DJIA Market Happenings For Thursday, October 16, 2014

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include Boeing (BA), Chevron (CVX), Pfizer (PFE), General Electric (GE), McDonald’s (MCD) and United Technologies (UTX).

The Market

Premarket today, the Dow was indicated to open down -210 points.

Wednesday, the Dow closed down -173.45 (-1.06%) at 16,141.74.

Year-to-date the Dow is down -2.62%.

There were 6 Dow stock winners Wednesday.

Dow stock losers Wednesday included JPMorgan (JPM) -4.24% and Wal-Mart (WMT) -3.57%.

Dow stock winners Wednesday included Johnson & Johnson (JNJ) +1.24% and Dupont (DD) +0.83%.

Yesterday, the Dow Jones industrial average plummeted by 460 points before staging a late rally to end with a loss of “only” 173 points.

Claims for jobless benefits fell to a 14-year low last week. The Labor Department reported today that initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 264,000, its lowest level since 2000. Economists had forecast claims rising to 290,000 for the week ended Oct. 11. The four-week moving average of claims fell 4,250 to 283,500, also its lowest level since 2000.

Wal-Mart Stores (WMT) cut its sales forecast this year and was cautious about its predictions for 2015, saying that economic improvement hasn’t been as rapid as originally expected, which in turn has created a difficult sales environment.

A second case of Ebola on U.S. soil has U.S. officials worried that there could be more cases reported in the coming days. On Wednesday, Amber Joy Vinson, a nurse charged with caring for a Liberian man who also had the disease, was identified as the second case of Ebola transmitted on U.S. soil. Vinson took a flight to and from Cleveland, Ohio, after being infected, making the possibility of further spread more likely.

American Express (AXP) reported Q3 EPS of $1.40, higher than consensus of $1.36.

Goldman Sachs (GS) reported Q3 EPS of $4.57, well above consensus of $3.21.

UnitedHealth Group (UNH) reported Q3 EPS of $1.63, higher than consensus of $1.53.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is down 1.4 cents at $3.163 per gallon.

Earnings Reports.

Johnson & Johnson (JNJ) will report earnings om 10/14/14 before the market open.

JPMorgan (JPM) will report earnings om 10/14/14 before the market open.

Intel (INTC) will report earnings on 10/14/14 after the market close.

American Express (AXP) reports earnings on 10/15/14 after the market close.

Goldman Sachs (GS) will report earnings on 10/16/14 before the market open.

United Health (UNH) will report earnings on 10/16/14 before the market open.

International Business Machines (IBM) will report earnings on 10/16/14 after the market close.

General Electric (GE) will report earnings on 10/17/14 before the market open.

Coca Cola (KO) will report earnings on 10/21/14 before the market open.

McDonald’s (MCD) will report earnings on 10/21/14 before the market open.

Travelers (TRV) will report earnings on 10/21/14 before the market open.

United Technologies (UTX) will report earnings on 10/21/14 before the market open.

Verizon (VZ) will report earnings on 10/21/14 before the market open.

Boeing will report earnings on 10/22/14 before the market open.

AT&T (T) will report earnings on 10/22/14 after the market close.

3M (MMM) will report earnings on 10/23/14 before the market open.

Caterpillar (CAT) will report earnings on 10/23/14 before the market open.

Microsoft (MSFT) will report earnings on 10/23/14 after the market close.

Procter & Gamble (PG) will report earnings on 10/24/14 before the market open.

Merck (MRK will report earnings on 10/27/14 before the market open.

Dupont (DD) will report earnings on 10/28/14 before the market open.

Pfizer (PFE) will report earnings on 10/28/14 before the market open.

Notable earnings reports from Wednesday include:

Bank of America Corp (BAC) reported third quarter EPS of $0.42 on revenue of $21.23 billion, compared to last year’s loss of $0.20 on revenue of $21.53 billion.

eBay Inc (EBAY) reported third quarter EPS of $0.68 on revenue of $4.35 billion, compared to last year’s EPS of $0.64 on revenue of $3.89 billion.

Netflix, Inc. (NFLX) reported third quarter EPS of $0.96 on revenue of $1.41 billion, compared to last year’s EPS of $0.52 on revenue of $1.11 billion.

PNC Financial Services Group Inc (PNC) reported third quarter EPS of $1.79 on revenue of $3.84 billion, compared to last year’s EPS of $1.79 on revenue of $3.92 billion.

Stocks reporting earnings today include:

International Business Machines Corp. (IBM) is expected to report third quarter EPS of $4.32 on revenue of $23.41 billion, compared to last year’s EPS of $3.99 on revenue of $23.72 billion.

UnitedHealth Group Inc. (UNH) is expected to report third quarter EPS of $1.53 on revenue of $32.76 billion, compared to last year’s EPS of $1.52 on revenue of $30.62 billion.

Delta Air Lines. Inc. (DAL) is expected to report third quarter EPS of $1.18 on revenue of $11.12 billion, compared to last year’s EPS of $1.41 on revenue of $10.49 billion.

Schlumberger Limited (SLB) is expected to report third quarter EPS of $1.46 on revenue of $12.64 billion, compared to last year’s EPS of $1.29 on revenue of $11.61 billion.

Today’s Featured Dow Stock

UnitedHealth Group Inc. (UNH)

UnitedHealth Group Inc. (UNH) is up +9.11% year-to-date.

Financial Calendar

0800 ET Philadelphia Fed President Charles Plosser speaks on the economic outlook to the Lehigh Valley Economic Development Group.

0830 ET Weekly initial unemployment claims expected +3,000 to 290,000, previous -1,000 to 287,000. Weekly continuing claims expected -1,000 to 2.380 million, previous -21,000 to 2.381 million.

0900 ET Atlanta Fed President Dennis Lockhart speaks at a conference at Rutgers University on Transforming U.S. Workforce Development Policies for the 21st Century.

0915 ET Sep industrial production expected +0.4% m/m, Aug -0.1% m/m. Sep manufacturing production expected +0.3% m/m, Aug -0.4% m/m. Sep capacity utilization expected +0.2 to 79.0%, Aug -0.3 to 78.8%.

1000 ET Minneapolis Fed President Narayana Kocherlakota delivers a speech titled Clarifying the Objectives of Monetary Policy at an event in Billings, MT.

1000 ET Oct Philadelphia Fed manufacturing index expected -2.8 to 19.7, Sep -5.5 to 22.5.

1000 ET Oct NAHB housing market index expected unch at 59, Sep +4 to 59.

1100 ET EIA Weekly Petroleum Status Report.

1100 ET Treasury announces amount of 30-year TIPS to be auctioned Oct 23.

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