DJIA Market Happenings For Wednesday, November 4, 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 +154 points.

Tuesday the Dow was up +554.98 (+2.06%) at 27,480.03.

Year-to-date the Dow is down -3.71%.

There were 27 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Walgreens (WBA) 37.37 (+4.41%), Goldman Sachs (GS) 197.93 (+4.06%) and Boeing (BA) 153.65 (+3.40%).

The Dow stock losers Tuesday were Chevron (CVX) 71.74 (-0.57%), Johnson & Johnson (JNJ) 138.50 (-0.14%) and Amgen (AMGN) 220.06 (-0.07%).

The FOMC begins it’s two-day policy meeting today which will probably read like the last meeting.

Equity markets rose on Wednesday, having recovered some ground lost after President Donald Trump said he would ask the Supreme Court to stop all vote counting in a hotly contested election and effectively declared victory, despite the results in a number of states being as yet unavailable.

We still have no president. The counting shall continue!

The ADP report showed companies added 365,000 positions for the month, well below the 600,000 estimate economists expected. That was the lowest reported gain from ADP since July. The ADP estimate, done in conjunction with Moody’s Analytics, has varied widely from the government’s official nonfarm payrolls report, particularly during the pandemic. However, the upwardly revised 753,000 in September actually was higher than the Labor Department’s count of 661,000, whereas previous months’ reports were considerably lower than the government’s.

Friday we get the Labor Department Jobs Report.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down three-tenths of a cent at $2.119 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) reported earnings on Thursday 10/29/2020 after the market close of $0.73, beating estimates of $0.691 per share.

Chevron (CVX) reported earnings on Friday 10/30/2020 before the market open of $0.11, beating estimates of -$0.0287 per share.

Honeywell (HON) reported earnings on Friday 10/30/2020 before the market open of $1.56, beating estimates of $1.486 per share.

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

Cisco (CSCO) reports earnings on 11/12/2020 after the market close.

Disney (DIS) reports earnings on 11/12/2020 after the market close.

Today’s Featured Dow Stock

Walgreens (WBA)

Walgreens (WBA) 37.37 (+4.41%) is down -36.62% year-to-date. Walgreens (WBA) YTD low was 33.36 on 10/30/2020. Walgreens has provided a +1.20% gain off the YTD low.

Financial Calendar

FOMC Meeting Begins

7:00 AM ET MBA Mortgage Applications

8:15 AM ET ADP Employment Report

8:30 AM ET International Trade in Goods and Services

8:30 AM ET Treasury Refunding Announcement

9:45 AM ET PMI Composite Final

10:00 AM ET ISM Services Index

10:30 AM ET EIA Petroleum Status Report

11:00 AM ET 3-Yr Note Announcement

11:00 AM ET 10-Yr Note Announcement

11:00 AM ET 30-Yr Bond Announcement

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