DJIA Market Happenings For Friday, June 29, 2018

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include Walgreens Boot Aliance (WBA).

The Market

Premarket today, the Dow was indicated to open up +100 points.

Thursday the Dow was up +98.46 (+0.41%) at 24,216.05.

Year-to-date the Dow is down -2.04%.

There were 25 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Verizon (VZ) +3.14% and IBM(IBM) +1.86%.

The Dow stock losers Thursday were led by Walgreens Boot Alliance (WBA) -9.90% and UnitedHealth (UNH) -1.32%.

The announcement that Amazon.com would acquire online pharmacy PillPack sank shares in Walgreens (WBA) and other drug retailers on Thursday.

JPMorgan Chase (JPM +1.64%) gained more than 1% in after-hours trading after it said it will increase its quarterly dividend to 80 cents a share from 56 cents a share, well above consensus of 68 cents a share, and then said it will buy back up to $20.7 billion of its stock between July 1, 2018 and June 30,2019.

Nike (NKE +0.49%) rose almost 6% in after-hours trading after it reported Q4 EPS of 69 cents, higher than consensus of 64 cents.

Walgreens (WBA), the No. 2 U.S. pharmacy chain by market cap lost 9.9 percent on Thursday, becoming the day’s biggest loser of the 30 stocks that comprise the Dow. It trimmed more than 44 points off the index, which shrugged off early losses to close the day up 98 points, or 0.4 percent. Walgreens shares were down more than 11 percent in the three days after the company replaced General Electric Co (GE) in the index on Tuesday.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is up five-tenths of a cent at $2.853 per gallon.

Earnings Reports.

Walgreens (WBA) reported earnings on 6/28/2018 before the market open with $1.53 per share, beating estimates calling for $1.503 per share.

Nike (NKE) reported earnings on 6/28/2018 after the market close of $0.69, beating estimates of $0.673 per share.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) is down -8.72% year-to-date.

Financial Calendar

05:07 Dallas Fed PCE (May), 0.00%, 1.70%

12:30 Core PCE Price Index (MoM) (May), 0.2%, 0.2%

12:30 Core PCE Price Index (YoY) (May), 1.9%, 1.8%

12:30 PCE Deflator (YoY), 2.0%

12:30 PCE Deflator (MoM), 0.2%

12:30 Personal Income (MoM) (May), 0.4%, 0.3%

12:30 Personal Spending (MoM) (May), 0.4%, 0.6%

12:30 Real Personal Consumption (MoM) (May), 0.4%

13:45 Chicago PMI (Jun), 60.0, 62.7

14:00 Michigan 5-Year Inflation Expectations (Jun), 2.60%

14:00 Michigan Consumer Expectations (Jun), 87.4

14:00 Michigan Consumer Sentiment (Jun), 99.2 99.3

14:00 Michigan Current Conditions (Jun), 117.9

14:00 Michigan Inflation Expectations (Jun), 2.9%

14:30 ECRI Weekly Annualized (WoW), 3.1%

14:30 ECRI Weekly Index, 150.1

17:00 U.S. Baker Hughes Oil Rig Count, 862

19:30 CFTC Copper speculative net positions, 56.3K

19:30 CFTC Crude Oil speculative net positions, 580.9K

19:30 CFTC Gold speculative net positions, 96.5K

19:30 CFTC S&P 500 speculative net positions, 189.2K

19:30 CFTC Silver speculative net positions, 40.9K

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