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Cleveland Reporter

Thursday, October 31, 2024

Cleveland-based General Industrials company Parker-Hannifin Corp. (PH:NYQ) sees value fall 70% in week ending July 9

Stock market 6 edited

Value in General Industrials stocks fell 0.6 percent in the week ending July 9 from the previous week.

The strongest performing General Industrials company in Ohio was Greif Inc. (GEF.B:NYQ), sitting 47.5 percent higher to sell at $60.57.

Parker-Hannifin Corp. (PH:NYQ) fared the worst among Ohio companies, suffering a 70 percent drop to $248.04.

The Leisure Goods industry was the week’s best-performing industry on the market. The market is divided into 45 different industries.

Alternative Energy was the worst-performing industry.

Healthcare and technology stocks are viewed as the safest bets for long-term gains.

Besty Kuekcer with Benzinga.com said healthcare-related stocks, such as hospital conglomerates and insurance companies, have weathered numerous economic crises and still make a profit, suggesting that they are generally a stable investment.

While technology stocks can be more risky, given the boom-bust nature of new tech companies, Kuecker recommended a diverse portfolio of tech companies to strike it big when companies succeed or sell to other larger companies.

For short-term investments, Kuecker recommended “consumer discretionary” stocks, which are sensitive to economic changes but can rise greatly on the back of a strong economy.

Nothing in this article is to be assumed as financial advice.

Rank of stock market industries in week ending July 9

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Leisure Goods6.1%311.5%-95.5%
Investment Banking and Brokerage Services6%4,908.5%-94.7%
Pharmaceuticals and Biotechnology5.5%52,904.7%-95.8%
Software and Computer Services5.3%1,893.7%-99.4%
Household Goods and Home Construction4.5%2,011.8%-82.7%
Technology Hardware and Equipment4.5%1,647.9%-94.8%
Electronic and Electrical Equipment4.1%591.3%-91.1%
Personal Goods3.6%716.2%-76.5%
Automobiles and Parts3.4%199.3%-80.1%
Retailers3.3%262.6%-89.1%
Mortgage Real Estate Investment Trusts2.7%193.1%-75.1%
Industrial Support Services2.6%6,461.6%-93.4%
Health Care Providers2.5%4,050.5%-82.3%
Industrial Metals and Mining2.2%467%-94.8%
Industrial Materials2%40%-66.2%
Telecommunications Equipment1.8%2,481.8%-80%
Finance and Credit Services1.3%200%-98.5%
Travel and Leisure1.2%5,954.1%-89.7%
Banks1%68,414.3%-98.2%
Industrial Engineering1%1,495.5%-100%
Media0.8%10,644.8%-95.6%
Closed End Investments0.5%2,299.2%-93.3%
Aerospace and Defense0.5%32,795.9%-84.3%
Food Producers0.5%1,474.1%-87.2%
Consumer Services0.3%1,011.7%-96.4%
Open End and Miscellaneous Investment Vehicles0.2%600,107.7%-100%
Life Insurance-0.1%276.7%-51.4%
Industrial Transportation-0.5%303.3%-82%
General Industrials-0.6%62.7%-90.9%
Personal Care, Drug and Grocery Stores-0.7%4,918.7%-62.6%
Real Estate Investment Trusts-0.9%26,721.3%-92.1%
Oil, Gas and Coal-1.2%2,180.1%-95.5%
Non-life Insurance-1.3%359%-97.9%
Telecommunications Service Providers-1.4%70%-57.6%
Chemicals-1.6%482.7%-74.1%
Waste and Disposal Services-1.7%265.8%-75.7%
Beverages-1.9%470.8%-93.6%
Electricity-2.7%24.8%-86.9%
Precious Metals and Mining-3.1%302%-92.5%
Gas, Water and Multi-utilities-3.3%82.9%-70.9%
Real Estate Investment and Services-4.7%5,258.3%-97.4%
Construction and Materials-4.7%3,443.3%-89.5%
Medical Equipment and Services-5.4%17,258.8%-92.4%
Tobacco-6.4%579%-87.7%
Alternative Energy-46.2%91.3%-95.6%

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