DJIA Market Happenings For Thursday, October 1, 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 up +144 points.

Wednesday the Dow was up +329.04 (+1.20%) at 27,781.70.

Year-to-date the Dow is down -2.65%.

There were 28 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by American Express (AXP) 100.25 (+2.56%), UnitedHealth (UNH) 311.77 (+2.51%), Amgen (AMGN) 254.16 (+2.36%) and Goldman Sachs (GS) 200.97 (+2.12%).

The Dow stock losers Wednesday were Disney (DIS) 124.08 (-1.05%) and Nike (NKE) 125.54 (-0.64%).

American Airlines (AAL) and United Airlines (UAL) announced they will cut a total of 32,000 jobs.

Goldman Sachs (GS) is resuming layoffs, which had been paused. The investment bank plans to eliminate about 400 positions, or less than 1% of its workforce.

Unemployment insurance weekly claims in the week ending September 26, the advance figure for seasonally adjusted initial claims was 837,000, a decrease of 36,000 from the previous week’s revised level. The previous week’s level was revised up by 3,000 from 870,000 to 873,000. The 4-week moving average was 867,250, a decrease of 11,750 from the previous week’s revised average. The previous week’s average was revised up by 750 from 878,250 to 879,000. The advance seasonally adjusted insured unemployment rate was 8.1 percent for the week ending September 19, a decrease of 0.6 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 19 was 11,767,000, a decrease of 980,000 from the previous week’s revised level. The previous week’s level was revised up 167,000 from 12,580,000 to 12,747,000. The 4-week moving average was 12,701,250, a decrease of 381,250 from the previous week’s revised average. The previous week’s average was revised up by 41,750 from 13,040,750 to 13,082,500. NOTE: The total number of people claiming benefits in all programs for the week ending September 12 was 26,529,810, an increase of 484,856 from the previous week. There were 1,423,884 persons claiming benefits in all programs in the comparable week in 2019.

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

The national average price of gasoline is up three-tenths of a cent at $2.191 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]

Johnson & Johnson (JNJ) 148.88 (+1.24%) reports earnings on Tuesday 10/13/2020 before the market open.

JPMorgan (JPM) 96.27 (+0.96%) reports earnings on Tuesday 10/13/2020 before the market open.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 163.60 (-1.49%) is up +1.0% year-to-date. Caterpillar (CAT) YTD low was 87.50 on 3/12/2020. Caterpillar has provided a +70.46% gain off the YTD low.

Financial Calendar

7:30 AM ET Challenger Job-Cut Report

8:30 AM ET Jobless Claims

8:30 AM ET Personal Income and Outlays

9:45 AM ET PMI Manufacturing Final

10:00 AM ET ISM Manufacturing Index

10:00 AM ET Construction Spending

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Global Manufacturing PMI

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 52-Week 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

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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