The Dow Market Happenings For Thursday, July 2, 2020

Dow stocks at 52 week highs include Microsoft (MSFT) closing at 204.70. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +423 points.

Wednesday the Dow was down -77.91 (-0.30%) at 25,734.97.

Year-to-date the Dow is down -9.82%.

There were 9 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Pfizer (PFE) +3.18%, Disney (DIS) +1.35% and Merck (MRK) +1.02%.

The Dow stock losers Wednesday were Walgreens (WBA) -3.56%, Exxon Mobil (XOM) -2.26% and IBM (IBM) -1.85%.

Unemployment insurance weekly claims in the week ending June 27, the advance figure for seasonally adjusted initial claims was 1,427,000, a decrease of 55,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 1,480,000 to 1,482,000. The 4-week moving average was 1,503,750, a decrease of 117,500 from the previous week’s revised average. The previous week’s average was revised up by 500 from 1,620,750 to 1,621,250. The advance seasonally adjusted insured unemployment rate was 13.2 percent for the week ending June 20, unchanged from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 13.4 to 13.2 percent. The advance number for seasonally adjusted insured unemployment during the week ending June 20 was 19,290,000, an increase of 59,000 from the previous week’s revised level. The previous week’s level was revised down by 291,000 from 19,522,000 to 19,231,000. The 4-week moving average was 19,854,000, a decrease of 494,500 from the previous week’s revised average. The previous week’s average was revised down by 72,750 from 20,421,250 to 20,348,500.

The Jobs Report said total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate declined to 11.1 percent. The unemployment rate declined by 2.2 percentage points to 11.1 percent in June, and the number of unemployed persons fell by 3.2 million to 17.8 million. Although unemployment fell in May and June, the jobless rate and the number of unemployed are up by 7.6 percentage points and 12.0 million, respectively, since February.

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

The national average price of gasoline is up one-tenth of a cent at $2.179 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/25/2020 after the market close of -$0.51, missing estimates calling for $0.016 per share.

Walgreens (WBA) reports earnings on 7/9/2020 before the market open.

JPMorgan (JPM) reports earnings on 7/14/2020 before the market open.

Goldman Sachs (GS) reports earnings on 7/15/2020 before the market open.

Today’s Featured Dow Stock

Walgreens (WBA)

Walgreens (WBA) is down -30.67% year-to-date. Walgreens (WBA) YTD low was 36.65 on 5/14/2020.

Financial Calendar

8:30 AM ET Employment Situation

8:30 AM ET International Trade

8:30 AM ET Jobless Claims

10:00 AM ET Factory Orders

10:30 AM ET EIA Natural Gas Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 3-Yr Note Announcement

11:00 AM ET 10-Yr Note Announcement

11:00 AM ET 30-Yr Bond Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET Baker-Hughes Rig Count

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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