The Dow Market Happenings For Thursday, January 12, 2017

Dow stocks at 52 week highs include Apple (AAPL) and Disney (DIS). 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 +98.75 (+0.50%) at 19,954.28.

Year-to-date the Dow is up +0.47%.

There were 23 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Merck (MRK) +2.85% and IBM (IBM)%.

The Dow stock losers Wednesday were led by Pfizer (PFE) -1.82% and Johnson & Johnson (JNJ) -1.23%.

Boeing (BA +0.21%) was rated a new ‘Underperform’ at RBC Capital Markets with a 12-month target price of $136 saying Boeing’s market position is inferior as it is shut out of the next generation of fighter and bomber plane platforms.

Disney (DIS +0.98%) was downgraded to ‘Sell’ from ‘Hold’ at Pivotal Research Group LLC with a 12-month price target of $85.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 247,000 for the week ended Jan. 7. Claims for the prior week were revised to show 2,000 more applications received than previously reported.

European stocks are mostly lower and Asian markets ended lower.

The national average price of gasoline is down five-tenths of a cent at $2.356 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 12/20/16 after the market close of $0.50, beating estimates calling for $0.431 per share.

JPMorgan (JPM) reports earnings on 1/13/2016 before the market open.

UnitedHealth (UNH) reports earnings on 1/17/2017 before the market open.

Goldman Sachs (GS) reports earnings on 1/18/2017 before the market open.

American Express (AXP) reports earnings on 1/19/2017 after the market close.

IBM (IBM) reports earnings on 1/19/2017 after the market close.

General Electric (GE) reports earnings on 1/20/2017 before the market open.

McDonald’s (MCD) reports earnings on 1/23/2017 before the market open.

Dupont (DD) reports earnings on 1/24/2017 before the market open.

Johnson & Johnson (JNJ) reports earnings on 1/24/2017 before the market open.

3M (MMM) reports earnings on 1/24/2017 before the market open.

Travelers (TRV) reports earnings on 1/24/2017 before the market open.

Verizon (VZ) reports earnings on 1/24/2017 before the market open.

Boeing (BA) reports earnings on 1/25/2017 before the market open.

Procter & Gamble (PG) reports earnings on 1/25/2017 before the market open.

Boeing (BA) reports earnings on 1/25/2017 before the market open.

United Technologies (UTX) reports earnings on 1/25/2017 before the market open.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) is up +0.53% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +20,000 to 255,000, previous -28,000 to 235,000. Weekly continuing claims expected -28,000 to 2.084 million, previous +10,000 to 2.112 million.

0830 ET Dec import price index expected +0.7% m/m and +1.8% y/y, Nov -0.3% m/m and -0.1% y/y.

0830 ET Philadelphia Fed President Patrick Harker (voter) speaks at an event in Malvern, Pennsylvania.

0830 ET Chicago Fed President Charles Evans (voter) and Atlanta Fed President Dennis Lockhart (non-voter) speak on the economic outlook and monetary policy at a meeting of the American Council of Life Insurers in Naples, FL.

0830 ET USDA weekly Export Sales.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned Jan 19 (previous $11 billion).

1200 ET USDA Jan WASDE crop production.

1200 ET USDA Quarterly grain stocks.

1300 ET Treasury auctions $12 billion of 30-year T-bonds.

1345 ET Dallas Fed President Robert Kaplan (voter) will speak at the Dallas Regional Chamber Annual Meeting.

1400 ET Dec monthly budget statement expected -$26.0 billion, Nov -$136.7 billion.

1900 ET Fed Chair Janet Yellen addresses a town hall meeting with educators and will speak briefly about the mission and responsibilities of the Federal Reserve System. Q&A will follow.

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