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.

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