RL

Moving with the market

• RL +0.20% on the last session vs SPY +0.74%: −0.5 pts of stock-specific move.
• Aftermath, crossed above 200-day avg (Oct 2): After its 8 crosses above the 200-day average in the past 5 years, RL typically gained 9.5% over the next month (median) and was higher 88% of the time; half the outcomes fell between +4.9% and +11.8%. An ordinary month: +1.7%. Among S&P 500 stocks after crosses above the 200-day average, that ranks #16 of 497.
• 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.