DJIA Market Happenings For Wednesday, March 23, 2016

Dow stocks at 52 week highs include Travelers (TRV) and UnitedHealth (UNH).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -30 points.

Tuesday the Dow was down -41.30 (-0.23%) at 17,582.57.

Year-to-date the Dow is up +0.90%.

There were 12 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Pfizer (PFE) +1.03% and UnitedHealth (UNH) +1.01%.

The Dow stock losers Tuesday were led by Goldman Sachs (GS) -1.34% and Visa (V) -1.10%.

Nike (NKE +0.28%) dropped nearly 6% in pre-market trading after it reported Q3 revenue of $8.03 billion, well below consensus of $8.20 billion. The company reported earnings after the close Tuesday of $0.55 per share, beating estimates of $0.485 per share.

Merk (MRK +0.44%) rose nearly 3% in after-hours trading after it won a jury verdict that allows it to seek royalties from Gilead Sciences for its Hepatitis C cure. Gilead Sciences (GILD +1.13%) fell almost over 3% on the news.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is up nine-tenth of a cent at $1.993 per gallon.

Earnings Reports.

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

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) is up +7.624% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -3.3% with purchase sub-index +0.3% and refi sub-index -5.6%.

0900 ET St. Louis Fed President James Bullard speaks on Bloomberg TV and radio.

1000 ET Feb new home sales expected +3.2% to 510,000, Jan -9.2% to 494,000.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $13 billion 2-year floating-rate T-notes.

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