The Dow Market Happenings For Thursday, September 21, 2017

Dow stocks at 52 week highs include American Express (AXP), Boeing (BA), Caterpillar (CAT), JPMorgan (JPM), Pfizer (PFE) and Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -11 points.

Wednesday the Dow was up +41.79 (+0.19%) at 22,412.59.

Year-to-date the Dow is up +13.41%.

There were 20 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by McDonald’s (MCD) +1.56% and Pfizer (PFE) +1.52%.

The Dow stock losers Wednesday were led by Apple (AAPL) -1.68% and Johnson & Johnson (JNJ) -1.48%.

The Fed left interest rates unchanged on Wednesday but signaled it still expects one more increase by the end of the year despite a recent bout of low inflation.

First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended September 16th, according to the Labor Department report. The report said initial jobless claims fell to 259,000, a decrease of 23,000 from the previous week’s revised level of 282,000. Economists had expected jobless claims to climb to 300,000 from the 284,000 originally reported for the previous week. The Labor Department said the four-week moving average climbed to 268,750, an increase of 6,000 from the previous week’s revised average of 262,750. The increase lifted the less volatile four-week moving average to its highest level since reaching 269,500 in June of 2016. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, jumped by 44,000 to 1.980 million in the week ended September 9th. The four-week moving average of continuing claims also rose to 1,953,000, an increase of 6,500 from the previous week’s revised average of 1,946,500.

European stocks are mostly higher and Asian markets ended mostly lower.

The national average price of gasoline is down nine-tenths of a cent at $2.598 per gallon.

Earnings Reports.

Nike (NKE) reports earnings on 9/26/17 after the market close.

Today’s Featured Dow Stock

United Technologies (UTX)

United Technologies (UTX) is up +7.57% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +16,000 to 300,000, previous -14,000 to 284,000. Weekly continuing claims expected +31,000 to 1.975 million, previous -7,000 to 1.944 million.

0830 ET Sep Philadelphia Fed business outlook index expected -1.7 to 17.2, Aug -0.6 to 18.9.

0830 ET USDA weekly Export Sales.

0900 ET Jul FHFA house price index expected +0.4% m/m, Jun +0.1% m/m.

1000 ET Aug leading indicators expected +0.3%, Jul +0.3%.

1100 ET Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Sep 26-28.

1300 ET Treasury auctions $11 billion 10-year TIPS.

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