DJIA Market Happenings For Thursday, November 17, 2016

Dow stocks at 52 week highs include Chevron (CVX) and UnitedHealth (UNH).There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -5 points.

Wednesday the Dow was down -54.92 (-0.29%) at 18,868.14.

Year-to-date the Dow is up +8.28%.

There were 19 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Verizon (VZ) +2.58% and Chevron (CVX) +2.22%.

The Dow stock losers Wednesday were led by Home Depot (HD) +2.56% and Boeing (BA) -1.25%.

Cisco (CSCO -0.41%) dropped over 4% in premarket trading after it said it sees Q2 adjusted EPS of 55 cents-57 cents, weaker than consensus of 59 cents.

Microsoft (MSFT +1.32%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs with a price target of $68.

Shares of Wal-Mart (WMT) fell 4% in premarket trading after the retailer reported U.S. comparable sales rose 1.2% in its third fiscal quarter.

Jobless claims dropped by 19,000 to 235,000 in the week ended Nov. 12, which included the Veterans Day holiday. The median estimate called for 257,000. Continuing claims fell below 2 million to a 16-year low. Filings for unemployment benefits have stayed below 300,000 for 89 straight weeks. The longest streak since 1970 and a level typical for a healthy labor market. Estimates ranged from 245,000 to 275,000. The prior week’s reading was unrevised at 254,000.
The four-week average of claims, a less-volatile measure than the weekly figure, declined to 253,500 from 260,000 in the prior week.

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

The national average price of gasoline is down one-tenth of a cent at $2.148 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/27/2016 after the market close of $0.73, beating consensus of $0.556 per share.

JPMorgan (JPM) reported earnings on 10/17/2016 before the market open of $1.58, beating estimates calling for $1.401 per share..

IBM (IBM) reported earnings on 10/17/2016 after the market close of $3.29, beating estimates of $3.214 per share.

Goldman Sachs (GS) reported earnings on 10/18/2016 before the market open of $4.88, crushing estimates calling for $3.855 per share.

Johnson & Johnson (JNJ) reported earnings on 10/18/2016 before the market open of $1.68, beating estimates for $1.646 per share.

Intel (INTC) reported earnings on 10/18/2016 before the market open of $0.80, beating estimates calling for $0.727 per share.

UnitedHealth (UNH) reported earnings on 10/18/2016 before the market open of $2.17, beating estimates of $2.077 per share.

American Express (AXP) reported earnings on 10/19/2016 after the market close of $1.24, beating estimates of $0.963 per share.

Microsoft (MSFT) reported earnings on 10/20/2016 after the market close of $0.76, beating estimates of $0.678 per share.

Verizon (VZ) reported earnings on 10/20/2016 before the market open of $1.01, beating estimates of $0.992 per share.

Travelers (TRV) reported earnings on 10/20/2016 before the market open of $2.40, beating estimates of $2.374 per share.

General Electric (GE) reported earnings on 10/21/2016 before the market open of $0.32, Beating estimates of $0.305 per share.

McDonald’s (MCD) reported earnings on 10/21/2016 before the market open of $1.50, beating estimates of $1.483 per share.

Visa (V) reported earnings on 10/24/2016 before the market open of $0.78, beating estimates calling for $0.729 per share.

Apple (AAPL) reported earnings on 10/25/2016 after the market close of $1.67, barely beating estimates of $1.656 per share.

Procter & Gamble (PG) reported earnings on 10/25/2016 before the market open of $1.03, beating estimates of $0.976 per share.

Merck (MRK) reported earnings on 10/25/2016 before the market open of $1.07, beating estimates of $0.984 per share.

3M (MMM) reported earnings on 10/25/2016 before the market open $2.15, barely beating estimates of $2.144 per share.

United Technologies (UTX) reported earnings on 10/25/2016 before the market open of $1.76, beating estimates calling for $1.68 per share.

Dupont (DD) reported earnings on 10/25/2016 before the market open of $0.34, beating estimates of $0.21 per share.

Caterpillar (CAT) reported earnings on 10/25/2016 before the market open of $0.85, beating estimates calling for $0.748 per share.

Coca Cola (KO) reported earnings on 10/26/2016 before the market open $0.49, barely beating estimates calling for $0.482 per share.

Boeing (BA) reported earnings on 10/26/2016 before the market open of $3.51, smashing estimates calling for $2.62 per share.

Chevron (CVX) reported earnings on 10/28/2016 before the market open of $0.68, beating estimates calling for $0.39 per share.

Exxon Mobil (XOM) reported earnings on 10/28/2016 before the market open of $0.63, beating estimates of $0.595 per share.

Pfizer (PFE) reported earnings on 11/1/2016 before the market open of $0.61, missing estimates calling for $0.62 per share.

Disney (DIS) reported earnings on 11/10/2016 after the market close of $1.10, missing estimates calling for $1.15 per share.

Home Depot (HD) reported earnings on 11/15/2016 before the market open of $1.60, beating estimates calling for $1.576 per share.

Cisco (CSCO) reported earnings on 11/16/2016 after the market close of $0.61, beating estimates calling for $0.543 per share.

Wal-Mart (WMT) reported earnings on 11/17/2016 before the market open of $0.98 per share. Estimates called for $0.965 per share.

Today’s Featured Dow Stock

Nike (NKE)

Nike (NKE) is down -18.91% year-to-date.

Financial Calendar

0800 ET Fed Chair Janet Yellens prepared speech released to the public ahead of her testimony before the Joint Economic Committee of Congress.

0830 ET Weekly initial unemployment claims expected +3,000 to 257,000, previous -11,000 to 254,000. Weekly continuing claims expected -11,000 to 2.030 million, previous +18,000 to 2.041 million.

0830 ET Oct housing starts expected +10.7% to 1.159 million, Sep -9.0% to 1.047 million. Oct building permits expected -2.5% to 1.195 million, Sep +6.3% to 1.225 million.

0830 ET Oct CPI expected +0.4% m/m and +1.6% y/y, Sep +0.3% m/m and +1.5% y/y. Oct CPI ex food & energy expected +0.2% m/m and +2.2% y/y, Sep +0.1% m/m and +2.2% y/y.

0830 ET Nov Philadelphia Fed business outlook survey expected -2.1 to 7.6, Oct -3.1 to 9.7.

0830 ET USDA weekly Export Sales.

0850 ET New York Fed President William Dudley (voter) delivers welcoming remarks at a conference on international macroeconomics and finance hosted by the New York Fed.

1000 ET Fed Chair Janet Yellen speaks on the economic outlook before the Joint Economic Committee of Congress.

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-year T-notes (previous $28 billion) to be auctioned Nov 21-23.

1300 ET Treasury auctions 10-year TIPS.

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