DJIA Market Happenings For Thursday, November 2, 2017

Dow stocks at 52 week highs include Apple (AAPL), American Express (AXP), Cisco (CSCO), Intel (INTC), McDonald’s (MCD) and Visa (V). Dow stock 52 week lows General Electric (GE).

The Market

Premarket today, the Dow was indicated to open up +13 points.

Wednesday the Dow was up +57.77 (+0.25%) at 23,435.01.

Year-to-date the Dow is up +18.58%.

There were 19 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Intel (INTC) +2.68% and Cisco (CSCO) +1.38%.

The Dow stock losers Wednesday were led by Apple (AAPL) -1.27% and General Electric (GE) -0.69%.

The Fed ended it’s two day policy meeting leaving rates unchanged.

Applications for jobless aid fell 5,000 to a seasonally adjusted 229,000 last week. The four-week average dropped to a 44-year low of 232,500. The four-week average was previously that low in April 1973, when the US economy had a smaller population and fewer total workers.

US workers’ productivity jumped 3 percent in the third quarter, the strongest gain in three years, while labor costs remained moderate.

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

The national average price of gasoline is up three-tenths of a cent at $2.469 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) reported earnings on 10/12/2017 before the market open of $1.76, beating estimates calling for $1.709 per share.

Goldman Sachs (GS) reported earnings on 10/17/2017 before the market open of $5.02, beating estimates calling for $4.343 per share.

Johnson & Johnson (JNJ) reported earnings on 10/17/2017 before the market open of $1.90, beating estimates of $1.823 per share.

UnitedHealth (UNH) reported earnings on 10/17/2017 before the market open of $2.66, beating estimates calling for $2.607 per share.

IBM (IBM) reported earnings on 10/17/2017 after the market close of $3.30, missing estimates calling for $3.325 per share.

American Express (AXP) reported earnings on 10/18/2017 after the market close of $1.50, beating estimates of $1.487 per share.

Travelers (TRV) reported earnings on 10/19/2017 before the market open of $0.91, beating estimates calling for $0.724 per share.

Verizon (VZ) report earnings on 10/19/2017 before the market open of $0.98, matching estimates of $0.984 per share.

General Electric (GE) reported earnings on 10/20/2017 before the market open of $0.29, missing estimates calling for $0.49 per share.

Procter & Gamble (PG) reported earnings on 10/20/2017 before the market open of $1.09, meeting estimates of $1.093 per share.

3M (MMM) reported earnings on 10/24/2017 before the market open of $2.33, beating estimates of $2.253 per share.

Caterpillar (CAT) reported earnings on 10/24/2017 before the market open of $1.95, beating estimates of $1.301 per share.

McDonald’s (MCD) reported earnings on 10/24/2017 before the market open of $2.32, beating estimates of $1.792 per share.

United Technologies (UTX) reported earnings on 10/24/2017 before the market open of $1.73, beating estimates of $1.719 per share.

Boeing (BA) reported earnings on 10/25/2017 before the market open of $2.72, beating estimates of $2.709 per share.

Coca Cola (KO) reported earnings on 10/25/2017 before the market open of $0.50, meeting estimates of $0.495 per share.

Visa (V) reported earnings on 10/25/2017 before the market open of $0.90, beating estimates of $0.884 per share.

Intel (INTC) reported earnings on 10/26/2017 after the market close of $1.01, beating estimates of $0.815 per share.

Microsoft (MSFT) reported earnings on 10/26/2017 after the market close of $0.84, beating estimates calling for $0.781 per share.

Chevron (CVX) reported earnings on 10/27/2017 before the market open of $1.03, meeting expectations of $1.026 per share.

Merck (MRK) reported earnings on 10/27/2017 before the market open of $1.11, beating estimates calling for $1.04 per share.

Exxon Mobil (XOM) reported earnings on 10/27/2017 before the market open of $0.93, beating estimates of $0.885 per share.

Pfizer (PFE) reported earnings on 10/31/2017 before the market open of $0.67, barely beating estimates calling for $0.662 per share..

Apple (AAPL) reports earnings on 11/2/2017 after the market close.

Disney (DIS) reports earnings on 11/9/2017 after the market close.

Home Depot (HD) reports earnings on 11/14/2017 before the market open.

Cisco (CSCO) reports earnings on 11/15/2017 after the market close.

Wal-Mart (WMT) reports earnings on 11/16/2017 before the market open.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) is up +10.44% year-to-date.

Financial Calendar

0730 ET Oct Challenger job cuts, Sep -27.0% y/y.

0830 ET Weekly initial unemployment claims expected +2,000 to 235,000, previous +10,000 to 233,000. Weekly continuing claims expected +1,000 to 1.894 million, previous -3,000 to 1.893 million.

0830 ET Q3 non-farm productivity expected +2.6%, Q2 +1.5%. Q3 unit labor costs expected +0.4%, Q2 +0.2%.

0830 ET USDA weekly Export Sales.

1220 ET New York Fed President William Dudley delivers closing remarks at an Alternative Reference Rates Committee Roundtable.

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