DJIA Market Happenings For Wednesday, October 24, 2018

Dow stocks at 52 week highs include Verizon (VZ). Dow stock 52 week lows include 3M (MMM).

The Market

Premarket today, the Dow was indicated to open up +20 points.

Tuesday the Dow was down -125.98 (-0.50%) at 25,191.43.

Year-to-date the Dow is up +1.91%.

There were 10 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by McDonald’s (MCD) +6.31%, Verizon (VZ) +4.06% and United Technologies (UTX) +2.86%.

The Dow stock losers Tuesday were led by 3M (MMM) -4.38%, Chevron (CVX) -3.25% and Nike (NKE) -2.07%.

Microsoft and Visa report earnings today after the close.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down one-tenth of a cent at $2.844 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/25/2018 after the market close of $0.67, just beating estimates calling for $0.657 per share.

Walgreens (WBA) reported earnings on 10/11/18 before the market open of $1.48, barely beating estimates of $1.471 per share.

JPMorgan (JPM) reported earnings on 10/12/18 before the market open of $2.36, beating estimates calling for $2.26 per share.

Goldman Sachs (GS) reported earnings on 10/16/18 before the market open of $6.28, beating estimates of $5.695 per share.

IBM (IBM) reported earnings on 10/16/18 after the market close of $3.42, missing estimates of $3.434 per share.

Johnson & Johnson (JNJ) reported earnings on 10/16/18 before the market open of $2.05, missing estimates calling for $2.061 per share.

UnitedHealth (UNH) reported earnings on 10/16/18 before the market open of $3.41, beating estimates of $3.356 per share.

Procter & Gamble (PG) reported earnings on 10/19/2018 before the market open of $1.12,meeting expectations of $1.116 per share.

Travelers (TRV) reported earnings on 10/19/18 before the market open of $2.54, beating estimates calling for $2.19 per share.

American Express (AXP) reported earnings on 10/18/18 after the market close of $1.88,beating estimates of $1.808 per share.

McDonald’s (MCD) reported earnings on 10/23/2018 before the market open of $2.10, beating estimates of $2.012 per share.

3M (MMM) reported earnings on 10/23/2018 before the market open of $2.58, missing estimates of $2.726 per share.

United Technologies (UTX) reported earnings on 10/23/2018 before the market open of $1.93, beating estimates calling for $1.861 per share.

Verizon (VZ) reports earnings on 10/23/2018 before the market open of $1.22, beating estimates of $1.211 per share.

Boeing (BA) reported earnings on 10/24/2018 before the market open of $3.58, beating estimates calling for $3.513 per share.

Microsoft (MSFT) reports earnings on 10/24/2018 after the market close.

Visa (V) reports earnings on 10/24/2018 after the market close.

Merck (MRK) reports earnings on 10/25/2018 before the market open.

Visa (V) reports earnings on 10/25/2018 after the market close.

Coca Cola (KO) reports earnings on 10/30/2018 before the market open.

Pfizer (PFE) reports earnings on 10/30/2018 before the market open.

Intel (INTC) reports earnings on 11/1/2018 after the market close.

Chevron (CVX) reports earnings on 11/2/2018 after the market close.

Exxon Mobil (XOM) reports earnings on 11/2/2018 after the market close.

Disney (DIS) reports earnings on 11/8/2018 after the market close.

Home Depot (HD) reports earnings on 11/13/2018 before the market open.

Cisco (CSCO) reports earnings on 11/14/2018 after the market close.

Walmart (WMT) reports earnings on 11/15/2018 before the market open.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) is up +5.11% year-to-date.

Financial Calendar

11:00 MBA 30-Year Mortgage Rate, 5.11%, 5.10%

11:00 MBA Mortgage Applications (WoW), 4.9%, -7.1%

11:00 MBA Purchase Index, 228.4, 224.0

11:00 Mortgage Market Index, 337.8, 322.1

11:00 Mortgage Refinance Index 919.6, 838.1

13:00 House Price Index (MoM) (Aug) 0.3%, 0.3%, 0.4%

13:00 House Price Index (YoY) (Aug), 6.1%, 6.6%

13:00 House Price Index (Aug), 266.0, 265.4

26 min Manufacturing PMI (Oct), 55.5, 55.6

26 min Markit Composite PMI, 53.9

26 min Services PMI (Oct), 54.0, 53.5

41 min New Home Sales (MoM) (Sep), -1.4%, 3.5%

41 min New Home Sales (Sep), 625K, 629K

14:30 Crude Oil Inventories, 3.694M, 6.490M

14:30 Crude Oil Imports, 1.012M

14:30 Cushing Crude Oil Inventories, 1.776M

14:30 Distillate Fuel Production, -0.213M

14:30 EIA Weekly Distillates Stocks, -1.927M, -0.827M

14:30 Gasoline Production, 0.719M

14:30 Heating Oil Stockpiles, 1.059M

14:30 Gasoline Inventories , -1.878M, -2.016M

15:30 FOMC Member Bullard Speaks

17:00 5-Year Note Auction, 2.997%

17:00 FOMC Member Bostic Speaks

17:10 FOMC Member Mester Speaks

18:00 Beige Book

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