DJIA Market Happenings For Wednesday, January 31, 2018

Dow stocks at 52 week highs include Travelers (TRV). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +212 points.

Tuesday the Dow was down -362.59 (-1.37%) at 26,076.89.

Year-to-date the Dow is up +5.49%.

There were 5 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Caterpillar (CAT) +0.73% and Procter & Gamble (PG) +0.10%. Funny, Caterpillar (CAT) was the leading down Dow stock yesterday.

The Dow stock losers Tuesday were led by UnitedHealth (UNH) -4.35% and Pfizer (PFE) -3.13%.

Boeing (BA) crushes earnings this morning and jumps 6%. See earnings section below.

Apple (AAPL -0.59%) is down almost 1% in pre-market trading after it was downgraded to ‘Market Perform’ from ‘Outperform’ at BMO Capital Markets.

Private companies hired another 234,000 in January, well above expectations for 185,000, according to ADP and Moody’s Analytics.

The Fed winds up their meeting today about 11:00 am PST.

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

The national average price of gasoline is up five-tenths of a cent at $2.591 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 12/21/17 after the market close of $0.46, beating estimates of $0.437 per share.

JPMorgan (JPM) reported earnings on 1/12/2018 before the market open of $1.07, missing estimates calling for $1.726 per share.

UnitedHealth (UNH) reported earnings on 1/16/2018 before the market open of $2.59, beating estimates of $2.559 per share.

Goldman Sachs (GS) reported earnings on 1/17/2018 before the market open of -$5.51 (includes tax loss), missing estimates calling for $5.064 per share.

American Express (AXP) reported earnings on 1/18/2017 after the market close of -$1.41, missing estimates calling for $1.564 per share.

IBM (IBM) reported earnings on 1/18/2018 after the market close of $5.01, missing estimates calling for $5.191 per share.

Johnson & Johnson (JNJ) reported earnings on 1/23/2018 before the market open of $1.19, beating estimates of $1.166 per share.

Procter & Gamble reports earnings on 1/23/2018 before the market open of $1.74, missing estimates calling for $1.757 per share.

Verizon (VZ) reported earnings on 1/23/2018 before the market open of $0.86, missing estimates of $0.887 per share.

Travelers (TRV) reported earnings on 1/23/2018 before the market open of $2.28, handily beating estimates calling for $1.657 per share.

General Electric (GE) reported earnings on 1/24/2018 before the market open of -$0.35, missing estimates calling for $0.282 per share.

United Technologies (UTX) reported earnings on 1/24/2018 before the market open of $1.60, meeting estimates of $1.597 per share.

Caterpillar (CAT) reported earnings on 1/25/2018 before the market open of $2.16, beating estimates calling for $1.827 per share.

Intel (INTC) reported earnings on 1/25/2018 after the market close of $1.08, beating estimates calling for $0.891 per share.

3M (MMM) reporte earnings on 1/25/2018 before the market open of $2.10, beating estimates of $2.052 per share.

Pfizer (PFE) reported earnings on 1/30/2018 before the market open of $0.62, beating estimates of $0.583 per share.

McDonald’s (MCD) reported earnings on 1/30/2018 before the market open of $0.87, missing estimates calling for $1.616 per share.

Microsoft (MSFT) reports earnings on 1/31/2018 at an unspecified time.

Boeing (BA) reported earnings on 1/31/2018 before the market open of $4.80, beating estimates calling for $2.951 per share.

DowDupont (DWDP) reports earnings on 2/1/2018 before the market open.

Apple (AAPL) reports earnings on 2/1/2018 after the market close.

Visa (V) reports earnings on 2/1/2018 after the market close.

Chevron (CVX) reports earnings on 2/2/2018 before the market open.

Exxon Mobil (XOM) reports earnings on 2/2/2018 before the market open.

Merck (MRK) reports earnings on 2/2/2018 at an unspecified time.

Disney (DIS) reports earnings on 2/6/2018 after the market close.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) is up +6.87% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +4.5% with purchase sub-index +6.1% and refi sub-index +0.9%.

0815 ET Jan ADP employment change expected +180,000, Dec +250,000.

0830 ET Q4 employment cost index expected +0.6%, Q3 +0.7%.

0830 ET Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion) and 30-year T-bonds (previous $12 billion) to be auctioned Feb 6-8 in the Feb quarterly refunding.

0945 ET Jan Chicago PMI expected -3.8 to 64.0, Dec +2.2 to 67.8.

1000 ET Dec pending home sales expected +0.5% m/m and +2.7% y/y, Nov +0.2% m/m and +0.6% y/y.

1030 ET EIA weekly Petroleum Status Report.

1400 ET FOMC announces interest rate decision, 1.25%-1.50% fed funds target range expected unchanged.

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