Art Hogan’s Week in Review – April 19, 2019

April 19, 2019

The market has spent the front end of the first quarter earnings season moving sideways, and that’s OK. The S&P 500 has been in a 1 percent range for two weeks.  US stocks ended the holiday week higher. The Dow Jones Industrials were better by 181 points or 0.69%. The S&P 500 opened and closed the week at 2905, and the Nasdaq added 19 points or 0.24%.  The smalls were hit over the course of the week as we saw the Russell 2000 shed 18 points or 1.14%. The earnings news can so far be characterized as mixed and better than feared.

Highlights for the week:

A tragic fire nearly completely destroyed the 850 year old Notre Dame cathedral in Paris.

Apple and Qualcomm have settled a royalty and patent dispute that had been filed by Apple in early 2017. Qualcomm shot higher by 37% following the news.

Healthcare stocks caught a Medicare-for-all induced stomach virus, sending the sector down 4.53% for the week.

While the sample set is still small, 79% of the S&P 500 companies that have reported calendar first-quarter earnings have topped analyst expectations, with 55% beating on sales.

It was a busy week for IPO’s and so far so good with the headliners doing well out of the gate. Both ZOOM and Pinterest traded higher on their first day.

Retail sales in the US rose by 1.6% last month, the strongest since September 2017

Earnings for the week of 4-15:

142 S&P 500 earnings next week, including: Kimberly-Clark, Whirlpool, Coke, Lockheed, P&G, Verizon, UTX, Hasbro, Harley, Twitter, JetBlue, eBay, AT&T, Boeing, Cat, Norfolk, Domino’s, Facebook, Microsoft, PayPal, Tesla, Visa, Chipotle, 3M, Comcast, UPS, Southwest, Amazon, Ford, Starbucks, Mattel, Chevron and Sony

 

The views and opinions expressed herein are those of the analyst Arthur Hogan and are current as of this report’s posting date. This commentary is general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Neither Art Hogan nor National Securities Corporation is affiliated with the issuers mentioned herein, and no part of this analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in the report. The views & and strategies may not be suitable for all investors and is are not intended to be relied on for legal or tax advice. Please note that any investment involves risk including loss of principal.