DJIA Market Happenings For Friday, September 30, 2016

Dow stocks at 52 week highs include Caterpillar (CAT) and IBM (IBM).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +8 points.

Thursday the Dow was down -195.79 (-1.07%) at 18,143.45.

Year-to-date the Dow is up +4.12%.

There were 2 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Caterpillar (CAT) +1.02% and Verizon (VZ) +0.12%.

The Dow stock losers Thursday were led by Goldman Sachs (GS) -2.75% and Merck (MRK) -2.20%.

Wal-Mart (WMT -1.48%) rose almost 1% in after-hours trading after Keybanc initiated it with an ‘Overweight’ and a price target of $90.

Nike (NKE -2.05%) was rated a new ‘Buy’ at Guggenheim with a price target of $70.

Consumer personal spending was unchanged in August from a month earlier and was the weakest reading since March. Incomes rose 0.2%, the slowest growth since February. Economists had expected personal spending to rise 0.1% and income to increase 0.2% in August. Americans also saved a little more. The personal saving rate rose to 5.7% in August from 5.6% in July.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is up seven-tenths of a cent at $2.216 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/27/2016 after the market close of $0.73, beating consensus of $0.556 per share.

Today’s Featured Dow Stock

Microsoft (MSFT)

Microsoft (MSFT) is up +3.46% year-to-date.

Financial Calendar

0830 ET Aug personal spending expected +0.1%, Jul +0.3%. Aug personal income expected +0.2%, Jul +0.4%. Aug PCE deflator expected +0.2% m/m and +0.9% y/y, Jul unch m/m and +0.8% y/y. Aug core PCE deflator expected +0.2% m/m and +1.7% y/y, Jul +0.1% m/m and +1.6% y/y.

0945 ET Sep Chicago PMI expected +0.5 to 52.0, Aug -4.3 to 51.5.

1000 ET Final-Sep University of Michigan U.S. consumer sentiment index expected +0.2 to 90.0, prelim-Sep unch at 89.8.

1200 ET USDA Q3 quarterly grain stocks.

1200 ET USDA Q3 Hogs & Pigs inventory.

The Dow Market Happenings For Thursday, September 29, 2016

There are no Dow stocks at 52 week highs.There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -25 points.

Wednesday the Dow was up +110.94 (+0.61%) at 18,8339.24.

Year-to-date the Dow is up +5.25%.

There were 29 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Caterpillar (CAT) +4.48% and Exxon Mobil (XOM) +4.40%.

The Dow stock losers Wednesday were led by Nike (NKE) -3.78% and McDonald’s (MCD) -1.45%.

Gross domestic product expanded at an inflation-adjusted 1.4% seasonally adjusted annual rate in the second quarter. That is up from last month’s estimate of a 1.1% growth rate during the spring. Economists had expected revised GDP growth to be 1.3% for the April to June period.

The S&P/Case-Shiller 20-City Composite Index rose 5.0% year-over-year, missing analysts’ expectations of a 5.1% increase but still above the 4.8% pace of the prior two years.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is up one-tenth of a cent at $2.209 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/27/2016 after the market close of $0.73, beating consensus of $0.556 per share.

Today’s Featured Dow Stock

Merck (MRK)

Merck (MRK) is up +19.84% year-to-date.

Financial Calendar

0500 ET Philadelphia Fed President Patrick Harker (non-voter) delivers a speech on the economic outlook at the Global Interdependence Center in Dublin, Ireland.

0830 ET Weekly initial unemployment claims expected +8,000 to 260,000, previous -8,000 to 252,000. Weekly continuing claims expected +16,000 to 2.129 million, previous -36,000 to 2.113 million.

0830 ET Revised Q2 GDP expected +1.3% (q/q annualized), previous +1.1%. Q2 personal consumption expected unrevised at +4.4%. Q2 GDP price index expected unrevised at +2.3%. Q2 core PCE expected unrevised at +1.8% q/q.

0830 ET Aug wholesale inventories expected unch m/m, Jul unch m/m.

0830 ET USDA weekly Export Sales.

0850 ET Atlanta Fed President Dennis Lockhart (non-voter) speaks at the 2016 Future of Florida Forum.

1000 ET Fed Governor Jerome Powell delivers a keynote address at the research conference Community Banking in the 21st Century.

1000 ET Aug pending home sales expected unch m/m, Jul +1.3% m/m and -2.2% y/y.

1400 ET Minneapolis Fed President Neel Kashkari (non-voter) speaks during a town hall event in Rapid City, SD.

1600 ET Fed Chair Janet Yellen speaks via video link to a forum for minority bankers hosted by the Kansas City Fed.