The Dow Market Happenings For Wednesday, June 29, 2016

Dow stocks at 52 week highs include Johnson & Johnson (JNJ).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +133 points.

Tuesday the Dow was up +269.48 (+1.57%) at 17,409.72.

Year-to-date the Dow is down -0.09%.

There were 29 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Travelers (TRV) +3.43%, JPMorgan (JPM) +3.32% and Visa (V) +2.48%.

The Dow stock loser Tuesday was Dupont (DD) -2.08%.

Nike (NKE +2.31%) fell nearly 4% in premarket trading after it reported Q4 revenue of $8.24 billion, less than consensus of $8.28 billion, and said Q4 worldwide futures orders ex-FX were up 11%, below consensus of +13%. However it is now opening up +2%.

The Commerce Department said on Wednesday consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 percent last month, pointing to an acceleration in economic growth in the second quarter.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is down six-tenths of a cent at $2.294 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 6/28/16 after the market close of $0.49, beating estimates calling for $0.477 per share.

Today’s Featured Dow Stock

McDonald’s (MCD)

McDonald’s (MCD) is up +0.30%.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +2.9% with purchase sub-index -2.4% and refi sub-index +6.5%.

0830 ET May personal spending expected +0.4%, Apr +1.0%. May personal income expected +0.3%, Apr +0.4%.

0830 ET May PCE deflator expected +0.2% m/m and +1.0% y/y, Apr +0.3% m/m and +1.1% y/y. May core PCE deflator expected +0.2% m/m and +1.7% y/y, Apr +0.2% m/m and +1.6% y/y.

1000 ET May pending home sales expected -1.1% m/m and +4.4% y/y, Apr +5.1% m/m and +2.9% y/y.

1030 ET EIA Weekly Petroleum Status Report.

1630 ET Federal Reserve Board releases results from supervisory stress tests.

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