The Dow Market Happenings For Thursday, November 20, 2014

Dow stocks at 52 week highs include Nike (NKE) and Wal-Mart (WMT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -80 points.

Wednesday, the Dow closed down -2.09 (-0.01%) at 17,685.73.

Year-to-date the Dow is up +6.69%.

There were 13 Dow stock winners Wednesday.

Dow stock winners Wednesday included Coca COla (KO) +1.59% and Wal-Mart (WMT) +1.43%.

Dow stock losers Wednesday included Verizon (VZ) -1.43% and UnitedHealth (UNH) -1.35%.

The Labor Department reported initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 291,000 for the week ended Nov. 15. The prior week’s data was revised to show 3,000 more applications received than previously reported. The four-week moving average of claims increased 1,750 to 287,500, still at levels consistent with solid employment growth. Economists forecast claims dipping to 285,000 last week. Claims have now been below the 300,000 threshold for 10 straight weeks, a sign that the labor market is tightening.

The Federal Reserve’s October meeting minutes left something to be desired after being released on Wednesday. The report revealed little new information to investors who have been wondering when and how the bank plans to raise interest rates. The minutes showed that the U.S. central bankers are concerned about whether or not inflation will continue to improve and if the U.S. economy can continue to stabilize while the global economy struggles.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is down 1.3 cents at $2.850 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings in the near term.

Notable earnings reports from Wednesday include:

Lowe’s Companies, Inc. (LOW) reported third quarter EPS of $0.59 on revenue of $13.70 billion, compared to last year’s EPS of $0.47 on revenue of $12.96 billion.

Staples, Inc. (SPLS) reported third quarter EPS of $0.37 on revenue of $5.96 billion, compared to last year’s EPS of $0.42 on revenue of $6.11 billion.

Salesforce.com Inc. (CRM) reported third quarter EPS of $0.14 on revenue of $1.38 billion, compared to last year’s EPS of $0.09 on revenue of $1.08 billion.

Target Corporation (TGT) reported third quarter EPS of $0.54 on revenue of $17.73 billion, compared to last year’s EPS of $0.56 on revenue of $17.26 billion.

Stocks reporting earnings today include:

Autodesk, Inc. (ADSK) is expected to report third quarter EPS of $0.22 on revenue of $601.76 million, compared to last year’s EPS of $0.41 on revenue of $555.20 million.

Best Buy Co., Inc. (BBY) is expected to report third quarter EPS of $0.24 on revenue of $9.06 billion, compared to last year’s EPS of $0.18 on revenue of $9.36 billion.

Dollar Tree, Inc. (DLTR) is expected to report third quarter EPS of $0.64 on revenue of $2.06 billion, compared to last year’s EPS of $0.58 on revenue of $1.88 billion.

GameStop Corporation (GME) is expected to report third quarter EPS of $0.61 on revenue of $2.21 billion, compared to last year’s EPS of $0.58 on revenue of $2.11 billion.

Gap Inc. (GPS) is expected to report third quarter EPS of $0.75 on revenue of $4.04 billion, compared to last year’s EPS of $0.72 on revenue of $3.98 billion.

Today’s Featured Dow Stock

Pfizer Inc. (PFE)

Pfizer Inc. (PFE) is down -0.62% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -6,000 to 284,000, previous +12,000 to 290,000. Weekly continuing claims expected -22,000 to 2.370 million, previous +36,000 to 2.392 million.

0830 ET Oct CPI expected -0.1% m/m and +1.6% y/y, Sep +0.1% m/m and +1.7% y/y. Oct CPI ex food & energy expected +0.1% m/m and +1.7% y/y, Sep +0.1% m/m and +1.7% y/y.

0830 ET USDA weekly Export Sales.

0945 ET Preliminary Nov Markit manufacturing PMI expected +0.4 to 56.3, Oct -1.6 to 55.9.

1000 ET Nov Philadelphia Fed manufacturing index expected -2.2 to 18.5, Oct -1.8 to 20.7.

1000 ET Oct existing home sales expected -0.4% to 5.15 million, Sep +2.4% m/m to 5.17 million.

1000 ET Oct leading indicators expected +0.6%, Sep +0.8%.

1100 ET Treasury announces amounts of 2-year T-notes (previous $29 billion), 2-year floating-rate notes (previous $15 billion), 5-year T-notes (previous $35 billion), and 7-year T-notes (previous $29 billion) to be auctioned Nov 24-26.

1300 ET Treasury auctions $13 billion of 10-year TIPS.

1330 ET Cleveland Fed President Loretta Mester delivers a speech on Forward Guidance and Communications in U.S. Monetary Policy at the Imperial College Business School in London.

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