The Dow Market Happenings For Friday, October 6, 2017

Dow stocks at 52 week highs include Home Depot (HD), 3M (MMM) and Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -45 points.

Thursday the Dow was up +113.75 (+0.50%) at 22,775.39.

Year-to-date the Dow is up +15.24%.

There were 22 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Goldman Sachs (GS) +2.39% and Microsoft (MSFT) +1.71%.

The Dow stock losers Thursday were led by UnitedHealth (UNH) -1.29% and Disney (DIS) -0.44%.

Goldman Sachs (GS +2.39%) was downgraded to ‘Market Perform’ from ‘Market Outperform’ at Vining Sparks.

The economy lost 33,000 jobs last month, the first monthly decline in employment in seven years. Wall Street economists had expected very modest employment gains of 80,000. The unemployment rate fell to 4.2 percent. August’s jobless rate was 4.4 percent. The average hourly wage grew by 0.45 percent, for a year-over-year gain of 2.9 percent.

European stocks are mostly lower and Asian markets ended higher.

The national average price of gasoline is down nine-tenths of a cent at $2.514 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/26/17 after the market close of $0.57, beating estimates calling for $0.515 per share.

JPMorgan (JPM) reports earnings on 10/12/2017 before the market open.

Goldman Sachs (GS) reports earnings on 10/17/2017 before the market open.

IBM (IBM) reports earnings on 10/17/2017 before the market open.

Johnson & Johnson (JNJ) reports earnings on 10/17/2017 before the market open.

UnitedHealth (UNH) reports earnings on 10/17/2017 before the market open.

American Express (AXP) reports earnings on 10/18/2017 after the market close.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) is up +6.88% year-to-date.

Financial Calendar

0830 ET Sep non-farm payrolls expected +80,000, Aug +156,000. Sep private payrolls expected +72,000, Aug +165,000. Sep manufacturing payrolls expected +8,000, Aug +36,000. Sep unemployment rate expected unch at 4.4%, Aug +0.1 to 4.4%.

0830 ET Sep avg hourly earnings expected +0.3% m/m and +2.5% y/y, Aug +0.1% m/m and +2.5% y/y. Sep avg weekly hours all-employees expected unch at 34.4 hours, Aug -0.1 to 34.4 hours.

0915 ET Atlanta Fed President Raphael Bostic (non-voter) speaks at the Investing in Americas Workforce conference.

1000 ET Aug wholesale trade sales expected unch m/m, Jul -0.1% m/m. Revised Aug wholesale inventories expected unchanged at +1.0%, prelim-Aug +1.0% m/m.

1215 ET New York Fed President William Dudley (voter)will deliver a speech on The Monetary Policy Outlook and the Importance of Higher Education for Economic Mobility at an event in New York.

1245 ET Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A at an Investing in Americas Workforce conference in Dallas.

1500 ET Aug consumer credit expected +$15.54 billion, Jul +$18.499 billion.

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