JCI

Outperforming without a clear catalyst yet

• JCI +2.95% on the last session vs SPY +0.74%: +2.2 pts of stock-specific move.
• Aftermath, 52-week high (Oct 2): After its 13 new 52-week highs in the past 5 years, JCI typically gained 1.0% over the next week (median) and was higher 69% of the time; half the outcomes fell between -0.5% and +3.6%. An ordinary week: +0.5%. Among S&P 500 stocks after new 52-week highs, that ranks #88 of 482.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.