Week Ahead

AP

Housing market bellwetherNew government data on residential construction should provide insight into the state of the new-home market.

The Commerce Department is expected to report Wednesday that builders broke ground on new apartments and single-family homes at a slower pace in December than in the previous month. The pace of U.S. home construction accelerated in November amid continued strong demand, though supply chain snarls have led to construction delays.

Binge thisNetflix serves up its latest quarterly report card Thursday.

Wall Street predicts the video streaming giant’s earnings declined and its revenue rose in the October-December quarter versus the same period in 2020. That would be a mixed finish to the year after posting profit and revenue growth the previous three quarters. Investors will be listening for an update on Netflix’s subscriber tally and its foray into video game streaming.

Economic barometerA gauge of the U.S. economy’s future health is expected to have improved last month.

Economists expect that the Conference Board will report Friday that its index of leading economic indicators rose 0.8% in December. That would follow an increase of 1.1% the previous month. The index, derived from data that for the most part have already been reported individually, is designed to anticipate economic conditions three to six months out.

Leading indicators seasonally adjusted percent change

0.0

0.4

0.8

1.2

DNOSAJ

est.0.8

2021Source: FactSet

0.90.8

Housing startsseasonally adjusted annual rate

Source: FactSet

0.0

0.5

1.0

1.5

2.0 million

DNOSAJ

est.1.66

2021

1.681.56 1.57 1.501.55

0.9

1.1

0.3

4,200

4,300

4,400

4,500

4,600

4,700

4,800

J JA S O N D

4,560

4,700

4,840 S&P 500Close: 4,662.85Change: 3.82 (0.1%)

10 DAYS

14,000

14,500

15,000

15,500

16,000

16,500

J JA S O N D

14,520

15,200

15,880 Nasdaq compositeClose: 14,893.75Change: 86.94 (0.6%)

10 DAYS

Money&Markets

NYSE NASD

YTD HI GH LOW CLOSE CHG %CHG %CHGStocksRecap

Interestrates

The yield on the 10-year Treasury note rose to 1.77% Friday. Yields affect rates onmortgages and other consumer loans.

NET 1YRTREASURIES LAST PVS CHG WK MO QTR AGO

FEDFUNDS

NAT'L WK 6MO 1YRCONSUMER RATES AVG AGO AGO AGO

PRIMERATE

YEST6 MO AGO1 YR AGO

ArcBest Corp ARCB 45.94 6 125.00 90.76 -.87 -0.9 -24.3 +99.8 542 34 .32

Bco Santander SA SAN 2.92 6 4.38 3.69 +.09 +2.5 +12.2 +6.6 8914 .04e

Bk of NY Mellon BK 39.46 0 64.53 63.60 -.05 -0.1 +9.5 +39.3 5778 16 1.36

Carlisle Cos CSL 143.52 9 250.23 236.94 -5.36 -2.2 -4.5 +57.5 170 34 2.16

Cleveland-Cliffs Inc CLF 12.77 7 26.51 22.05 -.16 -0.7 +1.3 +24.3 13246 5 ...

Exelon Corp EXC 38.36 0 58.01 56.24 -.25 -0.4 -2.6 +36.7 7389 22 1.53

FNB Corp PA FNB 9.79 0 13.92 13.99 +.14 +1.0 +15.3 +28.5 2454 13 .48

FirstEnergy Corp FE 29.86 0 41.75 41.57 -.02 ... ... +40.9 4173 21 1.56

Franklin Financ Svc FRAF 25.93 9 34.90 33.57 -.13 -0.4 +1.4 +24.2 2 11 1.28f

Fulton Financial FULT 13.25 0 18.72 18.88 +.36 +1.9 +11.1 +32.0 1227 12 .56a

Harley Davidson HOG 31.20 4 52.06 38.18 -.14 -0.4 +1.3 -2.1 1156 12 .60

Harsco Corp HSC 13.29 4 23.73 17.39 +.16 +0.9 +4.1 -13.6 269 ...

Hersha Hosp Tr HT 7.47 4 13.05 9.52 +.04 +0.4 +3.8 +17.7 190 ...

Hershey Company HSY 143.58 0 198.63 199.53 +2.79 +1.4 +3.1 +33.4 766 29 3.60

Hewlett Pack Ent HPE 11.67 0 17.60 17.56 +.07 +0.4 +11.4 +45.2 8508 36 .48

Lumen Technologies LUMN 10.42 4 16.60 12.34 +.07 +0.6 -1.7 +33.3 16944 1.00

M&T Bank MTB 128.46 0 184.78 185.34 +2.13 +1.2 +20.7 +23.0 1681 14 4.40

Mid Penn Bancorp MPB 20.74 0 33.89 32.63 +.14 +0.4 +2.8 +36.5 14 8 .80

Norfolk Sthn NSC 230.15 9 299.20 288.28 -1.78 -0.6 -3.2 +14.0 1118 27 4.36

Nwst Bancshares Inc NWBI 12.37 9 15.48 15.01 +.17 +1.1 +6.0 +10.3 820 12 .80

Ollie’s Bargain Out OLLI 45.55 1 123.52 45.20 -2.02 -4.3 -11.7 -51.2 1263 11 ...

Orrstown Fncl Svcs ORRF 17.25 0 25.91 25.65 +.44 +1.7 +1.8 +37.2 22 8 .76f

Oshkosh Corp OSK 88.31 8 137.47 124.13 +1.25 +1.0 +10.1 +25.4 463 18 1.48f

PNC Financial PNC 141.60 0 228.14 222.20 -3.00 -1.3 +10.8 +42.1 3764 17 5.00

PPG Inds PPG 132.10 7 182.97 165.00 -3.82 -2.3 -4.3 +12.8 1479 26 2.36f

PPL Corp PPL 26.15 9 30.72 29.97 -.03 -0.1 -0.3 +13.1 3439 1.66

Penn Natl Gaming PENN 43.36 1 142.00 44.45 -1.28 -2.8 -14.3 -55.2 3919 cc ...

Rite Aid Corp RAD 11.50 1 32.48 12.38 -.15 -1.2 -15.7 -31.2 2252 ...

Sysco Corp SYY 68.05 7 86.73 79.79 -.63 -0.8 +1.6 +2.1 2335 1.88

TE Connectivity Ltd TEL 116.87 9 166.44 160.74 +1.12 +0.7 -0.4 +25.6 2385 31 2.00

UGI Corp UGI 34.99 9 48.55 46.26 +.45 +1.0 +0.8 +29.4 872 10 1.38

UPS class B UPS 154.76 8 220.24 206.54 -3.93 -1.9 -3.6 +31.4 1920 30 4.08

US Steel Corp X 16.13 7 30.57 25.39 -.03 -0.1 +6.6 +8.1 11037 7 .20f

Verizon Comm VZ 49.69 4 59.85 53.28 -.24 -0.4 +2.5 -2.2 18694 10 2.56f

Weis Mkts WMK 46.50 9 68.17 64.12 -.38 -0.6 -2.7 +34.1 62 16 1.28f

Wells Fargo & Co WFC 29.68 0 57.18 58.06 +2.06 +3.7 +21.0 +67.9 56651 3 .80

52-WK RANGE YTD 1YR NAME TICKER LO HI CLOSE CHG %CHG %CHG %RTN (Thous) P/E DIV

LocalStocks

.13

.13

.13

3-month T-bill .13 0.12 +0.01 s s s .096-month T-bill .30 0.28 +0.02 s s s .0952-wk T-bill .51 0.47 +0.04 s s s .102-year T-note .99 0.91 +0.08 s s s .165-year T-note 1.55 1.47 +0.08 s s s .497-year T-note 1.72 1.64 +0.08 s s s .8210-year T-note 1.77 1.70 +0.07 s s s 1.1130-year T-bond 2.12 2.05 +0.07 s s s 1.87

Advanced 1044Declined 1427New Highs 96New Lows 109

Vol. (in mil.) 4,028Pvs. Volume 3,892

3,7163,74116921774

69534

DOW 35,996.43 35,641.49 35,911.81 -201.81 -0.56% -1.17%DOW Trans. 15,976.06 15,718.36 15,904.96 -99.61 -0.62% -3.48%DOW Util. 960.21 946.80 953.07 -5.91 -0.62% -2.83%NYSE Comp. 17,259.02 17,056.67 17,219.06 -39.95 -0.23% +0.32%NASDAQ 14,897.67 14,689.43 14,893.75 +86.94 +0.59% -4.80%S&P 500 4,665.13 4,614.80 4,662.85 +3.82 +0.08% -2.17%S&P 400 2,791.76 2,744.51 2,782.64 -9.12 -0.33% -2.09%Wilshire 5000 47,117.02 46,557.88 47,103.44 +23.81 +0.05% -2.80%Russell 2000 2,162.46 2,126.12 2,162.46 +3.02 +0.14% -3.69%

48 month new car loan 3.51 s 3.41 3.57 4.12Money market account 0.07 r 0.07 0.07 0.081 year CD 0.28 r 0.28 0.28 0.29$30K Home equity loan 6.48 s 6.46 6.46 4.6830 year fixed mortgage 3.52 s 3.44 3.24 3.0315 year fixed mortgage 2.84 s 2.69 2.52 2.38

3.253.253.25

The bank reported encouraging fourth-quarter financial results.

Investors were disappointed by the bank’s latest financial results, which showed profits fell as its trading business slumped.

The parent of Office Depot is delay-ing a split-up of its businesses to re-view a new buyout offer.

Gaming legislation changes in Ma-cau are reportedly beneficial to the casino operator.

The maker of Sam Adams beer warned it will miss its 2021 earnings target as it faces inventory shortag-es and higher supply chain costs.

The paint maker reported disap-pointing fourth-quarter earnings as raw materials shortages and supply chain problems crimped operations.

SOURCE: FIS AP

A late-afternoon recovery by technology stocks helped re-verse the market’s losses Friday, although major index-es still fell for a second straight week. The S&P 500 and the tech-heavy Nasdaq rose. The Dow Jones Indus-trial Average fell.

250300350

$400

O JN D

Sherwin-Williams SHWClose: $308.46 -8.93 or -2.8%

$215.88 $354.15Vol.:Mkt. Cap:

2.6m (2.3x avg.)$80.9 b

52-week range

PE:Yield:

42.20.7%

400450500

$550

O JN D

Boston Beer SAMClose: $449.33 -39.65 or -8.1%

$428.13 $1,349.98Vol.:Mkt. Cap:

1.2m (4.6x avg.)$4.6 b

52-week range

PE:Yield:

28.9...

303540

$45

O JN D

Las Vegas Sands LVSClose: $42.99 5.33 or 14.2%

$33.75 $66.77Vol.:Mkt. Cap:

49.5m (6.1x avg.)$32.8 b

52-week range

PE:Yield:

...

...

Yield: ...

354045

$50

O JN D

ODP ODPClose: $42.54 1.29 or 3.1%

$34.02 $51.40Vol.:Mkt. Cap:

955.5k (2.5x avg.)$2.2 b

52-week range

PE: 27.6

150160170

$180

O JN D

JPMorgan Chase JPMClose: $157.89 -10.34 or -6.2%

$127.35 $172.96Vol.:Mkt. Cap:

39.8m (3.7x avg.)$466.6 b

52-week range

PE:Yield:

10.02.5%

455055

$60

O JN D

Wells Fargo WFCClose: $58.06 2.06 or 3.7%

$29.68 $58.87Vol.:Mkt. Cap:

56.6m (2.2x avg.)$238.4 b

52-week range

PE:Yield:

13.81.4%

Companies would have to publicly report buybacks of their own shares much sooner than they do now under rules being proposed by regulators.

The Securities and Exchange Commission has put forth the proposals with the idea of giving investors timelier and more detailed information on stock buybacks, which vastly increased in volume last year.

Buybacks by the 500 largest public companies totaled an estimated $236 billion in the October-December quarter, up from $130.5 billion in the same quarter of 2020. Tech companies and big banks

led the repurchasing wave. Critics argue that executives, whose compen-

sation is often tied to share prices, use buybacks to enrich themselves instead of investing in workers and the business. By reducing the number of shares outstanding, buybacks tend to boost stock prices.

Under the SEC proposals, companies would have to file a report within one business day of a stock purchase. Currently, companies must only include such information in their quarterly reports. In addition, companies would have to disclose additional details about the stocks they repurchased.

More transparency onstock buybacks?

Marcy Gordon; J. Paschke • APSource: S&P Dow Jones Indices *est.

On the upswing: With stock buybacks on the rise, the SEC

is proposing new reporting rules.

0

50

100

150

200

$250 billion

’21*’20’19’18’17

S&P 500 stock buybacks, fourth quarter

AP

JPMorgan Chase (JPM)

$127 $17352-WEEK RANGE

Total return 1-yr 3-yrs* 5-yrs*

Div. yield: 2.5% Dividend: $4.00 *annualized Source: FactSet

Price-earnings ratio: 10(Based on past 12-month results)

Friday’s close: $157.89, -10.34

JPMorgan Chase tumbled Friday after the company said fourth-quarter profits were dragged down by a weaker performance from its trading desk and higher compensation for employees.

The New York-based financial giant earned $10.4 billion, or $3.33 per share, for the last three months of 2021. That’s down 14% from $12.14 billion, or $3.79 a share, in the same period a year earlier.

The bank, like others in the

financial industry, continues to deal with the impact of near-zero interest rates that have kept JPMorgan’s revenue mostly flat for the past year.

“We remain optimistic on U.S. economic growth as business sentiment is upbeat and consumers are benefiting from job and wage growth,” said CEO Jamie Dimon.

Even with the weaker quarter, JPMorgan had a record annual profit, nearly $50 billion.

Trade off

JPM 14.5% 18.2% 15.8%

CompanySpotlight

PERCENT RETURNSPECIALTY FUNDS YTD 1YR 3YR* 5YR*

BALANCED

INTERNATIONAL

Mutual Fund Categories

Equity Energy (ID) -1.41 12.46 18.95 12.37Health (SH) -7.90 -3.05 14.41 12.68Natural Resources (SN) 3.87 22.70 15.10 7.34Real Estate (SR) -5.17 34.52 16.43 10.20Technology (ST) -6.64 8.84 33.18 25.33Utilities (SU) -2.26 12.60 11.85 9.90

Target-Date 2015 (TD) -1.19 5.54 10.32 7.71Target-Date 2020 (TE) -1.37 6.02 11.06 8.21Target-Date 2025 (TG) -1.48 6.61 12.03 8.89

Divers. Emerging Mkt. (EM) 0.28 -6.54 12.07 9.62Europe Stock (ES) -2.60 11.07 16.82 10.58Foreign Small/Mid Val (FA) 1.26 13.22 12.09 8.24Foreign Large Blend (FB) 0.43 5.79 13.10 8.94Foreign Large Growth (FG) -4.75 0.66 16.79 12.40Foreign Small/Mid Gr. (FR) -6.05 1.16 15.21 11.75Foreign Large Value (FV) 3.74 10.97 10.51 6.82World Allocation (IH) -0.12 9.45 10.92 7.72World Large Stock (WS) NA NA NA NA

INDEX LAST CHG %CHG YTD

SOUTH AMERICA/CANADA

ASIA

GlobalMarkets

Yesterday in the Market

CommoditiesU.S. crude oil rose more than 2%, while natural gas prices slid 0.2%. Wholesale gasoline and heating oil prices rose. Gold and silver prices fell.

Crude Oil (bbl) 83.82 82.12 +2.07 +11.5Ethanol (gal) 2.16 2.16 ... +1.1Heating Oil (gal) 2.63 2.61 +0.99 +13.1Natural Gas (mm btu) 4.26 4.27 -0.19 +14.3Unleaded Gas (gal) 2.42 2.38 +1.46 +8.6

FUELS CLOSE PVS %CHG %YTD

Gold (oz) 1816.50 1821.20 -0.26 -0.6Silver (oz) 22.91 23.16 -1.05 -1.8Platinum (oz) 964.40 971.90 -0.77 ...Copper (lb) 4.41 4.53 -2.70 -1.0Palladium (oz) 1874.20 1886.00 -0.63 -1.8

METALS CLOSE PVS %CHG %YTD

Cattle (lb) 1.38 1.37 +0.71 -0.7Coffee (lb) 2.40 2.37 +1.12 +6.0Corn (bu) 5.96 5.88 +1.49 +0.5Cotton (lb) 1.20 1.17 +2.45 +6.3Lumber (1,000 bd ft) 1229.10 1228.10 ... +7.1Orange Juice (lb) 1.50 1.52 -1.71 +2.4Soybeans (bu) 13.70 13.65 -0.55 +3.1Wheat (bu) 7.42 7.47 -0.70 -3.8

AGRICULTURE CLOSE PVS %CHG %YTD

Dividend footnotes: a - extra dividends were paid, but are not included b - annual rate plus stock c - liquidating dividend e - amount declared or paid in last 12 months f - current annual rate, which was increased by most recent dividend announcement i - sum of dividends paid after stock split, no regular rate k - declared or paid this year - a cumulative issue with dividends in arrears m - current annual rate, which was decreased by most recent dividend announcement p - initial dividend, annual rate not known, yield not shown r - declared or paid in preceding 12 months plus stock dividend t - paid in stock, approximate cash value on ex-distribution date PE footnotes q - stock is a closed-end fund - no P/E ratio shown cc - P/E exceeds 99 dd - loss in last 12 months

DOW35,911.81 -201.81

NASDAQ14,893.75 +86.94

S&P 5004,662.85 +3.82

10-YR T-NOTE1.77% +.07

30-YR T-BOND2.12% +.07

CRUDE OIL$83.82 +1.70

GOLD$1,816.50 -4.70

EURO$1.1415 -.0046q p p p p p q q

(Previous and change figures reflect current contract.)

S&P 500 4662.85 +3.82 +0.08 -2.17 Frankfurt DAX 15883.24 -148.35 -0.93 -0.01 London FTSE 100 7542.95 -20.90 -0.28 +2.15 Hong Kong Hang Seng 24383.32 -46.45 -0.19 +4.21 Paris CAC-40 7143.00 -58.14 -0.81 -0.14 Tokyo Nikkei 225 28124.28 -364.85 -1.28 -2.32

Buenos Aires Merval 85481.06 +110.18 +0.13 +2.37 Mexico City Bolsa 53744.93 -185.53 -0.34 +0.89 Sao Paolo Bovespa 106984.70 +1455.20 +1.38 +2.06 Toronto S&P/TSX 21357.56 +64.60 +0.30 +0.63

Seoul Composite 2921.92 -40.17 -1.36 -1.87 Singapore Straits Times 3281.97 +24.67 +0.76 +5.07 Sydney All Ordinaries 7717.10 -80.40 -1.03 -0.80 Taipei Taiex 18379.40 -57.53 -0.31 +0.79 Shanghai Composite 3521.26 -34.00 -0.96 -3.26

52-WK RANGE YTD 1YR NAME TICKER LO HI CLOSE CHG %CHG %CHG %RTN (Thous) P/E DIV