The Dow Market Happenings For Wednesday, March 1, 2017

Dow stocks at 52 week highs include American Express (AXP), Boeing (BA), UnitedHealth (UNH) and United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to up +160 points.

Tuesday the Dow was down -25.20 (-0.12%) at 20,812.24.

Year-to-date the Dow is up +5.31%.

There were 10 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Coca Cola (KO) +0.70% and Chevron (CVX) +0.67%.

The Dow stock losers Tuesday were led by Wal-Mart (WMT) -1.13% and Nike (NKE) -0.92%.

Intel (INTC -0.85%) was downgraded to ‘Underperform’ from ‘Market Perform’ at Bernstein with a 12-month target price of $30.

U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households’ purchasing power, pointing to moderate economic growth in the first quarter. The Commerce Department said on Wednesday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2 percent after an unrevised 0.5 percent rise in December. Economists had forecast consumer spending gaining 0.3 percent in January.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is up 1.1 cents at $2.300 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) is up +4.23% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.0% with purchase sub-index -2.8% and refi sub-index -1.0%.

0830 ET Jan personal spending expected +0.3%, Dec +0.5%. Jan personal income expected +0.3%, Dec +0.3%. Jan PCE deflator expected +0.5% m/m and +2.0% y/y, Dec +0.2% m/m and +1.6% y/y. Jan core PCE deflator expected +0.3% m/m and +1.7% y/y, Dec +0.1% m/m and +1.7% y/y.

0945 ET Revised Feb Markit manufacturing PMI expected +0.2 to 54.5, prelim-Feb -0.7 to 54.3.

1000 ET Feb ISM manufacturing index expected unch at 56.0, Jan +1.5 to 56.0. Feb ISM new orders, Jan +0.1 to 60.4. Feb ISM employment, Jan +3.3 to 56.1. Feb ISM prices paid expected -1.0 to 68.0, Jan +3.5 to 69.0.

1000 ET Jan construction spending expected +0.6% m/m, Dec -0.2% m/m.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Dallas Fed President Robert Kaplan (voter) speaks at Paul Quinn College in Dallas, TX.

1400 ET Fed Beige Book.

1800 ET Fed Governor Lael Brainard speaks on the economic outlook and monetary policy at Harvard Universitys John F. Kennedy School of Government.

n/a Feb total vehicle sales expected 17.70 million, Jan 17.48 million. Feb domestic vehicle sales expected 13.65 million, Jan 13.60 million.

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