The Dow Market Happenings For Thursday, August 1, 2019

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +17 points.

Wednesday the Dow was down -333.75 (-1.23%) at 26,864.27.

Year-to-date the Dow is up +15.16%.

There were 4 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Apple (AAPL) +2.04%, JPMorgan (JPM) +0.35% and Pfizer (PFE) +0.13%. Note: Pfizer (PFE) was Tuesday’s biggest loser, down -6.42%.

The Dow stock losers Wednesday were led by Microsoft (MSFT) -2.91%, Verizon (VZ) -2.40% and UnitedHealth (UNH) -2.32%.

Yesterday the Fed lowered rates a quarter point, to a range of 2% to 2.25% and Chairman Jerome Powell said the cut was a “mid-cycle adjustment,” suggesting the decision may not be followed by other cuts.

Unemployment insurance weekly claims in the week ending July 27, the advance figure for seasonally adjusted initial claims was 215,000, an increase of 8,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 206,000 to 207,000. The 4-week moving average was 211,500, a decrease of 1,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 213,000 to 213,250. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 20, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 20 was 1,699,000, an increase of 22,000 from the previous week’s revised level. The previous week’s level was revised up 1,000 from 1,676,000 to 1,677,000. The 4-week moving average was 1,698,250, an increase of 750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 1,697,250 to 1,697,500.

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

The national average price of gasoline is down two-tenths of a cent at $2.719 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 6/27/2019 before the market open of $1.47, beating estimates calling for $1.46 per share.

Nike (NKE) reported earnings on 6/27/2019 after the market close of $0.62, missing estimates calling for $0.698 per share.

Goldman Sachs (GS) reported earnings on 7/16/2019 before the market open of $5.81, beating estimates of $5.149 per share.

Johnson & Johnson (JNJ) reported earnings on 7/16/2019 before the market open of $2.58, beating estimates of $2.436 per share.

JPMorgan (JPM) reported earnings on 7/16/2019 before the market open of $2.82, beating estimates of $2.568 per share.

IBM (IBM) reported earnings on 7/17/2019 after the market close of $3.17, beating estimates of $3.078 per share.

UnitedHealth (UNH) reported earnings on 7/18/2019 before the market open of $3.60, beating estimates of $3.528 per share.

Microsoft (MSFT) reported earnings on 7/18/2019 after the market close of $1.37, beating estimates of $1.249 per share.

American Express (AXP) reported earnings on 7/19/2019 before the market open of $2.07, meeting estimates of $2.069 per share.

Coca Cola (KO) reported earnings on 7/23/2019 before the market open of $0.63, meeting estimates of $0.629 per share.

Travelers (TRV) reported earnings on 7/23/2019 before the market open of $2.02, missing estimates calling for $2.374 per share.

United Technologies (UTX) reported earnings on 7/23/2019 before the market open of $2.20, beating estimates of $2.082 per share.

Visa (V) reported earnings on 7/23/2019 after the market close of $1.37, beating estimates calling for $1.363 per share.

Boeing (BA) reported earnings on 7/24/2019 before the market open of -$5.82, missing estimates calling for $1.133 per share.

Caterpillar (CAT) reported earnings on 7/24/2019 before the market open of $2.83, missing estimates calling for $3.152 per share.

3M (MMM) reported earnings on 7/25/2019 before the market open of $2.20, beating estimates calling for $2.07 per share.

Dow (DOW) reported earnings on 7/25/2019 before the market open of $0.86 per share.

Intel (INTC) reports earnings on 7/25/2019 after the market close of $1.06, beating estimates calling for $0.908 per share.

McDonald’s (MCD) reported earnings on 7/26/2019 before the market open of $1.97, missing estimates calling for $2.092 per share.

Merck (MRK) reported earnings on 7/30/2019 before the market open of $1.30, beating estimates of $1.182 per share.

Procter & Gamble (PG) reported earnings on 7/30/2019 before the market open of $1.10, beating estimates of $1.079 per share.

Pfizer (PFE) reported earnings on 7/30/2019 before the market open of $0.80, beating estimates of $0.789 per share.

Apple (AAPL) reported earnings on 7/30/2019 after the market close of $2.18, barely beating estimates calling for $2.172 per share.

Verizon (VZ) reported earnings on 8/1/2019 before the market open of $1.23, beating estimates calling for $1.22 per share.

Chevron (CVX) reports earnings on 8/2/2019 before the market open.

Exxon Mobil (XOM) reports earnings on 8/2/2019 before the market open.

Disney (DIS) reports earnings on 8/6/2019 after the market close.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) is up +27.86% year-to-date.

Financial Calendar

7:30 AM ET Challenger Job-Cut Report

8:30 AM ET Jobless Claims

9:45 AM ET PMI Manufacturing Index

10:00 AM ET ISM Mfg Index

10:00 AM ET Construction Spending

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Global Manufacturing PMI

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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