The Dow Market Happenings For Thursday, June 16, 2016

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

The Market

Premarket today, the Dow was indicated to open down -78 points.

Wednesday the Dow was down -34.65 (-0.20%) at 17,640.17.

Year-to-date the Dow is up +1.23%.

There were 13 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Home Depot (HD) +1.03% and American Express (AXP) -0.57%.

The Dow stock losers Wednesday were led by Intel (INTC) -1.65% and Cisco (CSCO) -1.07%.

Weekly U.S. unemployment benefit applications rose 13,000 to a seasonally adjusted 277,000, the highest in four weeks. The less volatile four-week average declined slightly to 269,250. Applications have remained below 300,000 for 67 straight weeks now, the longest such streak since 1973. Just 2.15 million Americans are receiving benefits, 4 percent lower than a year earlier. Businesses have cut back sharply on hiring in April and May with employers adding an average of only 116,000 jobs in the past three months, half last year’s average of 230,000.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is down seven-tenths of a cent at $2.359 per gallon.

Earnings Reports.

Nike (NKE) reports earnings on 6/28/16 after the market close.

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) is down -18.90%.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +6,000 to 270,000, previous -4,000 to 264,000. Weekly continuing claims expected +45,000 to 2.140 million, previous -77,000 to 2.095 million.

0830 ET May CPI expected +0.3% m/m and +1.1% y/y, Apr +0.4% m/m and +1.1% y/y. May CPI ex food & energy expected +0.2% m/m and +2.2% y/y, Apr +0.2% m/m and +2.1% y/y.

0830 ET Jun Philadelphia Fed business outlook survey expected +2.8 to 1.0, May -0.2 to -1.8.

0830 ET Q1 current account balance expected -$125.0 billion, Q4 -$125.31 billion.

0830 ET USDA weekly Export Sales.

1000 ET Jun NAHB housing market index expected +1 to 59, May unch at 58.

1100 ET Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion), 7-year T-notes (previous $28 billion), and 30-year TIPS (previous $7 billion) to be auctioned Jun 20-23.

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