The Dow Market Happenings For Thursday, November 19, 2020

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

The Market

Premarket today, the Dow was indicated to open down -72 points.

Wednesday the Dow was down -344.93 (-1.16%) at 29,438.42.

Year-to-date the Dow is down +3.15%.

There were 3 Dow stocks up Wednesday.

The Dow stock winners Wednesday were Dow (DOW) 55.30 (+1.51%), Caterpillar (CAT) 172.74 (+0.48%) and Salesforce (CRM) 257.16 (+0.39%).

The Dow stock losers Wednesday were led by Walgreens (WBA) 38.23 (-4.08%), Boeing (BA) 203.30 (-3.21%) and Chevron (CVX) 84.28 (-3.17%).

Unemployment insurance weekly claims in the week ending November 14, the advance figure for seasonally adjusted initial claims was 742,000, an increase of 31,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 709,000 to 711,000. The 4-week moving average was 742,000, a decrease of 13,750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 755,250 to 755,750. The advance seasonally adjusted insured unemployment rate was 4.3 percent for the week ending November 7, a decrease of 0.3 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 7 was 6,372,000, a decrease of 429,000 from the previous
week’s revised level. The previous week’s level was revised up 15,000 from 6,786,000 to 6,801,000. The 4-week moving average was 7,054,500, a decrease of 525,000 from the previous week’s revised average. The previous week’s average was revised up by 3,750 from 7,575,750 to 7,579,500. The total number of people claiming benefits in all programs for the week ending October 31 was 20,319,615, a decrease of 841,245 from the previous week. There were 1,476,521 persons claiming benefits in all programs in the comparable week in 2019.

Looks to me like Trump is probably going to kill more Americans than Osama Bin Laden through his denial of losing the election and blocking the transition process and Biden’s ability to get a real pandemic response coordinated. And that is on top of not providing a national response to the pandemic in the very beginning. Just think about how many people could have been saved if he had fully responded to the pandemic from the first day he knew about it and how easily it would spread. In the United States we now have over 250,000 dead and 160,000 new cases every day and rapidly rising.

On top of the Trump debacle we also have Senate majority leader Mitch McConnell blocking efforts to get a Stimulus Bill passed that will meet the needs of our country. If Congress was poorly paid, unemployed or underemployed, had housing, service and education bills piling up, not enough food and no medical insurance, they would get an adequate Stimulus Bill passed PDQ. Republicans need to actually negotiate with Democrats and get a good bill passed quickly and before the government funding bill. Remember, the Cares Act was signed into law 8 months ago and we are now in our third and largest wave of the Covid-19 pandemic. Vaccines will not be readily available to all until the first quarter of 2021. Hopefully you and I will not be one of the thousands that will die from Covid-19 before vaccines are available to all. There won’t be any extraordinary measures used to keep us alive like those that were used on Trump.

European stocks are mostly lower and Asian markets mostly lower.

The national average price of gasoline is down two-tenths of a cent at $2.118 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) reported earnings on Monday 11/09/2020 before the market open of $2.22, beating estimates calling for $1.926 per share.

Cisco (CSCO) reported earnings on Thursday 11/12/2020 after the market close of $0.76, beating estimates of $0.632 per share.

Disney (DIS) reported earnings on Thursday 11/12/2020 after the market close of -$0.20, beating estimates of -$0.683 per share.

Home Depot (HD) reported earnings on Tuesday 11/17/2020 before the market open of $3.18, beating estimates of $3.078 per share.

Walmart (WMT) reported earnings on Tuesday 11/17/2020 before the market open of $1.34, beating estimates calling for $1.192 per share.

Salesforce (CRM) reports earnings on Tuesday 12/1/2020 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 55.30 (+1.51%) is up +1.04% year-to-date. Dow (DOW) YTD low was 21.95 on 03/16/2020. Dow has provided a +156.40% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET Philadelphia Fed Manufacturing Index

10:00 AM ET Existing Home Sales

10:00 AM ET E-Commerce Retail 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 10-Yr TIPS Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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