DJIA Market Happenings For Thursday, May 17, 2018

Dow stocks at 52 week highs include Nike (NKE). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -39 points.

Wednesday the Dow was up +62.52 (+0.25%) at 24,768.93.

Year-to-date the Dow is up +0.20%.

There were 18 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Nike (NKE) +2.65% and General Electric (GE) +2.18%.

The Dow stock losers Wednesday were led by 3M (MMM) -1.09% and Home Depot (HD) -0.85%.

Cisco Systems (CSCO -0.70%) fell 3% in after-hours trading after it forecast Q4 adjusted EPS of 68 cents to 70 cents, the midpoint right on expectations of 69 cents.

Unemployment insurance weekly claims in the week ending May 12, the advance figure for seasonally adjusted initial claims was 222,000, an increase of 11,000 from the previous week’s unrevised level of 211,000. The 4-week moving average was 213,250, a decrease of 2,750 from the previous week’s unrevised average of 216,000. This is the lowest level for this average since December 13, 1969
when it was 210,750. Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 5, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 5 was 1,707,000, a decrease of 87,000 from the previous week’s revised level. This is the lowest level for insured unemployment since December 1, 1973 when it was 1,692,000. The previous week’s level was revised up 4,000 from 1,790,000 to 1,794,000. The 4-week moving average was 1,773,750, a decrease of 39,750 from the previous week’s revised average. This is the lowest level for this average since December 22, 1973 when it was 1,756,000. The previous week’s average was revised up by 1,000 from 1,812,500 to 1,813,500.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is up 1.1 cents at $2.902 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 3/22/2018 after the market close of $-0.57, missing estimates calling for $0.555 per share.

JPMorgan (JPM) reported earnings on 4/13/2018 before the market open of $2.37, missing estimates calling for $2.92 per share.

Goldman Sachs (GS) reported earnings on 4/17/2018 before the market open of $6.95, beating estimates of $5.75 per share.

Johnson & Johnson (JNJ) reported earnings on 4/17/2018 before the market open of $2.06, beating estimates of $2.029 per share.

UnitedHealth (UNH) reports earnings on 4/17/2018 before the market open of $3.04, beating estimates of $2.968 per share.

IBM (IBM) reported earnings on 4/17/2018 after the market close of $2.45, beating estimates of 2.415 per share.

American Express (AXP) reported earnings on 4/18/2018 after the market close of $1.86, beating estimates of $1.747 per share.

General Electric (GE) reported earnings on 4/20/2018 before the market open of $0.16, beating estimates calling for $0.12 per share.

Procter & Gamble (PG) reported earnings on 4/20/2018 before the market open of $1.00 on expectations of $1.002 per share.

Caterpillar (CAT) reported earnings on 4/24/2018 before the market open of $2.82, beating estimates of $2.169 per share.

Coca Cola (KO) reported earnings on 4/24/2018 before the market open of $0.47, beating estimates of $0.464 per share.

3M (MMM) reported earnings on 4/24/2018 before the market open of $2.50, beating estimates of $2.525 per share.

United Technologies (UTX) reported earnings on 4/24/2018 before the market open of $1.77, beating estimates of $1.544 per share.

Verizon (VZ) reported earnings on 4/24/2018 before the market open of $1.17, beating estimates of $1.107 per share.

Boeing (BA) reported earnings on 4/25/2018 before the market open of $3.64, beating estimates calling for $2.637 per share.

Visa (V) reported earnings on 4/25/2018 after the market close of $1.11, beating estimates of $1.058 per share.

Intel (INTC) reported earnings on 4/26/2018 after the market close of $0.87, beating estimates of $0.765 per share.

Microsoft (MSFT) reported earnings on 4/26/2018 after the market close of $0.95, beating estimates of $0.892 per share.

Chevron (CVX) reported earnings on 4/27/2018 before the market open of $1.90, beating estimates of $1.423 per share.

Exxon Mobil (XOM) reported earnings on 4/27/2018 before the market open of $1.09, missing estimates calling for $1.179 per share.

McDonald’s (MCD) reported earnings on 4/30/2018 before the market open of $1.72, with estimates calling for $1.706 per share.

Merck (MRK) reported earnings on 5/1/2018 before the market open of $1.05, beating estimates calling for $1.004 per share.

Pfizer (PFE) reported earnings on 5/1/2018 before the market open of $0.77, beating estimates calling for $0.757 per share.

Apple (AAPL) reported earnings on 5/1/2018 after the market close of $2.73, barely beating estimates calling for $2.729 per share.

Dow DuPont (DWDP) reported earnings on 5/3/2018 before the market open of $1.12 per share.

Disney (DIS) reported earnings on 5/8/2018 after the market close of $1.84, beating estimates calling for $1.73 per share.

Home Depot (HD) reported earnings on 5/15/2018 before the market open of $2.08, missing estimates calling for $2.10 per share.

Cisco (CSCO) reported earnings on 5/16/2018 after the market close of $0.66, essentially meeting estimates calling for $0.664 per share.

Wal-Mart (WMT) reported earnings on 5/17/2018 before the market open of $1.14, meeting estimates calling for $1.142 per share.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) is down -5.73% year-to-date.

Financial Calendar

12:30 Continuing Jobless Claims, 1,780K, 1,790K

12:30 Initial Jobless Claims, 215K, 211K

12:30 Jobless Claims 4-Week Avg., 216.00K

12:30 Philadelphia Fed Manufacturing Index (May), 21.0, 23.2

12:30 Philly Fed Business Conditions (May), 40.7

12:30 Philly Fed CAPEX Index (May), 29.80

12:30 Philly Fed Employment (May), 27.1

12:30 Philly Fed New Orders (May), 18.4

12:30 Philly Fed Prices Paid (May), 56.40

13:45 Bloomberg Consumer Confidence, 55.8

14:30 Natural Gas Storage , 105B, 89B

14:45 FOMC Member Kashkari Speaks

17:00 10-Year TIPS Auction, 0.764%

17:30 FOMC Member Kaplan Speaks

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