DJIA Market Happenings For Thursday, June 2, 2016

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

The Market

Premarket today, the Dow was indicated to open down -37 points.

Wednesday the Dow was up +2.47 (+0.01%) at 17,789.67.

Year-to-date the Dow is up +2.09%.

There were 17 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Dupont (DD) +1.51% and Procter & Gamble (PG) +0.92%.

The Dow stock losers Wednesday were led by Apple (AAPL) -1.40% and Verizon (VZ) -0.92%.

Exxon Mobile (XOM +0.25%) was downgraded to ‘Neutral’ from ‘Buy’ at Bank of America/Merrill Lynch.

The ADP Report shows U.S. private employers added 173,000 jobs in May, below economists’ expectations. Economists had forecast the ADP National Employment Report would show a gain of 175,000 jobs, with estimates ranging from 105,000 to 200,000. Private payroll gains for April were revised up to 166,000 from an originally reported 156,000 increase.

Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 267,000 for the week ended May 28, the Labor Department said on Thursday. Claims for the prior week were unrevised. Economists had forecast initial claims rising to 270,000 in the latest week. Claims have now been below 300,000, a threshold associated with a strong job market, for 65 straight weeks, the longest streak since 1973. The four-week moving average of claims fell 1,750 to 276,750 last week.

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

The national average price of gasoline is up five-tenths of a cent at $2.327 per gallon.

Earnings Reports.

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

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) is down -12.75% year-to-date.

Financial Calendar

0730 ET May Challenger job cuts, Apr +5.8% y/y.

0815 ET May ADP employment change expected +174,000, Apr +156,000.

0830 ET Weekly initial unemployment claims expected +2,000 to 270,000, previous -10,000 to 268,000. Weekly continuing claims expected -13,000 to 2.150 million, previous +10,000 to 2.163 million.

0945 ET May New York ISM, Apr +6.6 to 57.0.

1100 ET EIA Weekly Petroleum Status Report.

1100 ET Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $23 billion) and 30-year T-bonds (previous $15 billion) to be auctioned Jun 7-9.

1300 ET Dallas Fed President Robert Kaplan (non-voter) speaks on the economy at Boston Colleges Eleventh Annual Finance Conference.

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