The Dow Market Happenings For Friday, June 2, 2017

Dow stocks at 52 week highs include Caterpillar (CAT), McDonald’s (MCD). 3M (MMM), UnitedHealth (UNH) and Wal-Mart (WMT). Dow stock 52 week lows include Exxon Mobil (XOM).

The Market

Premarket today, the Dow was indicated to open up +40 points.

Thursday the Dow was up +135.53 (+0.65%) at 21,144.18.

Year-to-date the Dow is up +6.99%.

There were 26 Dow stocks up Thursday.

The Dow stock winners Thursday were led by UnitedHealth (UNH) +2.51% and Goldman Sachs (GS) +1.78%.

The Dow stock losers Thursday were led by Goldman Sachs (GS) -3.28% and JPMorgan (JPM) -2.09%.

That’s three days in a row for Goldman Sachs as a top loser.

The Friday Jobs Report show employment grew in May. 138,000 jobs were added last month. Economists had expected a gain of about 185,000.

The unemployment rate fell to 4.3 percent, the lowest since 2001.

The average hourly wage grew by 0.2 percent, bringing the year-over-year increase to 2.5 percent.

People who work part time but want full-time jobs, and those who have become too discouraged to keep looking but would take a job if they could find one, dropped to 8.4 percent.

The increase in total nonfarm payroll employment for March was revised to 50,000, from 79,000, and the increase for April was revised to 174,000, from 211,000.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is up one-tenth of a cent at $2.382 per gallon.

Earnings Reports.

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

Today’s Featured Dow Stock

Exxon Mobil (XOM)

Exxon Mobil (XOM) is down -10.59% year-to-date.

Financial Calendar

0830 ET May non-farm payrolls expected +180,000, Apr +211,000. May private payrolls expected +173,000, Apr +194,000. May manufacturing payrolls expected +5,000, Apr +6,000. May unemployment rate expected unch at 4.4%, Apr -0.1 to 4.4%.

0830 ET May avg hourly earnings expected +0.2% m/m and +2.6% y/y, Apr +0.3% m/m and +2.5% y/y. May avg weekly hours all-employees expected unch at 34.4 hours, Apr +0.1 to 34.4 hours.

0830 ET Apr trade balance expected -$46.1 billion, Mar -$43.7 billion.

0830 ET USDA weekly Export Sales.

1245 ET Philadelphia Fed President Patrick Harker (voter) speaks on the economic outlook at the Philadellphia Feds Economic Growth & Mobility Project at the Pennsylvania Economic Association 2017 Conference.

1300 ET Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A at a City of Addison Economic Development Luncheon.

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