 0.11

Apr 15 '21 0.12 0.11 .... 0.11

Apr 22 '21 0.11 0.10 -0.01 0.10

May 20 '21 0.11 0.10 -0.02 0.10

Jun 17 '21 0.11 0.10 -0.01 0.10

Jul 15 '21 0.11 0.10 -0.02 0.10

Aug 12 '21 0.11 0.10 -0.01 0.10

Sep 09 '21 0.12 0.11 -0.01 0.11

Oct 07 '21 0.13 0.12 -0.02 0.12

NYSEHALF-HOURLYVOLUME

Daily 10/12 10/13 10/14 10/15 10/16

9:30-10:00 107,935 115,077 104,389 116,290 164,506

10:00-10:30 37,309 45,814 48,731 47,246 46,841

10:30-11:00 32,228 40,370 36,747 38,490 38,505

11:00-11:30 29,154 31,287 36,778 34,984 38,193

11:30-12:00 24,432 30,049 37,378 33,341 28,820

12:00-12:30 21,177 22,402 31,807 22,639 27,463

12:30-1:00 20,312 23,702 24,261 23,560 24,459

1:00-1:30 18,297 24,516 23,646 25,714 22,795

1:30-2:00 18,383 20,390 25,469 23,135 25,792

2:00-2:30 24,555 23,795 25,131 23,221 23,286

2:30-3:00 25,058 29,530 26,012 26,051 26,498

3:00-3:30 31,040 29,762 31,096 31,273 33,514

3:30-4:00 355,030 318,684 311,813 303,278 384,637

AMERICANDEBTANDDEFICITS

Latest Preceding YearAgoYearoverYear

Report Report Report %Chg

FederalBudgetDeficit(bil.$)-a......................................... 920FY'22 966FY'21 1,083FY'20 ....

BudgetSurplus/Deficit(bil.$)-b,September.................. –124.61 r-200.01 +82.77 -250.55

TradeDeficit(bil.$,sa)-c,August...................................... –67.10 r-63.37 –50.78 32.14

TreasuryGrossPublicDebt.(bil.$)-d............................... 27,057.9 27,053.0 22,897.8 18.17

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

ConsumerInstallmentDebt(bil.$)-e,August................. 4,144.7 r4,151.9 4,139.8 0.12

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