The Dow Market Happenings For Wednesday, December 2, 2020

Dow stocks hitting 52 week highs include Nike (NKE) and Walmart (WMT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -130 points.

Tuesday the Dow was up 185.28 (+0.63%) at 29,823.92.

Year-to-date the Dow is up +4.50%.

There were 23 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Apple (AAPL) 122.72 (+3.08%), Travelers (TRV) 133.41 (+2.90%) and Intel (INTC) 49.56 (+2.50%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 241.35 (-1.81%), 3M (MMM) 170.52 (-1.28%) and McDonald’s (MCD) 216.14 (-0.60%).

Private payrolls grew at their slowest pace since July amid a deceleration in large business hiring for November, according to a report Wednesday from ADP. Companies hired 307,000 workers for the month, well below the 475,000 economists estimate. The total represented a decline from the upwardly revised 404,000 in October and is the smallest gain since the 216,000 increase in July, according to the report, which is compiled in conjunction with Moody’s Analytics. The revision added 39,000 to the original estimate from October, making the November miss not as bad as it appears.

Friday we get the Jobs Report.

The Pfizer-BioNTech vaccine, under emergency use approval, will be rolled out in the U.K. next week, with elderly people in care homes and medical workers first in line.

A panel of medical experts that advises the CDC voted 13-1 to give health-care workers and long-term care facility residents the first Covid vaccine shots once they are cleared for public use in the U.S.

Pending CDC guidelines will allow people who have come in contact with someone infected with coronavirus to resume normal activity after 10 days, or seven days if they receive a negative test result. That’s down from the 14-day period recommended since the onset of the pandemic.

Attorney General William Barr said in an interview that the Department of Justice has not found evidence of large-scale ballot fraud that would reverse President-elect Joe Biden’s projected win over President Donald Trump in the election.

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

The national average price of gasoline is up 1.9 cents at $2.159 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) reported earnings on Tuesday 12/1/2020 after the market close of $1.74, beating estimates of $0.258 per share.

Today’s Featured Dow Stock

McDonald’s (MCD)

McDonald’s (MCD) 216.14 (-0.60%) is up +9.38% year-to-date. McDonald’s (MCD) YTD low was 124.23 on 3/18/2020. McDonald’s has provided a +73.98% gain off the YTD low.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:15 AM ET ADP Employment Report

10:00 AM ET Jerome Powell Speaks

10:30 AM ET EIA Petroleum Status Report

2:00 PM ET Beige Book

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