DJIA Market Happenings For Thursday, October 15, 2020

Dow stocks hitting 52 week highs include Caterpillar (CAT) and McDonald’s (MCD). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -345 points.

Wednesday the Dow was down -165.81 (-165.81) at 28,514.00.

Year-to-date the Dow is down -0.09%.

There were 10 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Dow (DOW) 48.83 (+1.98%), Honeywell (HON) 173.47 (+1.12%) and 3M (MMM) 168.40 (+1.06%).

The Dow stock losers Wednesday were led by UnitedHealth (UNH) 321.85 (-2.89%), Salesforce (CRM) 261.83 (-1.87%) and Disney (DIS) 126.59 (-1.84%).

Walgreens (WBA) shares jumped in premarket trading Thursday, after the drugstore services company reported a fiscal fourth-quarter profit that fell less than expected, while revenue rose above forecasts.

Unemployment insurance weekly claims in the week ending October 10, the advance figure for seasonally adjusted initial claims was 898,000, an increase of 53,000 from the previous week’s revised level. The previous week’s level was revised up by 5,000 from 840,000 to 845,000. The 4-week moving average was 866,250, an increase of 8,000 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 857,000 to 858,250. The advance seasonally adjusted insured unemployment rate was 6.8 percent for the week ending October 3, a decrease of 0.9 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.2 from 7.5 to 7.7 percent. The advance number for seasonally adjusted insured unemployment during the week ending October 3 was 10,018,000, a decrease of 1,165,000 from the previous week’s revised level. The previous week’s level was revised up 207,000 from 10,976,000 to 11,183,000. The 4-week moving average was 11,481,750, a decrease of 682,250 from the previous week’s revised average. The previous week’s average was revised up by 51,750 from 12,112,250 to 12,164,000. The total number of people claiming benefits in all programs for the week ending September 26 was 25,290,325, a decrease of 215,270 from the previous week. There were 1,415,539 persons claiming benefits in all programs in the comparable week in 2019.

Concern about the impact of rising numbers of COVID-19 cases and fading hopes for any further fiscal stimulus from Congress before the November elections are weighing on markets this morning, while third quarter earnings reporting rolls on with mixed results.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is down two-tenths of a cent at $2.178 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) reported earnings on Thursday 10/15/2020 before the market open of $1.02, beating estimates of $0.96 per share.

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.

3M (MMM) reports earnings on Tuesday 10/27/2020 before the market open.

Merck (MRK) reports earnings on Tuesday 10/27/2020 before the market open.

Microsoft (MSFT) reports earnings on Tuesday 10/27/2020 after the market close.

Today’s Featured Dow Stock

Intel (INTC)

Intel (INTC) 53.55 (-0.52%) is down -10.53% year-to-date. Intel (INTC) YTD low was 43.63 on 3/16/2020. Intel has provided a +22.74% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET Philadelphia Fed Manufacturing Index

8:30 AM ET Empire State Manufacturing Index

8:30 AM ET Import and Export Prices

10:30 AM ET EIA Natural Gas Report

11:00 AM ET EIA Petroleum Status Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 5-Yr TIPS Announcement

11:00 AM ET 20-Yr Bond Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

2:00 PM ET Treasury Statement

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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