The Dow Market Happenings For Monday, October 26, 2020

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

The Market

Premarket today, the Dow was indicated to open down -314 points.

Friday the Dow was down -28.09 (-0.10%) at 28,335.57.

Year-to-date the Dow is down -0.71%.

There were 14 Dow stocks up Friday.

The Dow stock winners Friday were led by UnitedHealth (UNH) 330.60 (+1.50%), Walgreens (WBA) 38.04 (+1.41%) and Verizon (VZ) 57.96 (+1.10%).

The Dow stock losers Friday were led by Intel (INTC) 48.20 (-10.58%), American Express (AXP) 100.98 (-3.64%) and Chevron (CVX) 72.57 (-1.13%).

We are now eight days out from Election Day in the United States and investors have priced in a victory for Joe Biden, with prediction markets putting the odds of a win for the former vice president at 63%.

It is also unlikely to have a stimulus bill passed this week as Republicans care more about confirming President Trump’s Supreme Court nominee Judge Amy Coney Barrett than getting stimulus to the people. Barrett, who is 48 years old, is likely to serve on the court for decades and will give conservatives a 6-3 majority on the Supreme Court, a shift in its makeup that will have dramatic implications for a range of issues that could come before it, including the future of the Affordable Care Act and any potential disputes regarding the 2020 election.

The United States hit a record seven-day average of new Covid-19 cases last week, logging more than 83,000 new infections on both Friday and Saturday. Data also showed the country has reported an average of 68,767 cases per day over the past seven days, a record.

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

The national average price of gasoline is down two-tenths of a cent at $2.160 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) reported earnings on Thursday 10/22/2020 after the market close of $1.11, meeting (slightly beating) expectations of $1.103 per share.

American Express (AXP) reported earnings on Friday 10/23/2020 before the market open of $1.30, missing estimates of $1.39 per share.

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

Microsoft (MSFT)

Microsoft (MSFT) 216.23 (+0.62%) is up +37.11% year-to-date. Microsoft (MSFT) YTD low was 132.52 on 3/23/2020. Microsoft has provided a +63.17% gain off the YTD low.

Financial Calendar

8:30 AM ET Chicago Fed National Activity Index

10:00 AM ET New Home Sales

10:30 AM ET Dallas Fed Manufacturing Survey

11:30 AM ET 3-Month Bill Auction

11:30 AM ET 6-Month Bill Auction

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