DJIA Market Happenings For Wednesday, February 26, 2020

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include Chevron (CVX), Cisco (CSCO), 3M (MMM), Pfizer (PFE), Exxon Mobil (XOM) and Walgreens (WBA).

The Market

Premarket today, the Dow was indicated to open up +183 points.

Tuesday the Dow was down -8790.44 (-3.15%) at 27,081.36 That’s -1911.05 (-6.59%) in two days of trading all thanks to the coronavirus.

Year-to-date the Dow is down -5.11%.

There were again, zero Dow stocks up Tuesday.

The Dow stock winners Tuesday were again, not to be found.

The Dow stock losers Tuesday were led by American Express (AXP) -5.69% (-4.97% yesterday), United Technologies (UTX) -5.30%, Visa (V) -5.23%, UnitedHealth (UNH) -5.18% (-7.84% yesterday), Dow (DOW) -4.95% and JPMorgan (JPM) -4.46%.

Coronavirus infections outside China continue to rise at an alarming rate, with South Korea reporting 169 more cases and one additional death. South Korea’s total cases are nearing 1,150 with 11 fatalities. The spread in Italy remains a key concern for Europe. In China, the epicenter of the virus, it has more than 78,000 cases and 2,715 deaths. The Hong Kong government announced $15.4 billion worth of measures to support its economy during the outbreak, including a $1,283 cash payout to all adult Hong Kong residents.

The CDC said Tuesday, “We’re not seeing community spread here in the United States, yet, but it’s very possible, even likely, that it may eventually happen.”

Shares of Disney (DIS) were down 2% in the premarket after the media and parks conglomerate announced a CEO change late Tuesday.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is unchanged at $2.472 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Walmart (WMT)

Walmart (WMT) is down -1.18% year-to-date.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

10:00 AM ET New Home Sales

10:00 AM ET State Street Investor Confidence Index

10:30 AM ET EIA Petroleum Status Report

11:00 AM ET Survey of Business Uncertainty

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