Market Updates at 11:30

Shares of Sherwin-Williams (SHW) are up about 3% this morning. I suspect it has to do with Lennar’s earnings report. The homebuilder beat expectations, and this may suggest that the damage from the storms wasn’t as bad as expected. SHW is up to a new high today. The stock is now up 38% YTD for us.

Shares of HEICO (HEI) are trading lower today. I think that’s due to a downgrade from Zacks.

There were two good economic reports yesterday. The first was the very good ISM. The ISM for September came in at 60.8. That’s the strongest number since 2004. Wall Street had been expecting 58.0. This tells us that the manufacturing sector is still healthy.

Also, the Census Bureau said that construction spending rose 0.5% in August. Construction spending is up 2.5% in the last year.

Posted by on October 3rd, 2017 at 11:34 am


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