The Dow Market Happenings For Wednesday, May 10, 2017

Dow stocks at 52 week highs include Apple (AAPL), McDonald’s (MCD), United Technologies (UTX), Visa (V) and Wal-Mart (WMT). Dow stock 52 week lows include Verizon (VZ).

The Market

Premarket today, the Dow was indicated to open down -30 points.

Tuesday the Dow was down -36.50 (-0.17%) at 20,975.78.

Year-to-date the Dow is up +6.30%.

There were 11 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Nike (NKE) +1.09% and Apple (AAPL) +0.64%.

The Dow stock losers Tuesday were led by Chevron (CVX) -1.50% and Cisco (CSCO) -1.14%.

Wal-Mart (WMT -0.50%) was rated a new ‘Buy’ at Gordon Haskett with a 12-month target price of $90.

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

The national average price of gasoline is down three-tenths of a cent at $2.337 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.

JPMorgan (JPM) reported earnings on 4/13/2017 before the market open of $1.65, beating estimates calling for $1.512 per share.

Johnson & Johnson (JNJ) reported earnings on 4/18/2017 before the market open of $1.83, beating estimates of $1.767 per share.

Goldman Sachs (GS) reported earnings on 4/18/2017 before the market open of $5.15, missing estimates calling for $5.34 per share.

UnitedHealth (UNH) reported earnings on 4/18/2017 before the market open of $2.37, beating estimates of $2.18 per share.

IBM (IBM) reported earnings on 4/18/2017 after the market close of $2.38, beating estimates calling for $2.341 per share.

American Express (AXP) reported earnings on 4/19/2017 after the market close of $1.34, beating estimates calling for $1.276 per share.

Travelers (TRV) reported earnings on 4/20/2017 before the market open of $2.16, missing estimates calling for $2.409 per share.

Verizon (VZ) reported earnings on 4/20/2017 before the market open of $0.95, missing estimates calling for $0.977 per share.

Visa (V) reported earnings on 4/20/2017 after the market close of $0.86, beating estimates calling for $0.789 per share.

General Electric (GE) reported earnings on 4/21/2017 before the market open of $0.21, beating estimates calling for $0.17 per share.

3M (MMM) reported earnings on 4/25/2017 before the market open$2.16, beating estimates calling for $2.069 per share.

Caterpillar (CAT) reported earnings on 4/25/2017 before the market open of $1.28, smashing estimates calling for $0.618 per share.

Dupont (DD) reported earnings on 4/25/2017 before the market open of $1.64, beating estimates of $1.383 per share.

Coca Cola (KO) reported earnings on 4/25/2017 before the market open of $0.43, missing estimates calling for $0.438 per share.

McDonald’s (MCD) reported earnings on 4/25/2017 before the market open of $1.47, beating estimates calling for $1.318 per share.

Boeing (BA) reported earnings on 4/26/2017 before the market open of $2.01, beating estimates of $1.914 per share.

United Technologies (UTX) reported earnings on 4/26/2017 before the market open of $1.48, beating estimates calling for $1.387 per share.

Procter & Gamble (PG) reported earnings on 4/26/2017 before the market open of $0.96, beating estimates of $0.936 per share.

Intel (INTC) reported earnings on 4/27/2017 after the market close of $0.66, missing estimates calling for $0.672 per share.

Microsoft (MSFT) reported earnings on 4/27/2017 after the market close of $0.73, beating estimates calling for $0.719 per share.

Exxon Mobil (XOM) reported earnings on 4/28/2017 before the market open of $0.95, beating estimates calling for $0.909 per share.

Chevron (CVX) reported earnings on 4/28/2017 before the market open of $1.41, smashing estimates of $0.869 per share.

Merck (MRK) reported earnings on 5/2/2017 before the market open of $0.88, beating estimates of $0.847 per share.

Pfizer (PFE) reported earnings on 5/2/2017 before the market open of $0.69, barely beating estimates calling for $0.6819 per share.

Apple (AAPL) reported earnings on 5/2/2017 after the market close of $2.10, beating estimates calling for $2.060395 per share.

Disney (DIS) reports earnings on 5/9/2017 after the market close.

Home Depot (HD) reports earnings on 5/16/2017 before the market open.

Cisco (CSCO) reports earnings on 5/17/2017 after the market close.

Wal-Mart (WMT) reports earnings on 5/18/2017 before the market open.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) is down -2.02% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -0.1% with purchase sub-index +4.2% and refi sub-index -4.7%.

0830 ET Apr import price index expected +0.1% m/m and +3.6% y/y, Mar -0.2% m/m and +4.2% y/y. Apr import prices ex-petroleum expected +0.1% m/m, Mar +0.2%. Apr export prices expected +0.2%, Mar +0.2% m/m and +3.6% y/y.

1030 ET EIA Weekly Petroleum Status Report.

1200 ET Boston Fed President Eric Rosengren (non-voter) speaks on the economy at the Lake Champlain Regional Chamber and Central Vermont Chamber of Commerce.

1200 ET USDA May WASDE crop production.

1300 ET Treasury auctions $23 billion of 10-year T-notes.

1320 ET Minneapolis Fed President Neel Kashkari (voter) holds Q&A at Minnesota Business Ethics Awards.

1400 ET Apr monthly budget statement expected $177.0 billion, Mar -$176.2 billion.

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