DJIA Market Happenings For Wednesday, April 6, 2016

Dow stocks at 52 week highs include Johnson & Johnson (JNJ) and Verizon (VZ).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +13 points.

Tuesday the Dow was down -133.68 (-0.75%) at 17,603.32.

Year-to-date the Dow is up +1.02%.

There were 3 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Pfizer (PFE) +2.08% and Boeing (BA) +0.55%.

The Dow stock losers Tuesday were led by Cisco (CSCO) -1.99% and UnitedHealth (UNH) -1.89%.

Cisco Systems (CSCO -1.99%) rose over 2% in premarket trading after it was upgraded to ‘Neutral’ from ‘Underweight’ at J.P. Morgan Chase.

Pfizer (PFE +2.08%) climbed over 1% in premarket trading after people familiar with the matter said the company is terminating its $160 billion merger with Allergan Plc after new U.S. tax proposals aimed at curbing corporate inversions. Allergan Plc (AGN -14.77%) is down over 1% in premarket trading following the news.

Apple (AAPL -1.18%) was rated a new ‘Strong Buy’ at Needham & Co. with a 12-month price target of $150.

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

The national average price of gasoline is down five-tenths of a cent at $2.047 per gallon.

Earnings Reports.

JPMorgan (JPM) reports earnings on 4/13/2016 before the market open.

IBM (IBM) reports earnings on 4/18/2016 after the market open.

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) is up +4.72% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -1.0% with purchase sub-index +2.1% and refi sub-index -3.3%.

1030 ET EIA Weekly Petroleum Status Report.

1220 ET Cleveland Fed President Loretta Mester speaks on the U.S. economic outlook and monetary policy at an event hosted by the Cleveland
Associations for Business Economics, CFA Society Cleveland and Risk Management Association of Northern Ohio.

1400 ET Minutes of the Mar 15-16 FOMC meeting.

1830 ET St. Louis Fed President James Bullard delivers welcoming remarks at a lecture in St. Louis.

2000 ET Dallas Fed President Rob Kaplan speaks on a moderated panel at the World Affairs Council of Dallas/Fort Worth.

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