DJIA Market Happenings For Wednesday, March 29, 2017

Dow stocks at 52 week highs include Apple (AAPL), Disney (DIS) and Dupont (DD). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -8 points.

Tuesday the Dow was up +150.52 (+0.73%) at 20,701.50.

Year-to-date the Dow is up +4.75%.

There were 27 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Apple (AAPL) +2.07% and Goldman Sachs (GS) +1.71%.

The Dow stock losers Tuesday were led by Johnson & Johnson (JNJ) -0.11% and Pfizer (PFE) -0.06%.

President Trump lifted a moratorium on federal coal leases Tuesday, paving the way for excavation of a fossil fuel on public land in the West that few mining companies seem to want. The order follows the president’s campaign promise to revive the struggling coal industry and bring back thousands of lost mining jobs in rural America. But industry experts say coal mining jobs will continue to be lost, not because of blocked access to coal, but because power plant owners are turning to natural gas. At least six plants that relied on coal have closed or announced they will close since Trump’s victory in November, including the main plant at the Navajo Generating Station in Arizona, the largest in the West. Another 40 are projected to close during the president’s four-year term.

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

The national average price of gasoline is up eight-tenths of a cent at $2.291 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 3/21/2017 after the market close of $0.68, beating estimates calling for $0.524 per share..

Today’s Featured Dow Stock

United Technologies (UTX)

United Technologies (UTX) is up +2.85% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.7% with purchase sub-index -2.1% and refi sub-index -3.3%.

0920 ET Chicago Fed President Charles Evans (voter) speaks on current economic conditions and monetary policy at the DZ Bank-OMFIF International Capital Markets Conference in Frankfurt.

1000 ET Feb pending home sales expected +2.5% m/m, Jan -2.8% m/m and +2.7% y/y.

1030 ET EIA Weekly Petroleum Status Report.

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

1130 ET Boston Fed President Eric Rosengren (non-voter) speaks on the economic outlook to the Economic Club of Boston.

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

1315 ET San Francisco Fed President John Williams speaks to the Forecasters Club of New York on From Sustained Recovery to Sustainable Growth: What a Difference Four Years Makes.

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