The Dow Market Happenings For Wednesday, October 14, 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 +50 points.

Tuesday the Dow was down -157.71 (-0.55%) at 28,679.81.

Year-to-date the Dow is up +0.50%.

There were 7 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Disney (DIS) 128.96 (+3.19%), Walmart (WMT) 146.23 (+1.37%) and Home Depot (HD) 290.36 (+1.20%).

The Dow stock losers Tuesday were led by Travelers (TRV) 112.89 (-3.13%), Boeing (BA) 162.14 (-3.11%) and Apple (AAPL) 121.10 (-2.65%).

Goldman Sachs (GS) posted third-quarter results that crushed analysts’ profit estimates on stronger-than-expected results in bond trading and asset management. The firm generated $3.62 billion in profit, or $9.68 a share, exceeding the $5.57 per share estimate of analysts. Companywide revenue of $10.78 billion topped the estimate by more than $1 billion, driven by the trading and asset management divisions.

UnitedHealth (UNH) earnings per share fell 9.5% to $3.51. Revenue climbed 7.9% to $65.115 billion, led by a 21% jump in revenue for the Optum health services division to $34.9 billion. Analysts expected UnitedHealth earnings of $2.98 a share, down 23% vs. a year earlier. Revenue was seen rising 5.7% to $63.79 billion.

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

The national average price of gasoline is down one-tenth of a cent at $2.180 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%) reported earnings on Tuesday 10/13/2020 before the market open of $2.20, beating estimates calling for $1.987 per share.

JPMorgan (JPM) 96.27 (+0.96%) reported earnings on Tuesday 10/13/2020 before the market open of $2.92, beating estimates calling for $2.353 per share.

Goldman Sachs (GS) reported earnings on Wednesday 10/14/2020 before the market open of $9.68, beating estimates calling for $5.57 per share.

UnitedHealth (UNH) reported earnings on Wednesday 10/14/2020 before the market open of $3.51, beating estimates of $2.981 per share.

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.

Verizon (VZ) reports earnings on Wednesday 10/21/2020 before the market open.

Microsoft (MSFT) reports earnings on Wednesday 10/21/2020 after the market close.

Dow (DOW) reports earnings on Thursday 10/22/2020 before the market open.

Coca Cola (KO) reports earnings on Thursday 10/22/2020 before the market open.

Intel (INTC) reports earnings on Thursday 10/22/2020 after the market close.

American Express (AXP) reports earnings on Friday 10/23/2020 before the market open.

Honeywell (HON) reports earnings on Friday 10/23/2020 before the market open.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) 125.10 (-1.66%) is down -6.67% year-to-date. IBM (IBM) YTD low was 90.56 on 3/23/2020. IBM has provided a +38.14% gain off the YTD low.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:30 AM ET PPI-Final Demand

10:00 AM ET Atlanta Fed Business Inflation Expectations

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