The Dow Market Happenings For Friday, June 3, 2016

Dow stocks at 52 week highs include UnitedHealth (UNH).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -73 points.

Thursday the Dow was up +48.89 (+0.27%) at 17,838.56.

Year-to-date the Dow is up +2.37%.

There were 22 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Dupont (DD) +2.56% and Caterpillar (CAT) +1.87%.

The Dow stock losers Thursday were led by Exxon Mobil (XOM) -0.80% and Apple (AAPL) -0.75%.

The U.S. economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment, pointing to labor market weakness that could make it difficult for the Federal Reserve to raise interest rates. Non-farm payrolls increased by only 38,000 jobs last month, the smallest gain since September 2010, the Labor Department said on Friday. Employers hired 59,000 fewer workers in March and April. The government said the month-long Verizon strike had depressed employment growth by 34,000 jobs. The goods producing sector, which includes mining and manufacturing, shed 36,000 jobs, the most since February 2010. Even without the Verizon strike, payrolls would have increased by only 72,000.
The Verizon workers, who were considered unemployed because they did not receive a salary during the payrolls survey week, returned to their jobs on Wednesday. They are expected to boost June employment. The jobless rate fell three-tenths of a percent to 4.7 percent in May, the lowest since November 2007. The decrease in the unemployment rate was due partly to people dropping out of the labor force. Economists polled had forecast payrolls rising 164,000 in May and the unemployment rate falling to 4.9 percent.

European stocks are mostly lower and Asian markets ended higher.

The national average price of gasoline is up 1.3 cents at $2.340 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) is up +8.33% year-to-date.

Financial Calendar

0345 ET Chicago Fed President Charles Evans (non-voter) speaks on the economy and monetary policy at the Global Interdependence Centers Central Banking Series event in London.

0830 ET May non-farm payrolls expected +160,000, Apr +160,000. May private payrolls expected +150,000, Apr +171,000. May manufacturing payrolls expected -2,000, Apr +4,000. May unemployment rate expected -0.1 to 4.9%, Apr unch at 5.0%.

0830 ET May avg hourly earnings expected +0.2% m/m and +2.5% y/y, Apr +0.3% m/m and +2.5% y/y. May avg weekly hours all employees expected unch at 34.5 hours, Apr +0.1 to 34.5 hours.

0830 ET Apr trade deficit expected -$41.0 billion, Mar -$40.4 billion.

0830 ET USDA weekly Export Sales.

0945 ET Revised May Markit services PMI expected +0.2 to 51.4, preliminary-May -1.6 to 51.2. Revised May Markit composite PMI.

1000 ET Apr factory orders expected +1.9%, Mar +1.5% and +1.0% ex transportation.

1000 ET May ISM non-manufacturing index expected -0.4 to 55.3, Apr +1.2 to 55.7.

1230 ET Fed Governor Lael Brainard gives a speech on the economic outlook and monetary policy at the Council on Foreign Relations.

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