The Dow Market Happenings For Wednesday, October 28, 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 down -618 points.

Tuesday the Dow was down -222.19 (-0.80%) at 27,463.19.

Year-to-date the Dow is down -3.77%.

There were 7 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Salesforce (CRM) 250.30 (+3.44%), Microsoft (MSFT) 213.25 (+1.51%) and Apple (AAPL) 116.60 (+1.35%).

The Dow stock losers Tuesday were led by Boeing (BA) 155.24 (-3.48%), Walgreens (WBA) 36.00 (-3.25%) and Caterpillar (CAT) 157.91 (-3.24%).

Stocks are selling off sharply on fears that Covid-19 infections are spiraling out of control again and government leaders could have no choice but to enact another wave of lockdowns.

Boeing (BA) topped third-quarter forecasts Wednesday and said it expects further employee reductions amid the coronavirus pandemic and its 737 Max grounding. The company plans to lay off an additional 11,000 by the end of 2021, bringing its total number of employees to 130,000 vs. over 160,000 at the start of this year. Boeing stock fell over 1% ahead of the stock market open. See earnings numbers below.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is down three-tenths of a cent at $2.151 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) reported earnings on Tuesday 10/27/2020 before the market open of $2.43, beating estimates of $2.27 per share.

Merck (MRK) reported earnings on Tuesday 10/27/2020 before the market open of $1.74, beating estimates of $1.442 per share.

Microsoft (MSFT) reported earnings on Tuesday 10/27/2020 after the market close of $1.82, beating estimates of $1.528 per share.

Boeing (BA) reported earnings on Wednesday 10/28/2020 before the market open of -$1.39, beating estimates of -$2.33.

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

Procter & Gamble (PG)

Procter & Gamble (PG) 142.36 (+0.75%) is up +13.98% year-to-date. Procter & Gamble (PG) YTD low was 94.34 on 3/23/2020. Procter & Gamble has provided a +50.90% gain off the YTD low.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:30 AM ET International Trade in Goods (Advance)

8:30 AM ET Retail Inventories (Advance)

8:30 AM ET Wholesale Inventories (Advance)

10:00 AM ET State Street Investor Confidence Index

10:30 AM ET EIA Petroleum Status Report

11:00 AM ET Survey of Business Uncertainty

11:30 AM ET 2-Yr FRN Note Auction

1:00 PM ET 5-Yr Note Auction

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