The Dow Market Happenings For Wednesday, October 22, 2020

Dow stocks hitting 52 week highs include Nike (NKE). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -62 points.

Wednesday the Dow was down -97.97 (-0.35%) at 28,210.82.

Year-to-date the Dow is down -1.15%.

There were 9 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Travelers (TRV) 125.00 (+5.83%), Disney (DIS) 126.63 (+1.34%) and Nike (NKE) 129.43 (+0.73%).

The Dow stock losers Wednesday were led by Goldman Sachs (GS) 202.91 (-2.46%), Boeing (BA) 163.86 (-2.02%) and IBM (IBM) 115.06 (-1.97%).

Unemployment insurance weekly claims in the week ending October 17, the advance figure for seasonally adjusted initial claims was 787,000, a decrease of 55,000 from the previous week’s revised level. The previous week’s level was revised down by 56,000 from 898,000 to 842,000. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week’s revised average. The previous week’s average was revised down by 33,500 from 866,250 to 832,750. The advance seasonally adjusted insured unemployment rate was 5.7 percent for the week ending October 10, a decrease of 0.7 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.4 from 6.8 to 6.4 percent. The advance number for seasonally adjusted insured unemployment during the week ending October 10 was 8,373,000, a decrease of 1,024,000 from the previous week’s revised level. The previous week’s level was revised down by 621,000 from 10,018,000 to 9,397,000. The 4-week moving average was 10,085,750, a decrease of 1,093,500 from the previous week’s revised average. The previous week’s average was revised down by 302,500 from 11,481,750 to 11,179,250. The total number of people claiming benefits in all programs for the week ending October 3 was 23,150,427, a decrease of 1,046,493 from the previous week. There were 1,393,973 persons claiming benefits in all programs in the comparable week in 2019.

Dow Inc. (DOW) came out with quarterly earnings of $0.50 per share, beating estimates of $0.33 per share. This compares to earnings of $0.91 per share a year ago. These figures are adjusted for non-recurring items.

Coca Cola (KO) shares rose in Thursday premarket trading after the beverage giant reported third-quarter earnings and revenue that beat expectations. Net income totaled $1.74 billion, or 40 cents per share, down from $2.59 billion, or 60 cents per share, last year. Adjusted EPS of 55 cents beat consensus of 46 cents. Revenue of $8.65 billion was down from $9.51 billion last year but ahead of the forecast of $8.36 billion.

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

The national average price of gasoline is up two-tenths of a cent at $2.166 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) reported earnings on Wednesday 10/21/2020 before the market open of $1.25, beating estimates of $1.217 per share.

Dow (DOW) reported earnings on Thursday 10/22/2020 before the market open of $0.50, beating estimates of $0.33 per share.

Coca Cola (KO) reported earnings on Thursday 10/22/2020 before the market open of $0.55, beating estimates of $0.454 per share.

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

3M (MMM)

3M (MMM) 169.17 (-1.04%) is down -4.11% year-to-date. 3M (MMM) YTD low was 114.04 on 3/23/2020. 3M has provided a +48.34% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

10:00 AM ET Existing Home Sales

10:00 AM ET Leading Indicators

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Kansas City Fed Manufacturing Index

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 2-Yr FRN Note Announcement

11:00 AM ET 2-Yr Note Announcement

11:00 AM ET 5-Yr Note Announcement

11:00 AM ET 7-Yr Note Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 5-Yr TIPS Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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