DJIA Market Happenings For Thursday, May 11, 2017

Dow stocks at 52 week highs include McDonald’s (MCD) and Visa (V). Dow stock 52 week lows include Verizon (VZ).

The Market

Premarket today, the Dow was indicated to open down -39 points.

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

Year-to-date the Dow is up +5.97%.

There were 14 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Chevron (CVX) +1.35% and Caterpillar (CAT) +1.08%.

The Dow stock losers Wednesday were led by Disney (DIS) -2.15% and Boeing (BA) -2.00%.

Merck & Co (MRK +1.03%) rose 3% in after-hours trading after it won FDA approval for using its Keytruda drug and chemotherapy for treatment of metastatic non-squamous non-small cell lung cancer.

Verizon (VZ) won a bidding war for Straight Path, beating out rival AT&T with a more than $3 billion bid. Straight Path’s spectrum holdings will give its new owner an advantage in 5G network development.

Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 236,000 for the week ended May 6. Claims for the prior week were unrevised. Economists had forecast first-time applications for jobless benefits rising to 245,000.

European stocks are mostly lower and Asian markets ended higher.

The national average price of gasoline is up one-tenth of a cent at $2.338 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

United Technologies (UTX)

United Technologies (UTX) is up +10.40% year-to-date.

Financial Calendar

0625 ET NY Fed President William Dudley gives speech entitled Benefits and Challenges of Globalization in Mumbai.

0830 ET Weekly initial unemployment claims expected +7,000 to 245,000, previous -19,000 to 238,000. Weekly continuing claims expected +16,000 to 1.980 million, previous -23,000 to 1.964 million.

0830 ET Apr PPI final demand expected +0.2% m/m and +2.2% y/y, Mar -0.1% m/m and +2.3% y/y. Apr PPI ex food & energy expected +0.2% m/m and +1.6% y/y, Mar unch m/m and +1.6% y/y.

0830 ET USDA weekly Export Sales.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned May 18 (previous $11 billion).

1300 ET Treasury auctions $15 billion of 30-year T-bonds

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