DJIA Market Happenings For Thursday, June 25, 2020

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 down -180 points.

Wednesday the Dow was down -710.16 (-2.72%) at 25,445.94.

Year-to-date the Dow is down -10.84%.

There were no Dow stocks up Wednesday.

The Dow stock winners Wednesday were not to be found

The Dow stock losers Wednesday were led by Dow (DOW) -7.01%, Boeing (BA) -5.96%, Exxon Mobil (XOM) -4.71%, Raytheon Technologies (RTX) -4.37%, Chevron (CVX) -4.16% and American Express (AXP) -3.96%.

Unemployment insurance weekly claims in the week ending June 20, the advance figure for seasonally adjusted initial claims was 1,480,000, a decrease of 60,000 from the previous week’s revised level. The previous week’s level was revised up by 32,000 from 1,508,000 to 1,540,000. The 4-week moving average was 1,620,750, a decrease of 160,750 from the previous week’s revised average. The previous week’s average was revised up by 8,000 from 1,773,500 to 1,781,500. The advance seasonally adjusted insured unemployment rate was 13.4 percent for the week ending June 13, a decrease of 0.5 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 14.1 to 13.9 percent. The advance number for seasonally adjusted insured unemployment during the week ending June 13 was 19,522,000, a decrease of 767,000 from the previous week’s revised level. The previous week’s level was revised down by 255,000 from 20,544,000 to 20,289,000. The 4 week moving average was 20,421,250, a decrease of 329,750 from the previous week’s revised average. The previous week’s average was revised down by 63,750 from 20,814,750 to 20,751,000. The total number of people claiming benefits in all programs for the week ending June 6 was 30,553,817, an increase of 1,294,309 from the previous week. There were 1,546,208 persons claiming benefits in all programs in the comparable week in 2019.

The U.S. economy entered recession in February, a month ahead of the pandemic declaration, according to the National Bureau of Economic Research. Gross domestic product contracted 5% in the first quarter, the Commerce Department reported Thursday, and the plunge in the second quarter is expected to be far worse.

More than 45,000 new coronavirus cases were confirmed on Wednesday, a record that surpassed the previous April 26 peak by over 9,000 cases. States such as Texas, Florida, California and Arizona have all seen major spikes. New York, New Jersey and Connecticut also ordered visitors from certain hot-spot states to quarantine for 14 days.

Disney (DIS) is delaying the phased reopening of Disneyland in California, which had been set to welcome back guests on July 17.

Apple (AAPL) said it would shutter seven stores that had reopened in Houston, Texas, days after it closed 11 stores across Florida, North Carolina, South Carolina and Arizona.

Florida, Texas and California, the three most populous US states, have announced record surges in cases this week. If the case trajectory continues in Houston, it could be the hardest-hit city in the United States.

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

The national average price of gasoline is up 1.4 cents at $2.171 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 6/25/2020 after the market close.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) is down -5.74% year-to-date. Travelers (TRV) YTD low was 94.34 on 3/23/2020. That’s a +24.79% gain from the 2020 low.

Financial Calendar

8:30 AM ET Durable Goods Orders

8:30 AM ET GDP

8:30 AM ET International Trade in Goods

8:30 AM ET Jobless Claims

8:30 AM ET Corporate Profits

8:30 AM ET Retail Inventories [Advance]

8:30 AM ET Wholesale Inventories [Advance]

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Kansas City Fed Manufacturing Index

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 7-Yr Note Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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