DJIA Market Happenings For Friday, January 8, 2021

Dow stocks hitting 52 week highs include Caterpillar (CAT), Dow (DOW), Goldman Sachs (GS) and Johnson & Johnson (JNJ). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +74 points.

Thursday the Dow was up +211.73 (+0.69%) at 31,041.13.

Year-to-date the Dow is up +1.42%.

There were 20 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Walgreens (WBA) 45.26 (+5.18%), Apple (AAPL) 130.92 (+3.41%) and JPMorgan (JPM) 135.87 (+3.28%).

The Dow stock losers Thursday were led by 3M (MMM) 169.72 (-2.57%), Coca Cola (KO) 49.96 (-1.11%) and Procter & Gamble (PG) 138.85 (-0.93%).

Job creation came to a halt in December as Covid-19 restrictions brought on by surging cases hammered virus-sensitive industries. The Labor Department reported Friday that nonfarm payrolls fell by 140,000, the first monthly decline since April. That compared to expectations for a 50,000 job increase. The nation’s unemployment rate last month was unchanged at 6.7%, slightly better than the 6.8% estimate. Overall jobs growth in November was revised strongly higher to 336,000.

Trump late Thursday admitted for the first time in his own words, despite vowing never to concede, that a “new administration will be inaugurated” on Jan. 20. In a nearly three-minute video, posted after his Twitter lockout ended, Trump did not mention President-elect Joe Biden by name. And it came a day after the outgoing president incited the riot that saw a mob breach the U.S. Capitol “with Congress in session”, in protest of the election.

Senate Democratic Leader Chuck Schumer and House Speaker Nancy Pelosi are calling for Trump’s removal, accusing him of inciting “insurrection.” Schumer said that if Vice President Mike Pence and the Cabinet do not move to invoke the 25th Amendment, Congress should reconvene to impeach Trump. Pelosi said Congress “may be prepared” to impeach Trump if executive branch officials do not act.

The U.S. had its first day of over 4,000 deaths from Covid-19. In the single worst day of the pandemic Thursday, 4,085 people died from the virus. The latest coronavirus surge saw record seven-day averages of new daily infections and deaths running at 228,497 and 2,764, respectively.

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

The national average price of gasoline is up 1.3 cents at $2.302 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 1/7/2021 before the market open of $1.22, beating estimates calling for $1.02 per share.

JPMorgan (JPM) will report earnings on 1/15/2021 before the market open.

Goldman Sachs (GS) will report earnings on 1/19/2021 before the market open.

Procter & Gamble (PG) will report earnings on 1/20/2021 before the market open.

UnitedHealth (UNH) will report earnings on 1/20/2021 before the market open.

Coca Cola (KO) will report earnings on 1/21/2021 before the market open.

Travelers (TRV) will report earnings on 1/21/2021 before the market open.

Intel (INTC) will report earnings on 1/21/2021 after the market close.

IBM (IBM) will report earnings on 1/21/2021 after the market close.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) 128.99 (-0.23%) is up +2.47% in 2021.

Financial Calendar

8:30 AM ET Jobs Report

10:00 AM ET Wholesale Inventories [Preliminary]

1:00 PM ET Baker Hughes Rig Count

3:00 PM ET Consumer Credit

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