The Dow Market Happenings For Thursday, February 23, 2017

Dow stocks at 52 week highs include Apple (AAPL), Dupont (DD), JPMorgan (JPM), 3M (MMM), Procter & Gamble (PG) and Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to down -21 points.

Wednesday the Dow was up +32.60 (+0.16%) at 20,775.60.

Year-to-date the Dow is up +4.96%.

There were 14 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Dupont (DD) +3.39% and Nike (NKE) +1.53%.

The Dow stock losers Wednesday were led by Intel (INTC) -1.23% and Chevron (CVX) -1.20%.

Home Depot (HD +0.16%) was upgraded to ‘Overweight’ from ‘Equalweight’ at Morgan Stanley with a price target of $165.

Jobless claims rose by 6,000 to 244,000 in the week ended Feb. 18. The four-week average declined to the lowest level since July 1973. A tight labor market and growing economy are prompting companies to hold on to employees, setting the stage for larger wage gains. Last week included the 12th of the month, which coincides with the period the Labor Department surveys employers to calculate monthly payroll data. The four-week moving average decreased by 4,000 to 241,000, the lowest since July 21, 1973. The average is lower than the 247,500 during the comparable period in January.

Boeing (BA) delivered the first 787-9 to Korean Air on February 22, handing over the first Dreamliner a Korean carrier will operate in South Korea.

European stocks are mostly lower and Asian markets ended lower.

The national average price of gasoline is unchanged at $2.285 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) reported earnings on 1/13/2016 before the market open of $1.71, beating estimates calling for $1.422 per share.

UnitedHealth (UNH) reported earnings on 1/17/2017 before the market open of $2.11, beating estimates of $2.073 per share.

Goldman Sachs (GS) reported earnings on 1/18/2017 before the market open of $5.08, beating estimates of $4.761 per share.

American Express (AXP) reported earnings on 1/19/2017 after the market close of $0.91, lower than estimates calling for $0.979 per share.

IBM (IBM) reported earnings on 1/19/2017 after the market close of $5.01, beating estimates calling for $4.89 per share.

Procter & Gamble (PG) reported earnings on 1/20/2017 before the market open of $1.13, beating estimates calling for $1.065 per share.

General Electric (GE) reported earnings on 1/20/2017 before the market open of $1.08, beating estimates of $1.06 per share.

McDonald’s (MCD) reported earnings on 1/23/2017 before the market open of $1.44, beating estimates calling for $1.407 per share.

Dupont (DD) reported earnings on 1/24/2017 before the market open of $0.51, beating estimates calling for $0.419 per share.

Johnson & Johnson (JNJ) reported earnings on 1/24/2017 before the market open of $1.58, beating estimates of $1.556 per share.

3M (MMM) reported earnings on 1/24/2017 before the market open of $1.88, barely beating estimates calling for $1.871 per share.

Travelers (TRV) reported earnings on 1/24/2017 before the market open of $3.20, smashing estimates calling for $2.893 per share.

Verizon (VZ) reported earnings on 1/24/2017 before the market open of $0.86, missing estimates calling for $0.892 per share.

Boeing (BA) reported earnings on 1/25/2017 before the market open of $2.47, beating consensus of $2.336 per share.

United Technologies (UTX) reported earnings on 1/25/2017 before the market open of $1.56, meeting estimates calling for $1.557 per share.

Caterpillar (CAT) reported earnings on 1/26/2017 before the market open of $0.83, beating estimates calling for $0.654 per share.

Intel (INTC) reported earnings on 1/26/2017 after the market close of $0.79, beating estimates calling for $0.755 per share.

Microsoft (MSFT) reported earnings on 1/26/2017 after the market close of $0.83, beating estimates of $0.785 per share.

Chevron (CVX) reported earnings on 1/27/2017 after the market close of $0.22, missing estimates calling for $0.64 per share.

Exxon Mobil (XOM) reported earnings on 1/31/2017 before the market open of $0.41, missing estimates calling for $0.724 per share.

Apple (AAPL) reported earnings on 1/31/2017 after the market close of$3.36, beating estimates calling for $3.219 per share.

Pfizer (PFE) reported earnings on 1/31/2017 after the market close of $0.47, missing estimates calling for $0.496 per share.

Merck (MRK) reported earnings on 2/2/2017 before the market open of $0.89, beating estimates calling for $0.88 per share.

Visa (V) reported earnings on 2/2/2017 after the market close of $0.86,beating estimates calling for $0.777 per share.

Disney (DIS) reported earnings on 2/7/2017 after the market close of $1.55, beating estimates calling for $1.478 per share.

Coca Cola (KO) reported earnings on 2/9/2017 before the market open of$0.37, barely beating estimates calling for $0.362 per share.

Cisco (CSCO) reported earnings on 2/15/2017 after the market close of $0.57, beating estimates calling for $0.502 per share.

Home Depot (HD) reported earnings on 2/21/2017 before the market open of $1.44, beating estimates calling for $1.328 per share.

Wal-Mart (WMT) reported earnings on 2/21/2017 before the market open of $1.30, barely beating estimates calling for $1.292 per share.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) is up +4.18% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +1,000 to 240,000, previous +5,000 to 239,000. Weekly continuing claims expected -11,000 to 2.065 million, previous -3,000 to 2.076 million.

0830 ET Jan Chicago Fed national activity index expected -0.17 to -0.03, Dec +0.47 to 0.14.

0900 ET Dec FHFA house price index expected +0.5%, Nov +0.5% m/m. Q4 house price purchase index expected +0.4% q/q, Q3 +1.5% q/q.

1100 ET Feb Kansas City Fed manufacturing activity expected unch at 9, Jan unch at 9.

1100 ET EIA Weekly Petroleum Status Report.

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

1500 ET USDA Jan Cold Storage.

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