Early Market Notes

Here are a few notes to pass along this morning.

The Employment Cost Index report this morning was a dud. Last quarter, workers got the smallest pay increase on record.

The 0.2 percent advance was the smallest since records began in 1982 and followed a 0.7 percent increase in the first quarter, the Labor Department said Friday. The agency’s employment cost index, which also includes benefits, also rose 0.2 percent in the second quarter from the prior three months.

The December rate hike odds are down today to 55.74% from 63.89% yesterday.

Chevron (CVX) and Exxon (XOM) both reported terrible earnings. Chevron’s profits dropped 90%. It was their worst profit in 13 years. Exxon cut their share repurchase program in half. Both stocks are in the Dow and that index has continued to lag the S&P 500.

Moog (MOG-A) has so far responded well to today’s earnings report. It’s been as high as $66.96 per share.

Both Hormel Foods (HRL) and Snap-on (SNA) hit new 52-week highs this morning.

This article is a “must-read” for all Ford (F) shareholders.

Posted by on July 31st, 2015 at 10:17 am

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