DJIA Market Happenings For Thursday, September 16, 2020

There are no Dow stocks hitting 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -165 points.

Wednesday the Dow was up +36.78 (+0.13%) at 28,032.38.

Year-to-date the Dow is down -1.77%.

There were 14 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Chevron (CVX) 78.56 (+2.89%), Walgreens (WBA) 36.28 (+2.86%) and Boeing (BA) 167.46 (+2.43%).

The Dow stock losers Wednesday were led by Apple (AAPL) 112.13 (-2.95%), Dow (DOW) 49.70 (-2.68%) and Microsoft (MSFT) 205.05 (-1.79%).

Unemployment insurance weekly claims in the week ending September 12, the advance figure for seasonally adjusted initial claims was 860,000, a decrease of 33,000 from the previous week’s revised level. The previous week’s level was revised up by 9,000 from 884,000 to 893,000. The 4-week moving average was 912,000, a decrease of 61,000 from the previous week’s revised average. The previous week’s average was revised up by 2,250 from 970,750 to 973,000. The advance seasonally adjusted insured unemployment rate was 8.6 percent for the week ending September 5, a decrease of 0.7 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.1 from 9.2 to 9.3 percent. The advance number for seasonally adjusted insured unemployment during the week ending September 5 was 12,628,000, a decrease of 916,000 from the previous week’s revised level. The previous week’s level was revised up 159,000 from 13,385,000 to 13,544,000. The 4-week moving average was 13,489,000, a decrease of 532,750 from the previous week’s revised average. The previous week’s average was revised up by 39,750 from 13,982,000 to 14,021,750.

Yesterday the Fed released its most recent policy update and kept its benchmark interest rate at a range between 0% and 0.25%, some investors believe that the U.S. central bank Chairman Jerome Powell may have unsettled the stock market by emphasizing the challenges that the U.S. economy faces as it attempts to emerge from recession brought on by the coronavirus pandemic. The Fed said it expected interest rates would stay near zero until at least 2023 but also signaled that the road ahead for the economy could be a long one, despite the run-up in equity values this year, as the U.S. is still dealing with millions of people who are unemployed.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is unchanged at $2.182 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/22/2020 after the market close. [Closed at $114.90, +1.93% on 9/9/2020]

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 113.17 (+0.91%) is down -17.36% year-to-date. Travelers (TRV) YTD low was 76.99 on 3/18/2020. Travelers has provided a +46.99% gain off the YTD low.

Financial Calendar

8:30 AM ET Housing Starts and Permits

8:30 AM ET Jobless Claims

8:30 AM ET Philadelphia Fed Manufacturing Index

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 2-Yr FRN Note Announcement

11:00 AM ET 2-Yr Note Announcement

11:00 AM ET 5-Yr Note Announcement

11:00 AM ET 7-Yr Note Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 10-Yr TIPS Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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