The Dow Market Happenings For Thursday, August 18, 2016

Dow stocks at 52 week highs include Caterpillar (CAT).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -11 points.

Wednesday the Dow was up +21.92 (+0.12%) at 18,573.94.

Year-to-date the Dow is up +6.59%.

There were 21 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Pfizer (PFE) +1.01% and 3M (MMM) +0.97%.

The Dow stock losers Wednesday were led by Cisco (CSCO) -1.29% and McDonald’s (MCD) -0.71%.

Cisco Systems (CSCO -1.29%) lost nearly 2% in premarket trading after it said it sees Q1 adjusted ES of 58 cents-60 cents, below consensus of 60 cents, and then said it will cut as many as 5,500 jobs of 7% of its global workforce, citing a “challenging macro environment.”

Wal-Mart (WMT +0.05%) climbed over 3% in premarket trading after it reported Q2 adjusted EPS of $1.07, better than consensus of $1.02, and then raised guidance on fiscal 2017 adjusted EPS to $4.15-$4.35 from a Feb view of $4.00-$4.30.

Jobless claims fell by 4,000 to 262,000 in the week ended Aug. 13, the fewest in a month. The median forecast called for 265,000.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is up three-tenths of a cent at $2.135 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 6/28/16 after the market close of $0.49, beating estimates calling for $0.477 per share.

JPMorgan (JPM) reported earnings on 7/14/2016 before the market open of $1.55, beating estimates calling for $1.431 per share.

IBM (IBM) reported earnings on 7/18/2016 after the market close of $2.95, beating estimates of $2.871 per share.

Goldman Sachs (GS) reported earnings on 7/19/2016 before the market open of $3.72, beating consensus of $3.013 per share.

Johnson & Johnson (JNJ) reported earnings on 7/19/2016 before the market open of $1.74, beating estimates calling for $1.675 per share.

UnitedHealth (UNH) reported earnings on 7/19/2016 before the market open of $1.96, beating estimates calling for $1.889 per share.

Microsoft (MSFT) reports earnings on 7/19/2016 after the market close of $0.69, beating estimates calling for $0.576 per share.

American Express (AXP) reported earnings on 7/20/2016 after the close of $2.10, beating estimates calling for $1.924 per share.

Intel (INTC) reported earnings on 7/20/2016 after the close of $0.59, beating estimates calling for $0.533 per share.

Travelers (TRV) reported earnings on 7/21/2016 before the market open of $2.24, beating estimates of $2.106 per share.

Visa (V) reported earnings on 7/21/2016 after the close of $0.69, beating estimates calling for $0.669 per share.

General Electric (GE) reported earnings on 7/22/2016 before the market open of $0.51, beating estimates calling for $0.455 per share.

Caterpillar (CAT) reported earnings on 7/26/2016 before the market open $0.963, beating estimates for $0.93 per share.

McDonald’s (MCD) reported earnings on 7/26/2016 before the market open of $1.25, missing estimates for $1.376 per share.

Apple (AAPL) reported earnings on 7/26/2016 after the market close of $1.42, beating estimates of $1.389.

United Technologies (UTX) reported earnings on 7/26/2016 before the market open of $1.82, beating estimates calling for $1.652.

Verizon (VZ) reported earnings on 7/26/2016 before the market open of $0.17, missing estimates calling for $0.941 per share.

Dupont (DD) reported earnings on 7/26/2016 after the market close of $1.24, beating estimates calling for $1.095 per share.

Boeing (BA) reported earnings on 7/27/2016 before the market open of $-0.44, beating estimates for $-0.88 per share.

Coca Cola (KO) reported earnings on 7/27/2016 before the market open of $0.60, beating estimates of $0.578 per share.

Chevron (CVX) reported earnings on 7/29/2016 before the market open of $-0.78, below estimates for $0.312 per share.

Exxon Mobil (XOM) reported earnings on 7/29/2016 before the market open of $0.41, below estimates for $0.638 per share.

Merck (MRK) reported earnings on 7/29/2016 before the market open of $0.93, beating estimates for $0.913 per share.

Pfizer (PFE) reports earnings on 8/2/2016 before the market open.

Procter & Gamble (PG) reports earnings on 8/2/2016 before the market open.

Disney (DIS) reported earnings on 8/9/2016 after the market close of $1.62, beating estimates calling for $1.605 per share.

Home Depot (HD) reported earnings on 8/16/2016 before the market open of $1.97, beating estimates for $1.958 per share.

Cisco (CSCO) reported earnings on 8/17/2016 after the market close of $0.63, beating estimates for $0.546 per share.

Wal-Mart (WMT) reported earnings on 8/18/2016 before the market open of $1.07, beating estimates calling for $1.023 per share.

Today’s Featured Dow Stock

Pfizer (PFE)

Pfizer (PFE) is up +8.86% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -1,000 to 265,000, previous -1,000 to 266,000. Weekly continuing claims expected -14,000 to 2.141 million, previous +14,000 to 2.155 million.

0830 ET Aug Philadelphia Fed business outlook survey expected +4.9 to 2.0, Jul -7.6 to -2.9.

0830 ET USDA weekly Export Sales.

1000 ET Jul leading indicators expected +0.3%, Jun +0.3%.

1000 ET New York Fed President William Dudley (voter) gives remarks and takes questions on the regional economy at a press briefing in New York.

1100 ET Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $16 billion), 5-year T-notes (previous $34 billion), and 7-yeaer T-notes (previous $28 billion) to be auctioned Aug 23-25.

1300 ET Treasury auctions $14 billion of 5-year TIPS.

1600 ET San Francisco Fed President John Williams (non-voter) speaks on the economic outlook at the Anchorage Economic Development Corporation Luncheon.

2000 ET Dallas Fed President Robert Kaplan speaks in a moderated Q&A at the Dallas Fed during a joint meeting of the Dallas and Fort Worth chapters of the Association for Financial Professionals.

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