The Dow Market Happenings For Thursday, October 7, 2020

Dow stocks hitting 52 week highs included UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +168 points.

Wednesday the Dow was up +530.70 (+1.91%) at 28,303.46.

Year-to-date the Dow is down -0.82%.

All 30 Dow stocks were up Wednesday.

The Dow stock winners Wednesday were led by Salesforce (CRM) 259.98 (+3.93%), Boeing (BA) 164.61 (+3.18%), Honeywell (HON) 171.55 (+2.749%), UnitedHealth (UNH) +2.77%), 3M (MMM) 166.49 (+2.63%) and Intel (INTC) 52.67 (+2.53%).

The Dow stock losers Wednesday were not to be found.

Unemployment insurance weekly claims in the week ending October 3, the advance figure for seasonally adjusted initial claims was 840,000, a decrease of 9,000 from the previous week’s revised level. The previous week’s level was revised up by 12,000 from 837,000 to 849,000. The 4-week moving average was 857,000, a decrease of 13,250 from the previous week’s revised average. The previous week’s average was revised up by 3,000 from 867,250 to 870,250. The advance seasonally adjusted insured unemployment rate was 7.5 percent for the week ending September 26, 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 8.1 to 8.2 percent. The advance number for seasonally adjusted insured unemployment during the week ending September 26 was 10,976,000, a decrease of 1,003,000 from the previous week’s revised level. The previous week’s level was revised up 212,000 from 11,767,000 to 11,979,000. The 4-week moving average was 12,112,250, a decrease of 642,000 from the previous week’s revised average. The previous week’s average was revised up by 53,000 from 12,701,250 to 12,754,250. The total number of people claiming benefits in all programs for the week ending September 19 was 25,505,499, a decrease of 1,003,179 from the previous week. There were 1,407,308 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 four-tenths of a cent at $2.187 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.

Goldman Sachs (GS) reports earnings on Wednesday 10/14/2020 before the market open.

UnitedHealth (UNH) reports earnings on Wednesday 10/14/2020 before the market open.

Walgreens (WBA) reports earnings on Thursday 10/15/2020 before the market open.

IBM (IBM) reports earnings on Monday 10/19/2020 after the market close.

Procter & Gamble (PG) reports earnings on Tuesday 10/20/2020 before the market open.

Travelers (TRV) reports earnings on Tuesday 10/20/2020 before the market open.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 48.30 (+0.88%) is down -11.75% year-to-date. Dow (DOW) YTD low was 21.95 on 3/16/2020. Dow has provided a +120.05% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

10:30 AM ET EIA Natural Gas Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 30-Yr Bond Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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