DJIA Market Happenings For Thursday, October 29, 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 -107 points.

Wednesday the Dow was down -943.24 (-3.43%) at 26,519.95.

Year-to-date the Dow is down -7.07%.

There was 1 Dow stock up Wednesday.

The Dow stock winner Wednesday was Travelers (TRV) 121.50 (+2.02%).

The Dow stock losers Wednesday were led by Microsoft (MSFT) 202.68 (-4.96%), Visa (V) 180.87 (-4.84%), Salesforce (CRM)238.43 (-4.74%), Apple (AAPL) 111.20 (-4.63%), Nike (NKE) 122.08 (-4.62%) and Boeing (BA) 148.14 (-4.57%).

Unemployment insurance weekly claims in the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week’s revised level. The previous week’s level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week’s revised average. The previous week’s average was revised up by 1,000 from 811,250 to 812,250. The advance seasonally adjusted insured unemployment rate was 5.3 percent for the week ending October 17, a decrease of 0.5 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.1 from 5.7 to 5.8 percent. The advance number for seasonally adjusted insured unemployment during the week ending October 17 was 7,756,000, a decrease of 709,000 from the previous week’s revised level. The previous week’s level was revised up 92,000 from 8,373,000 to 8,465,000. The 4-week moving average was 9,053,250, a decrease of 1,055,750 from the previous week’s revised average. The previous week’s average was revised up by 23,250 from 10,085,750 to 10,109,000. The total number of people claiming benefits in all programs for the week ending October 10 was 22,654,453, a decrease of 415,727 from the previous week. There were 1,411,728 persons claiming benefits in all programs in the comparable week in 2019.

Dow futures fell 100 points after rising as much as 200 points in overnight trading. The S&P 500 futures dipped 0.1%. Nasdaq 100 futures rose 0.3%. The Dow is now down more than 6% this week and the S&P 500 is off by more than 5%, on pace for their worst weeks since March.

Apple (AAPL) reports earnings after the close today.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is down four-tenths of a cent at $2.147 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 -$2.334 peer share.

Amgen (AMGN) reported earnings on Wednesday 10/28/2020 after the market close of $4.37, beating estimates of $3.746 per share.

Visa (V) reported earnings on Wednesday 10/28/2020 after the market close of $1.12, beating estimates of $1.092 per share.

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.

McDonald’s (MCD) reports earnings on Monday 11/09/2020 before the market open.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 121.50 (+2.02%) is down -11.28% year-to-date. Travelers (TRV) YTD low was 76.99 on 3/18/2020. Travelers has provided a +57.81% gain off the YTD low.

Financial Calendar

8:30 AM ET GDP

8:30 AM ET Jobless Claims

10:00 AM ET Pending Home Sales Index

10:30 AM ET EIA Natural Gas Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 52-Week Bill Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 7-Yr Note Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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