The Bureau of Labor Statistics (BLS) reported that the U.S. economy generated 206,000 new jobs in June, slightly above our forecast of 175,000 and the consensus of 190,000. June's increase in payrolls and revisions lower to results from May and April took the three-month average to 177,000, below the 12-month average of 220,000 and signaling a cooling job market that -- when combined with unemployment that is creeping higher -- should allow the Fed to reduce interest rates this year. The unemployment rate rose to 4.1% from 4.0%, and remains below the threshold for triggering the widely followed Sahm Rule recession indicator. The four-week average of initial jobless claims is 238,500, which remains well below the 300,000 that would trigger our concerns about a recession. Average hourly earnings increased 10 cents month to month and are 3.9% higher year over year (compared to 4.1% in May). The average workweek remained at 34.3 hours for a third consecutive month. Job gains occurred in government; healthcare; social assistance; and construction. Employment showed little or no change in mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; leisure and hospitality; and other services. Employment declined slightly in retail trade and in professional and business services. After this report, stock futures rose slightly from pre-release levels and the yield on the 10-year Treasury dropped to 4.32% from 4.34%. Before the release, futures contracts suggested a 73% probability that the Fed will reduce the funds target from the current 5.25%-5.50% when it meets in September. After the release, that ticked up to 75%. The chance of a second cut by the end of the year rose to 73% from 66%.

At midday Thursday, the major benchmarks are flat and trading feels tentative. Individual stocks are where the drama is. Micron Technology (MU) is lower after reporting earnings and saying it sees lower profits ahead than expected. International Paper (IP) is down as it is no longer an acquisition candidate of Brazilian paper company Suzano. Wall Street is waiting to see what happens with the first U.S. Presidential debate tonight. This is bringing up chatter on how the candidates stack up on inflation, rates, jobs, and other economic issues, and who might be better for driving stocks up. The Labor Department reported that jobless claims rose to nearly 1.84 million for the week ended June 22. Also, key inflation indicator, PCE, is due tomorrow morning.

The cold hard message is sinking in. Higher rates are here to stay for longer than expected. Federal Reserve Chairman Jerome Powell has said multiple times that the Fed will be 'data-driven' when deciding on monetary policy. And the data has spoken. First, let's look at inflation. There has been great progress made in knocking inflation down from its peak of 9.1% in June of 2022. But achieving progress at the current lower levels, with inflation in the low-3% range, as expected, has been difficult. The Fed has been specific, saying inflation needs to be at 2% before restrictive policy will be eased. The Fed was patient after the January inflation data, and again with February data. But when March showed persistently higher prices, the Fed threw came right out and said that change can wait. Chairman Powell said the following last week. "The recent data have clearly not given us greater confidence..." and "If higher inflation does persist, we can maintain the current level of restriction for as long as needed." Now let's consider unemployment. The Fed again has been specific. Officials are looking for a 4.1% unemployment rate to gently (hopefully) slow the economy. Currently, the rate is not budging and is vacillating between 3.8% and 3.9%. Given the current macroeconomic backdrop, the following is a list of industries and companies we like that should benefit from a sustained period of higher interest rates. All are BUY-rated at Argus.

In this edition, rental equipment companies haven't dug moats yet; homeowners are repairing remodel spending numbers; GE Vernova might power through the gap between position and performance; and Santos, Crown Castle, and Melrose Industries.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stock markets were mixed on Thursday morning following a slightly better-than-expected PPI reading. In March, U.S. headline PPI rose 0.2% after increasing 0.6% in February and 0.4% in January. Prices for final demand services advanced 0.3%, while goods prices declined 0.1%. This brings annual PPI to 2.1%, up from 1.6% last month. Core PPI rose 0.2% after advancing 0.3% in February. The annual core PPI rate now stands at 2.8%, up from 2.7% in February. Leading the increase in services was the index for securities brokerage and investment-related services, which rose 3.1% -- while prices for traveler accommodation services declined 3.8%. A major factor in the decrease for final demand goods was energy, which decreased 1.6% -- while food prices advanced 0.8%, led by a 10.7% increase for processed poultry. The Dow was down 0.4%, while the S&P 500 was flat and the Nasdaq was up 0.5%. Crude oil traded above $85 per barrel and gold rose $12 to $2360 per ounce.

In the final weeks of 2023, insiders took to the sidelines -- seemingly happy to ride out a successful year for stocks but also unwilling to take action that suggested a roaring start was in the offing for stocks in 2024. A mere week into the new year, and that positioning seems to be well founded. That said, there are many forces at play during the end-of-year and start-of-year changeover -- and we are not inclined to make major pronouncements based on current insider signals, or on the failed Santa Claus Rally, end-of year tax-loss selling, start-of-year capital-gains selling, etc., etc. But here are the current insider-sentiment numbers from Vickers Stock Research.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

On the recent 2Q earnings call, Lennar's Executive Chairman, Stuart Miller said that the "new normal" in the U.S. housing market includes higher mortgage rates and strong demand for affordable homes amid short supply. Prospective buyers are employed and confident they will remain employed. They have now adapted to "higher for longer" mortgage rates and are willing to buy or rent what they can afford, Mr. Miller said. The 30-year fixed mortgage rate rose to 7.19% yesterday, according to Freddie Mac, and hasn't been below 6.5% since May. Homebuilders are also adapting, but their confidence declined for a second month in September, with 32% of builders cutting prices (by an average of 6%) and 59% offering incentives according to a survey the National Association of Home Builders has conducted for over 35 years. Housing starts declined 14.8% year-over-year in August according to the Department of Housing and Urban Development. Yesterday, the National Association of Realtors reported that existing home sales for August declined 15.3% from prior-year levels to a seasonally adjusted annual rate of 4.04 million homes. Inventory remained slim at about a three-month supply. New-home sales for August will be released next Tuesday. We expect sales of 705,000 homes at an annual pace, which would be up 10.5% from August 2022. The S&P/Case-Shiller National Home Price Index for July will also be released on Tuesday. It was flat year-over-year in June against the prior year's record level. We don't expect a significant decline, when existing-home prices were up 3.9% in August according to yesterday's NAR report. Mr. Miller said Lennar has reduced prices 10%-11% from the peak, to approximately $448,999. He expects pricing to remain fairly constant. In this tumultuous housing market, Argus recommends Lennar, D.R. Horton and Toll Brothers, companies that are adapting to market conditions.

Stocks fell on Tuesday morning, led by declines in the Consumer Discretionary and Technology sectors, as investors remained cautious ahead of the Fed's interest rate announcement and economic commentary on Wednesday. On the IPO front, grocery delivery app Instacart set its initial price at $30, at the high end of its expected range. AutoZone shares were little changed after the parts retailer posted better-than-expected fiscal 4Q results. The Dow fell 0.6%, the S&P 0.6%, and the Nasdaq 0.9%. Crude oil rose 1% to $92.50 per barrel, while gold traded near $1955 per ounce.

Vickers Stock Research, a subsidiary of Argus Research Group, tracks and analyzes insider trading and institutional stock ownership trends. Institutions must file a Form 13F to report their holdings, and it is due 45 days after the end of calendar quarters. So these forms have now come in from 2Q23. We like to review the 13Fs of major activist investors, including Carl Icahn, Trian Fund Management, Jana Partners, and ValueAct Holdings, among others, in order to determine their core holdings and new purchases. Activist investing has evolved in recent years and is now less about generating a short-term return on an underpriced stock and more about achieving long-term returns through an active management/investor partnership. Activists have made progress in the past year with high-profile investments into companies such as Fedex and Union Pacific. According to Vickers, here are some recent new purchases and key holdings of activist investors, as well as other high-profile money managers such as Warren Buffet of Berkshire Hathaway and Ken Griffin of Citadel Advisors LLC.

Homebuilders increasingly are concerned about high mortgage rates, but they are adapting to fill a generational shortage that may exceed 1.5 million homes. Warren Buffett appears to see an opportunity too. Berkshire Hathaway purchased $800 million of homebuilder shares in 2Q, including D.R. Horton and Lennar. Builder confidence declined in August after seven months of improvement, according to a survey the National Association of Home Builders has conducted for over 35 years. The 30-year fixed mortgage rate hit 7.1% recently, up a percentage point since February and two points from last August, according to Freddie Mac. Unlike existing homeowners, who seem content to be on the sidelines and handcuffed to low mortgage rates, more than half of builders are offering incentives, including price reductions of about 6%, the NAHB survey found. On Tuesday, the National Association of Realtors will report existing home sales for July, which we expect to come in at a seasonally adjusted annual rate of 4.12 million homes, almost 16% below prior-year levels. We expect inventory to remain slim at about a three-month supply. New home sales will be released on Wednesday. We expect sales of 710,000 homes at an annual pace, which would be an increase of 31% YOY. The NAHB sees additional housing supply as a primary solution to taming inflation. Shelter accounted for 90% of the 3.2% increase in the July CPI. The S&P/Case-Shiller National Home Price Index for June will be released on August 29. It posted small year-over-year declines in April and May. With inventories tight and unemployment at 3.5%, we don't expect a significant decline in home prices. The Zillow Home Value Index was up 1.2% YOY in June and is up 1% in July. In this tumultuous housing market, Argus recommends builders that are adapting to market conditions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

We all have to live somewhere. Housing always is a topic of conversation, especially now, with interest rates elevated and more uncertainty ahead. Many economists opine on the state of the housing market but the bottom line is that the supply of homes is low and demand is high. Those homeowners with low interest rates want to keep them and don't want to move. The S&P Homebuilders Index is up 32% year-to-date, outperforming the broader S&P 500 index (which is up 16%). We see more runway for the homebuilders as the shortage of homes is not a short-term event. The lack of affordable housing comes from 10 years of underproduction, according to the National Association of Home Builders. The NAHB puts the deficit at 1.5 million residences as of February 2023. The association calls the lack of affordable housing a "crisis." Also, there currently are about 75 million Baby Boomers trying to age in place while 77 million Millennials are hitting the home-buying age. For sure, the spike in mortgage rates is hurting affordability. During this past 10-year period, we saw 30-year fixed-mortgage rates fluctuate very little, between a band of between 2%-5%. That has changed drastically in the past two years, as 30-year fixed-mortgage rates have skyrocketed from 2.7% in July 2021 to 6.7% in July 2023. Rents have remained high as well, making that option unattractive and keeping interest in owning homes high. Also, the jobs market has been strong, so consumers can afford to place a down payment. Given the current housing environment, here are some Argus Research BUY-rated stocks that we believe represent opportunities to invest in the housing sector.

Following Tuesday's consensus-topping report on Housing Starts and Building Permits, the Federal Reserve Bank of Atlanta Fed raised its GDPNow forecast for 2Q GDP to 1.9% from 1.8%. The forecast for real residential investment flipped to 2.2% growth from a 2.1% decline. Homebuilding last contributed to GDP growth in 1Q21. While permits were lower than last May on a seasonally-adjusted annual basis, starts and completions increased. On Monday, the National Association of Home Builders reported that the NAHB/Wells Fargo Housing Market Index surpassed 50 for the first time since July 2022. A reading above 50 indicates that more builders see conditions as good than poor. The NAHB's economist Robert Dietz offered the following: "Additional housing supply is good news for inflation data, because more inventory will help to reduce shelter inflation, which is now a leading source of growth for the CPI." The National Association of Realtors announced that existing home sales in May rose 0.2% from April, to 4.3 million at a seasonally adjusted annual rate. Sales were down 20.4% from May 2022. The inventory of existing homes remained low, at just 3.0 months, but it did increase slightly from both April and a year ago. The NAR reported that home prices in May declined 3.1% year-over-year to $396,100. The widely followed S&P/Case-Shiller National Home Price Index edged higher in February and March, after notching seven straight monthly declines. The average price was still up 0.7% on a year-over-year basis in March. In this tumultuous housing market, Argus recommends homebuilders including D.R. Horton, Lennar and Toll Brothers, who are adapting to market conditions and a shortage of supply.

Stocks rose on Thursday following new retail sales and weekly employment data. The rally came despite signs from the Fed that it would raise interest rates two more times this year after its pause on Wednesday. The Commerce Department reported that retail sales rose a better-than-expected 0.3% in May, helped by strong sales of automobiles, building materials, and garden equipment. On the employment front, first-time claims for state unemployment benefits were unchanged at a seasonally adjusted 262,000 for the week ended June 10, above the consensus forecast of 249,000. Continuing claims rose by 20,000 to 1.775 million. The Dow rose 1.26%, the S&P 1.22%, and the Nasdaq 1.15%. Crude oil rose more than 3% to $70.50 per barrel, while gold traded near $1970 per ounce.

It is a massive week for tech stocks and the overall market, with GOOGL, MSFT, META, AMZN, TXN, KLAC, NOW, SPOT and others reporting Tuesday through Thursday. Also stepping up to the plate will be KO, PEP, MCD, WHR, UPS, MRK, CAT, CMG, BA,V, MA, FSLR, XOM, and GE. This likely will be the largest market-cap week of the EPS season.

High prices and interest rates have frozen millions of prospective homebuyers out of the market, but there are some green shoots as we enter the spring selling season. The National Association of Realtors reported that existing home sales ended a 12-month slump in February, jumping 14.5% from January to 4.6 million at a seasonally adjusted annual rate. Sales were still down 22.6% from February 2022. The Commerce Department reported that new one-family homes were selling at a 670,000 a year pace in January, up 7.2% from December but down 19.4% from 831,000 a year earlier. Meanwhile, a leading indicator for the industry, housing permits, posted a 13.8% month-over-month gain in February -- but the 1.52 million permits in February were down 17.9% from February 2022. Housing prices are finally starting to cool. The S&P/Case-Shiller National Home Price Index for December 2022 notched a sixth straight monthly decline. The average price was still up 5.8% year-over-year. The National Association of Realtors reported that home prices in February ended a 131-month run of year-over-year increases with a 0.2% decline to $363,000. The 30-year fixed-rate mortgage recently eased to 6.6% from a November 2022 peak near 7%, but it is still too high for many. Homebuilder Lennar reported that interest rates and sticker shock continued to constrain sales in December, while lower interest rates energized sales in January and early February. The National Association of Home Builders reported that builder sentiment rose by two points in March, to 44, a third consecutive increase. While it is too early to tell if this is a turning point, it seems clear the housing sector will not boost U.S. economic growth until pricing pressures and mortgage rates ease.

In this edition, Entergy Offers Superior Combination of Growth, Yield, and Value; For Traditional and Alternative Asset Managers, Volatility Seems Temporary; 2023 Shaping Up to Be Another Great Year for Refiners; and Lithia Motors, Lennar, and Dollar General

Stocks reversed their losses amid a Wall Street article that implied that some buyers are considering buying First Republic. Meanwhile, the European Central Bank raised its deposit rate from 2.5% to 3% while stating that inflation is projected to remain too high for too long. On the positive side, new economic data surpassed expectations with initial claims dropping from 212,000 to 192,000 claims while housing starts and building permits both rose more than projected to 1.45 million and 1.52 million respectively. The Dow rose 0.6%, the S&P 1.2%, and the Nasdaq 1.8%. Crude oil traded near $67 per barrel, while gold fell $93 to $1921 per ounce.

Based on a chart since mid-December, the S&P 500 looks like a ping-pong ball. The index has bounced between 3,764 and 3,890, a band of a little more than 3%. That could have a lot to do with the time of year, as many spend time stuck in an airport (or maybe actually with their families) and turn off the trading machines. But a tight range can also suggest there is a lot of indecision about the coming year -- and it would be hard to argue with that. The only certainty about the new year is uncertainty based on all types of stock-market analysis.

With the holiday season now in full swing, trading volume will start to slow and then will become extremely light as the final trading day of the year approaches. But on the economic front, there is a massive amount of data still to be released in 2022. This week, reports include updates on inflation, housing, economic growth, and consumer confidence. Among the surge of data, the most-important releases may be those related to PCE and GDP. Earnings reports this week come from Nike, General Mills, and FedEx, among others. The stock market starts the week facing negative momentum. A sour mood is growing in correlation with increased fears that the U.S. economy is likely to fall into recession. Last week, the Dow Jones Industrial Average fell 1.7%, the S&P 500 shed 2.1%, and the Nasdaq dropped 2.7%. Year-to-date, the DJIA is down 9%, the S&P 500 is off 19%, and the Nasdaq is lower by 32%.

With only 14 trading days left in 2022, the S&P 500 is down 17.5%, the Nasdaq is off 30%, the Nasdaq 100 has lost 29%, the NYSE has given up 11%, the Dow Industrials are lower by (only) 8%, the S&P 400 has declined 13%, and the Russell 2000 has given back 19%.

Most sentiment indicators continue to show an extremely bearish investment community, from individuals, to hedge funds, to institutions, to strategists, to anybody else in this business. There are a few steadfast bulls, but they always find evidence for higher prices. The perma-bulls have been correct since the beginning of the stock market; they just get smashed during extended down periods and bear markets.

Stocks continued to drop on Friday morning on interest rate and recession fears, led by sharp declines in the Energy, Materials, and Consumer Discretionary sectors. Goldman Sachs cut its year-end target for the S&P 500 by 16% to 3,600, citing a higher than previously expected path for interest rates. On the earnings front, Costco posted better-than-expected fiscal 4Q results, though the shares fell on concerns about declining gross margins. The Dow fell 1.4%, the S&P 1.7%, and the Nasdaq 1.9%. Crude oil dropped more than 5% to $79 per barrel, while gold traded near $1653 per ounce.

Stocks continued to drop on Friday morning on interest rate and recession fears, led by sharp declines in the Energy, Materials, and Consumer Discretionary sectors. Goldman Sachs cut its year-end target for the S&P 500 by 16% to 3,600, citing a higher than previously expected path for interest rates. On the earnings front, Costco posted better-than-expected fiscal 4Q results, though the shares fell on concerns about declining gross margins. The Dow fell 1.4%, the S&P 1.7%, and the Nasdaq 1.9%. Crude oil dropped more than 5% to $79 per barrel, while gold traded near $1653 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks rose modestly in volatile trading on Wednesday morning, led by the Healthcare and Real Estate sectors. Appearing before the Senate Banking Committee, Fed Chair Jerome Powell reiterated the central bank's 'overarching focus' on controlling inflation and said that the Fed would need to be 'nimble' in responding to new economic data. The Dow rose 0.1%, the S&P 0.2%, and the Nasdaq 0.4%. Crude oil dropped more than 3% to $106 per barrel, while gold rose $3 to $1841 per ounce.

Stocks are mostly higher Friday morning. Meanwhile, cryptos are mixed. Existing Home Sales were lower than expected in February, slowing to an annualized rate of 6.02 million homes sold. The Dow fell 0.2%, the S&P rose 0.3%, and the Nasdaq was up 1%. Crude oil traded at $103 per barrel, while gold fell $7 to $1936 per ounce.

The stock market moved lower last week as the Fed accelerated QE and Omicron cases surged. Blue chips outperformed tech stocks by a sizeable margin as investors were in a risk-off mode on every day except Friday. During Friday's session, the Dow Jones Industrial Average fell 532 points, or 1.48%. The S&P 500 was down 1.03%, and the Nasdaq Composite was down 0.07%. For the week, the DJIA was down 606 points, or 1.68%, the S&P 500 was down 1.94%, and the Nasdaq Composite was down 2.95%. Year-to-date, the DJIA is up 15.55%, the S&P 500 is up 23.02%, and the Nasdaq Composite is up 17.70%.

The stock market performed well last week despite opening Monday on a bad note. Blue chips outperformed tech stocks by a slim margin during a week that featured FOMC commentary. During Friday's session, the Dow Jones Industrial Average increased 33 points, or 0.10%. The S&P 500 was up 0.15%, and the Nasdaq Composite was down 0.03%. For the week, the DJIA was up 213 points, or 0.62%, the S&P 500 was up 0.51%, and the Nasdaq Composite was up 0.02%. Year-to-date, the DJIA is up 13.69%, the S&P 500 is up 18.62%, and the Nasdaq Composite is up 16.75%.

This edition features potential healthcare policy changes; a quarterly housing outlook; Costco's pricey shares; and notes from DocuSign, Wells Fargo, and new coverage Rocket Cos.

The stock market moved mostly lower last week, as blue chips were battered by Fed commentary while technology stocks outperformed. During Friday's session, the Dow Jones Industrial Average fell 533 points, or 1.58%. The S&P 500 was down 1.91%, and the Nasdaq Composite was down 0.92%. For the week, the DJIA was down 1190 points, or 3.45%, the S&P 500 was down 1.91%, and the Nasdaq Composite was down 0.28%. Year-to-date, the DJIA is up 8.77%, the S&P 500 is up 10.93%, and the Nasdaq Composite is up 8.86%.

The U.S. housing market has been a positive contributor to the economic recovery, though some statistics have dropped from recent highs. The National Association of Realtors reported that existing home sales fell in April to a 5.85 million seasonally adjusted annual rate -- still well above the 3.9 million rate in May 2020. The Commerce Department reported that new home sales, which were down 33% in April 2020 from January 2020, recovered to 10-year-high levels of more than 1 million sales per year last August and remained elevated at an 863,000 rate in April. As well, building permits were up 70% in April 2021 compared to April 2020, according to the Census Bureau. Though most of these indicators have cooled, housing prices have not. The S&P/Case-Shiller National Home Price Index for March 2021 showed that prices gained 13.2% year-over-year, the highest gain in 15 years. Meanwhile, inventory levels are tight, according to the U.S. Census Bureau. On the other side of the pandemic, we think demand for homes, with yards between neighbors and plenty of space, will remain solid, supporting economic growth.

The U.S. housing market has been a positive contributor to the economic recovery, though some statistics have dropped from recent highs. The National Association of Realtors reported that existing home sales fell in April to a 5.85 million seasonally adjusted annual rate -- still well above the 3.9 million rate in May 2020. The Commerce Department reported that new home sales, which were down 33% in April 2020 from January 2020, recovered to 10-year-high levels of more than 1 million sales per year last August and remained elevated at an 863,000 rate in April. As well, building permits were up 70% in April 2021 compared to April 2020, according to the Census Bureau. Though most of these indicators have cooled, housing prices have not. The S&P/Case-Shiller National Home Price Index for March 2021 showed that prices gained 13.2% year-over-year, the highest gain in 15 years. Meanwhile, inventory levels are tight, according to the U.S. Census Bureau. On the other side of the pandemic, we think demand for homes, with yards between neighbors and plenty of space, will remain solid, supporting economic growth.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This edition features our U.S. housing outlook; smarter hydrogen investing; Swatch's prospects in a pricey luxury market; and notes from Johnson & Johnson, Schwab, and AMD.

Stocks were mixed on Thursday morning amid a new increase in Treasury yields, a day after the Federal Reserve said that it would keep interest rates unchanged and downplayed risks about rising inflation as the economy recovers. On the employment front, the Labor Department said that first-time claims for state unemployment benefits rose to 770,000 for the week ended March 13, up from 725,000 a week earlier and above the Bloomberg consensus forecast of 700,000. The Dow rose 0.2%, the S&P fell 0.6%, and the Nasdaq fell 1.7%. Crude oil fell more than 2% to $63 per barrel, while gold traded near $1723 per ounce.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.