The Dow Market Happenings For Monday, May 23, 2016

Dow stocks at 52 week highs include Exxon Mobil (XOM).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -18 points.

Friday the Dow was up +65.54 (+0.38%) at 17,500.94.

Year-to-date the Dow is up +0.44%.

There were 21 Dow stocks up Friday.

The Dow stock winners Friday were led by Dupont (DD) +2.08% and American Express (AXP) +1.88%.

The Dow stock losers Friday were led by McDonald’s (MCD) -2.18% and Nike (NKE) -0.98%.

One time Dow stock Alcoa (AA -0.11%) was upgraded to ‘Buy’ from ‘Neutral at Bank of America Merrill Lynch.

General Electric Co. (GE) announced a group of investments worth at least $1.4 billion in Saudi Arabia as the Persian Gulf kingdom seeks to reduce its oil dependence by further opening up its economy to international businesses.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is up two-tenths of a cent at $2.282 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) reported earnings on 5/10/2016 after the market close of $1.36, missing estimates calling for $1.404 per share.

Home Depot (HD) reports\ed earnings on 5/17/2016 before the market open of $1.44, beating estimates of $1.35 per share.

Cisco (CSCO) reported earnings on 5/18/2016 after the close of $0.57, beating estimates calling for $0.502 per share.

Wal-Mart (WMT) reports earnings on 5/19/2016 before the market open.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) is up +7.44% year-to-date.

Financial Calendar

0615 ET St. Louis Fed President James Bullard (voter) delivers a presentation on the U.S. economy and monetary policy at the Official Monetary and Financial Institution Forum in Beijing.

0800 ET San Francisco Fed President John Williams (non-voter) speaks at the Council on Foreign Relations on the evolving challenges and approaches to monetary policy and their implications for fiscal policies targeted at enhancing long-term growth.

0945 ET Prelim-May Markit manufacturing PMI expected +0.2 to 51.0, Apr -0.7 to 50.8.

1100 ET USDA weekly grain export inspections.

1500 ET USDA Apr Cold Storage.

1600 ET USDA Weekly Crop Progress.

1830 ET Philadelphia Fed President Patrick Harker (non-voter) speaks on the economic outlook at the Philadelphia Club.

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