The Dow Market Happenings For Friday, January 8, 2016

There are no Dow stocks at 52 week highsThere are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open p +129 points.

Thursday, the Dow was down -392.41 (-2.32%) at 16,514.10.

Year-to-date the Dow is down -5.23%.

There was 1 Dow stock up Thursday.

The Dow stock winner Thursday was again Wal-Mart (WMT) +2.33%.

The Dow stock losers Thursday were led by General Electric (GE) -4.23%, Apple (AAPL) -4.22%, Boeing (BA) -4.19% and JPMorgan (JPM) -4.0%.

Dupont (DD -2.97%) was upgraded to ‘Outperform’ from Market Perform’ at Bernstein who also raised their price target on the stock to $81 from $71.

Nonfarm payrolls increased by 292,000 last month, the Labor Department reported. The unemployment rate held steady at a 7-1/2-year low of 5 percent even as more people entered the labor force. October and November payrolls were revised to show 50,000 more jobs created than previously reported. However, there was a one cent drop in average hourly earnings, but was most likely because of calendar effects which should reverse in the January report.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down eight-tenths of a cent at $1.988 per gallon.

Earnings Reports.

JPMorgan (JPM reports earnings on 1/14/2015 before the market open.

Intel (INTC) reports earnings on 1/14/2015 after the market close.

UnitedHealth (UNH) reports earnings on 1/19/2016 before the market open.

IBM (IBM) reports earnings on 1/19/2016 after the market close.

Goldman Sachs (GS) reports earnings on 1/20/2015 before the market open.

Travelers (TRV) reports earnings on 1/21/2016 before the market open.

American Express (AXP) reports earnings on 1/21/2016 after the market close.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) is down -2.06% year-to-date.

Financial Calendar

0830 ET Dec non-farm payrolls expected +200,000, Nov +211,000. Dec private payrolls expected +200,000, Nov +197,000. Dec manufacturing payrolls expected unch, Nov -1,000. Dec unemployment rate expected unch at 5.0%, Nov unch at 5.0%.

0830 ET Dec avg hourly earnings expected +0.2% m/m and +2.8% y/y, Nov +0.2% m/m and +2.3% y/y. Dec avg weekly hours all employees expected unch at 34.5 hours.

1000 ET Nov wholesale trade sales expected unch m/m, Oct unch m/m. Nov wholesale inventories expected -0.1% m/m, Oct -0.1% m/m.

1130 ET San Francisco Fed President John Williams speaks on the economic outlook to the California Association of Bankers in Santa Barbara, CA.

1300 ET Richmond Fed President Jeffrey Lacker delivers his 2016 economic outlook to the Maryland Bankers Association.

1500 ET Nov consumer credit expected +$18.5 billion, Oct +$15.982 billion.

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