The Dow Market Happenings For Thursday, September 24, 2020

Dow stocks hitting 52 week highs include Nike (NKE). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -173 points.

Wednesday the Dow was down -525.05 (-1.92%) at 26,763.13.

Year-to-date the Dow is down -6.22%.

There were 2 Dow stocks up Wednesday.

The Dow stock winners Wednesday were Nike (NKE) 127.11 (+8.76%) and Johnson & Johnson (JNJ) 144.44 (+0.16%).

The Dow stock losers Wednesday were led by Salesforce (CRM) 235.99 (-4.76%), Chevron (CVX) 71.95 (-4.74%), Apple (AAPL) 107.12 (-4.19%), Boeing (BA) 151.18 (-3.58%) and (Microsoft (MSFT) 200.59 (-3.29%).

Unemployment insurance weekly claims in the week ending September 19, the advance figure for seasonally adjusted initial claims was 870,000, an increase of 4,000 from the previous week’s revised level. The previous week’s level was revised up by 6,000 from 860,000 to 866,000. The 4-week moving average was 878,250, a decrease of 35,250 from the previous week’s revised average. The previous week’s average was revised up by 1,500 from 912,000 to 913,500. The advance seasonally adjusted insured unemployment rate was 8.6 percent for the week ending September 12, a decrease of 0.1 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.1 from 8.6 to 8.7 percent. The advance number for seasonally adjusted insured unemployment during the week ending September 12 was 12,580,000, a decrease of 167,000 from the previous week’s revised level. The previous week’s level was revised up 119,000 from 12,628,000 to 12,747,000. The 4-week moving average was 13,040,750, a decrease of 478,000 from the previous week’s revised average. The previous week’s average was revised up by 29,750 from 13,489,000 to 13,518,750.

The U.S. had more than 37,300 new cases of Covid-19 on Wednesday, down from Monday’s nearly one month high of 52,000. New deaths of nearly 1,100 on Wednesday marked the first day with over 1,000 fatalities since Sept. 15. At a Senate hearing Wednesday, CDC Director Dr. Robert Redfield said, “A majority of our nation, more than 90% of the population, remains susceptible” to the coronavirus.

Disney (DIS) lost 3% on Wednesday after the company moved a number of its movies to later this year and into 2021 as Americans continue to avoid indoor movie theaters during the pandemic. The much-anticipated Marvel blockbuster “Black Widow” was postponed six months to May. “West Side Story” was moved back a year to December 2021.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is up three-tenths of a cent at $2.196 per gallon.

Earnings Reports

Nike (NKE) 116.87 (+3.09%) reported earnings on 9/22/2020 after the market close of $0.95, beating estimates calling for $0.458 per share. Last I checked it was trading at 132.15 in after-hours. [Closed at $114.90, +1.93% on 9/9/2020]

Today’s Featured Dow Stock

Walmart (WMT)

Walmart (WMT) 135.99 (-1.68%) is up +14.43% year-to-date. Walmart (WMT) YTD low was 102.00 on 3/16/2020. Walmart has provided a +33.32% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

10:00 AM ET New Home Sales

10:00 AM ET Jerome Powell Speaks

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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