DJIA Market Happenings For Wednesday, August 5, 2020

Dow stocks hitting 52 week highs include Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +175 points.

Tuesday the Dow was up +164.07 (+0.62%) at 26,828.47.

Year-to-date the Dow is down -5.99%.

There were 20 Dow stocks up Tuesday.

The Dow stock winners Monday were led by Dow (DOW) 41.32 (+3.07%), Exxon Mobil (XOM) 43.47 (+2.89%) and McDonald’s (MCD) 199.36 (+2.55%).

The Dow stock losers Monday were led by Microsoft (MSFT) 213.29 (-1.50%), Travelers (TRV) 113.10 (-1.14%) and Merck (MRK) 81.67 (-1.05%).

U.S. stock futures pointed to solid gains Wednesday amid strong earnings from Disney and hope that U.S. lawmakers can reach a deal on coronavirus stimulus relief by the end of this week

Disney (DIS) rose more than 6% in the premarket after the media giant eked out a small profit even as the coronavirus pandemic dented sectors like its park business.

A Bank of America analyst downgraded Apple (AAPL) to neutral from buy as the stock was approaching a whopping $2 trillion market capitalization. The analyst, Wamsi Mohan, cited Apple’s “highest premium” to the S&P 500 in a decade, higher costs to produce 5G iPhones and potential antitrust regulation over the company’s App Store among the risks the tech giant faces. Apple shares dipped 0.4% in the premarket. Friday we get the Jobs Report.

ADP reported Wednesday that private payrolls increased by only 167,000 jobs in July, well below the 1 million expected by economists and a tumble from the 4.314 million created in June.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is unchanged 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) reported earnings on 7/9/2020 before the market open of $0.83, missing estimates calling for $1.103 per share.

JPMorgan (JPM) reported earnings on 7/14/2020 before the market open of $1.38, beating estimates calling for $1.336 per share.

Goldman Sachs (GS) reported earnings on 7/15/2020 before the market open of $6.26, beating estimates calling for $3.972 per share.

UnitedHealth (UNH) reported earnings on 7/15/2020 before the market open of $7.12, beating estimates calling for $5.158 per share.

Johnson & Johnson (JNJ) reported earnings on 7/16/2020 before the market open of $1.67, beating estimates calling for $1.496 per share.

IBM (IBM) reported earnings on 7/20/2020 after the market close of $2.18, beating estimates calling for $2.136 per share.

Coca Cola (KO) reported earnings on 7/21/2020 before the market open of $0.42, beating estimates calling for $0.404 per share.

Microsoft (MSFT) reported earnings on 7/22/2020 after the market close of $1.46, beating estimates calling for $1.384 per share.

Dow (DOW) reported earnings on 7/23/2020 before the market open of -$0.26, beating estimates of -$0.296 per share.

Travelers (TRV) reported earnings on 7/23/2020 before the market open of -$0.20, meeting estimates of -$0.20 per share.

Intel (INTC) reported earnings on 7/23/2020 after the market close of $1.23, beating estimates calling for $1.105 per share.

American Express (AXP) reported earnings on 7/24/2020 before the market open of $0.29, beating estimates calling for $0.131 per share.

Verizon (VZ) reported earnings on 7/24/2020 before the market open of $1.18, beating estimates calling for $1.156 per share.

McDonald’s (MCD) reported earnings on 7/28/2020 before the market open of $0.66, missing estimates of $0.764 per share.

3M (MMM) reported earnings on 7/28/2020 before the market open of $1.78, missing estimates calling for $1.766 per share.

Pfizer (PFE) reported earnings on 7/28/2020 before the market open of $0.78, missing estimates calling for $0.64 per share.

Raytheon Technologies (RTX) reported earnings on 7/28/2020 before the market open of $0.40, beating estimates of $0.104 per share.

Visa (V) reported earnings on 7/28/2020 after the market close of $1.06, beating estimates calling for $1.022 per share.

Boeing (BA) reported earnings on 7/29/2020 before the market open of -$4.79, missing estimates calling for -$2.925 per share.

Procter & Gamble (PG) reported earnings on 7/30/2020 before the market open of $1.16, beating estimates of $1.006 per share.

Apple (AAPL) reported earnings on 7/30/2020 after the market close of $2.58, beating estimates calling for $2.025 per share.

Caterpillar (CAT) reported earnings on 7/31/2020 before the market open of $1.03, beating estimates of $0.658 per share.

Chevron (CVX) reported earnings on 7/31/2020 before the market open of -$4.44, missing estimates of -$0.926 per share.

Merck (MRK) reported earnings on 7/31/2020 before the market open of $1.37, beating estimates of $1.14 per share.

Exxon Mobil (XOM) reported earnings on 7/31/2020 before the market open of $-$0.26, beating estimates of -$0.632 per share.

Disney (DIS) reported earnings on 8/4/2020 after the market close of $0.08, beating estimates calling for -$0.432 per share.

Cisco (CSCO) reports earnings on 8/12/2020 after the market close.

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) is up +7.12% year-to-date. Procter & Gamble (PG) YTD low was 94.34 on 3/23/2020. That’s a +41.82% gain off the YTD low.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:15 AM ET ADP Employment Report

8:30 AM ET International Trade

8:30 AM ET Treasury Refunding Announcement

9:45 AM ET PMI Services Index

10:00 AM ET ISM Non-Manufacturing Index

10:30 AM ET EIA Petroleum Status Report

11:00 AM ET 3-Yr Note Announcement

11:00 AM ET 10-Yr Note Announcement

11:00 AM ET 30-Yr Bond Announcement

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