The Dow Market Happenings For Thursday, May 5, 2016

Dow stocks at 52 week highs include McDonald’s (MCD).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +31 points.

Wednesday the Dow was down -99.65 (-0.56%) at 17,651.26.

Year-to-date the Dow is up +1.30%.

There were 8 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by McDonald’s (MCD) +0.72% and Procter & Gamble (PG) +0.62%.

The Dow stock losers Wednesday were led by Caterpillar (CAT) -2.78% and Goldman Sachs (GS) -1.88%.

Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the Labor Department said. Last week’s increase was the largest since February of last year. Economists had forecast initial claims rising to 260,000 in the latest week. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 61 consecutive weeks, the longest stretch since 1973. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 2,000 to 258,000 last week.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is unchanged at $2.223 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 4/13/2016 before the market open of $1.35, beating estimates of $1.259 per share.

IBM (IBM) reported earnings on 4/18/2016 after the market open of $2.35, beating estimates of $2.085 per share.

Goldman Sachs (GS) reported earnings on 4/19/2016 before the market open of $2.68, beating estimates for $2.566 per share.

Intel (INTC) reported earnings on 4/19/2016 after the market open of $0.54, beating estimates for $0.47 per share.

Johnson & Johnson (JNJ) reported earnings on 4/19/2016 before the market open of $1.72, beating estimates for $1.639 per share.

UnitedHealth (UNH) reported earnings on 4/19/2016 before the market open of $1.81, beating estimates for $1.721 per share.

Coca Cola (KO) reported earnings on 4/20/2016 before the market open of $0.45, beating estimates of $0.44 per share.

American Express (AXP) reported earnings on 4/20/2016 after the market close of $1.45, beating estimates of $1.355 per share.

Travelers (TRV) reported earnings on 4/21/2016 before the market open of $2.30, missing estimates of $2.568 per share.

Verizon (VZ) reported earnings on 4/21/2016 before the market open of $1.06, meeting estimates of $1.064 per share.

Microsoft (MSFT) reported earnings on 4/21/2016 after the market open of $0.62, almost meeting expectations for $0.625 per share.

Visa (V) reported earnings on 4/21/2016 after the market open of $0.68, beating estimates of $0.663 per share.

Caterpillar (CAT) reported earnings on 4/22/2016 before the market open of $0.46, missing estimates of $0.67 per share.

General Electric (GE) reports earnings on 4/22/2016 before the market open of $0.21, barely beating estimates of $0.206 per share.

McDonald’s reported earnings on 4/22/2016 before the market open of $1.23, beating estimates of $1.169 per share.

Apple (AAPL) reported earnings on 4/25/2016 after the market close of $1.90, missing estimates calling for $1.97 per share.

3M (MMM) reported earnings on 4/26/2016 before the market open of $2.05, beating estimates of $1.924 per share..

Dupont (DD) reported earnings on 4/26/2016 before the market open of $1.26, beating estimates calling for $1.02 per share.

Procter & Gamble (PG) reported earnings on 4/26/2016 before the market open of $0.89, beating estimates of $0.81 per share..

Boeing (BA) reported earnings on 4/27/2016 before the market open of $1.74, missing estimates calling for $1.806 per share.

United Technologies (UTX) reported earnings on 4/27/2016 before the market open of $1.47, beating estimates of $1.387 per share.

Chevron (CVX) reported earnings on 4/29/2016 before the market open of -$0.39, missing estimates for -$0.139 per share.

Exxon Mobil (XOM) reported earnings on 4/29/2016 before the market open of $0.43, beating estimates of $0.306 per share.

Pfizer (PFE) reported earnings on 5/3/2016 before the market open of $0.67, beating estimates of $0.47 per share.

Merck (MRK) reported earnings on 5/5/2016 before the market open of $0.89, beating estimates calling for $0.853 per share.

Disney (DIS) reports earnings on 5/10/2016 after the market close.

Cisco (CSCO) reports earnings on 5/18/2016 after the close.

Today’s Featured Dow Stock

Intel (INTC)

Intel (INTC) is down -13.35% year-to-date.

Financial Calendar

0730 ET Apr Challenger job cuts, Mar +31.7% y/y.

0830 ET Weekly initial unemployment claims expected +3,000 to 260,000, previous +9,000 to 257,000. Weekly continuing claims expected -2,000 to 2.128 million, previous -5,000 to 2.130 million.

0830 ET USDA weekly Export Sales.

1150 ET St. Louis Fed President James Bullard speaks at the Santa Barbara County Economic Summit.

1915 ET Atlanta Fed President Dennis Lockhart, Dallas Fed President Robert Kaplan, San Francisco Fed President John Williams, and St. Louis Fed President James Bullard take part in a panel discussion on International Monetary Policy and Reform Practice at a conference at Stanford University.

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