The Dow Market Happenings For Tuesday, October 29, 2019

Dow stocks at 52 week highs include Apple (AAPL), JPMorgan (JPM), Microsoft (MSFT) and United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -42 points.

Monday the Dow was up +132.66 (+0.49%) at 27,090.72. The Dow is still about 1% below its record set on July 15.

Year-to-date the Dow is up +16.13%.

There were 21 Dow stocks up Monday.

The Dow stock winners Monday were led by Microsoft (MSFT) +2.46%, 3M (MMM) +1.79% and Goldman Sachs (GS) +1.64%.

The Dow stock losers Monday were led by McDonald’s (MCD) -1.45%, Exxon Mobil (XOM) -0.88% and Travelers (TRV) -0.87%.

The Fed begins two-day FOMC meeting.

The S&P 500 index closed at an all-time high Monday, closing at 3,039.42, around 14 points above its previous record set on July 26. The Nasdaq climbed 82.87 points, or 1%, to 8,325.99. The Russell 2000 index of smaller company stocks picked up 13.22 points, or 0.9%, to 1,571.93.

Dow Jones pharmaceutical companies Merck (MRK) and Pfizer (PFE) comfortably beat third-quarter earnings estimates early Tuesday. In premarket trading on the stock market today, Merck stock and Pfizer stock rose roughly 3% before the open. Merck earnings were $1.51 per share, on an adjusted basis, on $12.4 billion in sales. In the year-earlier period, Merck earnings were $1.19 per share and revenue was $10.79 billion. Analysts expected Merck earnings of $1.25 per share on $11.7 billion in sales. For the year, Merck guided to earnings of $5.12 – $5.17 a share on sales of $46.5 billion to $47 billion. Analysts expected Merck to earn $4.19 per share on $46.03 billion in sales. Pfizer reported adjusted income of 75 cents per share on $12.68 billion in sales. In the year-ago quarter, Pfizer earnings were 78 cents a share on $13.3 billion in sales. Analysts expected Pfizer earnings of 63 cents per share and $12.15 billion in sales. For the year, Pfizer guided to earnings of $2.94-$3 a share on revenue of $51.2 billion to $52.2 billion. The Street projected Pfizer earnings of $2.81 per share on $50.97 billion in sales.

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

The national average price of gasoline is down one-tenth of a cent at $2.602 per gallon.

Earnings Reports

Goldman Sachs (GS) reported earnings on 10/15/2019 before the open of $4.79, missing estimates calling for $4.81 per share.

Johnson & Johnson (JNJ) reported earnings on 10/15/2019 before the open of $2.12, beating estimates calling for $2.048 per share.

JPMorgan (JPM) reported earnings on 10/15/2019 before the open of $2.68, beating estimates calling for $2.483 per share.

UnitedHealth (UNH) reported earnings on 10/15/2019 before the open of $3.88, beating estimates of $3.783 per share.

IBM (IBM) reported earnings on 10/16/2019 after the market close of $2.68, just missing estimates calling for $2.69 per share.

American Express (AXP) reported earnings on 10/18/2019 before the market open of $2.08, just missing estimates calling for $2.084 per share.

Coca Cola (KO) reported earnings on 10/18/2019 before the market open of $0.56, missing estimates calling for $0.577 per share.

United Technologies (UTX) reported earnings on 10/22/2019 before the market open of $2.21, beating estimates of $2.08 per share.

Procter & Gamble (PG) reported earnings on 10/22/2019 before the market open of $1.39, beating estimates of $1.258 per share.

McDonald’s (MCD) reported earnings on 10/22/2019 before the market open of $2.11, missing estimates calling for $2.233 per share.

Travelers (TRV) reported earnings on 10/22/2019 before the market open of $1.43, missing estimates calling for $2.379 per share.

Boeing (BA) reported earnings on 10/23/2019 before the market open of $1.45, missing estimates of $2.205 per share.

Caterpillar (CAT) reported earnings on 10/23/2019 before the market open of $2.66, missing estimates calling for $2.854 per share.

Microsoft reported earnings on 10/23/2019 after the market close of $1.38, beating estimates calling for $1.306 per share.

Dow (DOW) reported earnings on 10/24/2019 before the market open of $0.91 per share.

3M (MMM) reported earnings on 10/24/2019 before the market open of $2.72, beating estimates calling for $2.454 per share.

Intel (INTC) reported earnings on 10/24/2019 after the market close of $1.42, beating estimates of $1.275 per share.

Visa (V) reported earnings on 10/24/2019 after the market close of $1.47, beating estimates of $1.458 per share.

Verizon (VZ) reported earnings on 10/25/2019 before the market open of $1.25, pretty much meeting estimates calling for $1.254 per share.

Walgreens (WBA) reported earnings on 10/28/2019 before the market open of $1.43, missing estimates calling for $1.451 per share.

Merck (MRK) reported earnings on 10/29/2019 before the market open of $1.51, beating estimates of $1.28 per share.

Pfizer (PFE) reported earnings on 10/29/2019 before the market open of $0.75, beating estimates calling for $0.644 per share.

Apple (AAPL) reports earnings on 10/30/2019 after the market close.

Chevron (CVX) reports earnings on 11/1/2019 before the market open.

Exxon Mobil (XOM) reports earnings on 11/1/2019 before the market open.

Disney (DIS) reports earnings on 11/7/2019 after the market close.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) is up +19.04% year-to-date.

Financial Calendar

8:55 AM ET Redbook

9:00 AM ET S&P Corelogic Case-Shiller HPI

10:00 AM ET Consumer Confidence

10:00 AM ET Pending Home Sales Index

You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.