DJIA Market Happenings For Wednesday, November 23, 2016

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

The Market

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

Tuesday the Dow was up +67.18 (+0.35%) at 19,023.87.

Year-to-date the Dow is up +9.18%.

There were 24 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Verizon (VZ) +2.44% and Home Depot (HD) +2.15%.

The Dow stock losers Tuesday were led by Visa (V) -2.15% and Johnson & Johnson (JNJ) -1.97%.

Initial claims for state unemployment benefits increased 18,000 to a seasonally adjusted 251,000 for the week ended Nov. 19. Claims for the prior week were revised to show 2,000 fewer applications filed than previously reported. Claims have now been below 300,000, a threshold associated with a healthy labor market, for 90 straight weeks. Economists had forecast first-time applications for jobless benefits rising to 250,000 in the latest week. The claims report was released a day early because of the Thanksgiving holiday on Thursday. The four-week moving average of claims, fell 2,000 to 251,000 last week.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is down one-tenth of a cent at $2.131 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

Procter & Gamble (PG)

Procter & Gamble (PG) is up +4.22% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -9.2% with purchase sub-index -6.2% and refi sub-index -10.9%.

0830 ET Oct durable goods orders expected +1.7% and +0.2% ex transportation, Sep -0.3% and +0.1% ex transportation. Oct capital goods new orders nondefense ex aircraft expected +0.3%, Sep -1.3%.

0830 ET Weekly initial unemployment claims expected +15,000 to 250,000, previous -19,000 to 235,000. Weekly continuing claims expected +37,000 to 2.014 million, previous -66,000 to 1.977 million.

0900 ET Sep FHFA house price index expected +0.6% m/m, Aug +0.7% m/m. Q3 house price purchase index, Q2 +1.2%.

0945 ET Nov Markit manufacturing PMI expected +0.1 to 53.5, Oct +1.9 to 53.4.

1000 ET Oct new home sales expected -0.5% to 590,000, Sep +3.1% to 593,000.

1000 ET Final-Nov University of Michigan U.S. consumer sentiment index expected unch at 91.6, prelim-Nov +4.2 to 91.6.

1030 ET EIA Weekly Petroleum Status Report.

1130 ET Treasury auctions $13 billion of 2-year floating-rate notes.

1300 ET Treasury auctions $28 billion of 7-year T-notes.

1400 ET Minutes of the Nov 1-2 FOMC meeting.

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