The Dow Market Happenings For Tuesday, October 20, 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 +113 points.

Monday the Dow was down -410.89 (-1.44%) at 28,195.42.

Year-to-date the Dow is down -1.20%.

There was 1 Dow stock up Monday.

The lone Dow stock winner Monday was Intel (INTC) 54.58 (-0.78%).

The Dow stock losers Monday were led by Johnson & Johnson (JNJ) 144.32 (-2.55%), Microsoft (MSFT) 214.22 (-2.48%), American Express (AXP) 102.47 (-2.33%), Chevron (CVX) 71.28 (-2.21%) and Cisco (CSCO) 39.30 (-2.14%).

Travelers (TRV) shares jumped 3% in premarket trading. The property and casualty insurer beat estimates with adjusted third-quarter per-share earnings of $3.12 and revenue of $7.77 billion.

Procter & Gamble (PG) shares rose 1.7% in the premarket after the consumer products giant Tuesday morning reported better-than-expected adjusted fiscal first-quarter earnings of $1.63 per share. Revenue, which also beat estimates, rose 9% to $19.32 billion, fueled by demand for its cleaning and laundry products during the coronavirus outbreak. P&G also raised its sales outlook for fiscal 2021.

After the bell Monday, IBM reported adjusted third-quarter earnings of $2.58 per share, matching forecasts. While revenue of $17.56 billion slightly beat estimates due to higher demand for cloud services, sales did decline for the third straight quarter. IBM also declined to issue fourth-quarter outlook due to pandemic-related uncertainty. Shares fell 3% in premarket trading.

Pelosi’s 48-hour deadline for a coronavirus relief deal before the Nov. 3 election about to expire, the California Democrat and Treasury Secretary Steven Mnuchin plan to speak again Tuesday. The speaker’s office said Monday that Pelosi and Mnuchin have made some progress in recent negotiations. House Democrats most recently passed a $2.2 trillion bill, while the White House has put forward a nearly $1.9 trillion proposal. Senate Republicans, who want a much smaller aid package than what’s under discussion, could oppose any possible Pelosi-Mnuchin agreement. The Senate is expected to vote Tuesday on a stand-alone Paycheck Protection Program funding bill ahead of a planned vote as soon as Wednesday on a roughly $500 billion overall Covid-19 stimulus measure.

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

The national average price of gasoline is down three-tenths of a cent at $2.164 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) reported earnings on Monday 10/19/2020 after the market close of $2.58, beating estimates calling for $2.545 per share.

Procter & Gamble (PG) reported earnings on Tuesday 10/20/2020 before the market open of $1.63, beating estimates of $1.428 per share.

Travelers (TRV) reported earnings on Tuesday 10/20/2020 before the market open of $3.12, beating estimates of $2.907 per share.

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.

Boeing (BA) reports earnings on Wednesday 10/28/2020 before the market open.

Amgen (AMGN) reports earnings on Wednesday 10/28/2020 after the market close.

Visa (V) reports earnings on Wednesday 10/28/2020 after the market close.

Apple (AAPL) reports earnings on Thursday 10/29/2020 after the market close.

Chevron (CVX) reports earnings on Friday 10/30/2020 before the market open.

Honeywell (HON) reports earnings on Friday 10/30/2020 before the market open.

Today’s Featured Dow Stock

Coca Cola (KO)

Coca Cola (KO) 49.62 (-0.82%) is down -10.35% year-to-date. Coca Cola (KO) YTD low was 36.27 on 3/23/2020. Coca Cola has provided a +24.123% gain off the YTD low.

Financial Calendar

8:30 AM ET Housing Starts and Permits

8:55 AM ET Redbook

11:00 AM ET 4-Week Bill Announcement

11:00 AM ET 8-Week Bill Announcement

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