DJIA Market Happenings For Wednesday, August 2, 2017

Dow stocks at 52 week highs include Wal-Mart (WMT) and UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +47 points.

Tuesday the Dow was up +72.80 (+0.33%) at 21,963.92.

Year-to-date the Dow is up +11.14%.

There were 22 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Intel (INTC) +2.48% and Chevron (CVX) +1.46%.

The Dow stock losers Tuesday were led by Boeing (BA) -1.25% and Caterpillar (CAT) -0.75%.

The Dow breaks through 22,000.

Apple (AAPL +0.89%) rallies over 6% in premarket trading to a record high after it reported Q3 EPS of $1.67, better than consensus of $1.57, and then said it sees Q4 revenue of $49 billion-$52 billion, the midpoint well above consensus of $49.12 billion.

U.S. private employers added 178,000 jobs in July, below economists’ expectations. Economists had forecast the ADP National Employment Report would show a gain of 185,000 jobs, with estimates ranging from 151,000 to 225,000 jobs added. Private payroll gains in the month earlier were revised up to 191,000 from an originally reported 158,000 increase.

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

The national average price of gasoline is up a penny at $2.330 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 6/29/17 after the market close of $0.60, beating estimates calling for $0.512 per share.

JPMorgan (JPM) reported earnings on 7/14/17 before the market open of $1.82, beating estimates calling for $1.62 per share.

Goldman Sachs (GS) reported earnings on 7/18/17 before the market open of $3.95, beating estimates calling for $3.71 per share.

Johnson & Johnson (JNJ) reported earnings on 7/18/17 before the market open of $1.83, meeting estimates calling for $1.827 per share.

UnitedHealth (UNH) reported earnings on 7/18/17 before the market open of $2.46, beating estimates of $2.398 per share.

IBM (IBM) reported earnings on 7/18/17 after the market close of $2.97, beating estimates calling for $2.758 per share.

American Express (AXP) reported earnings on 7/19/17 after the market close of $1.47, meeting estimates of $1.47 per share..

Travelers (TRV) reported earnings on 7/20/2017 before the market open of $2.11, missing estimates calling for $2.212 per share.

Microsoft (MSFT) reported earnings on 7/20/2017 after the market close of $0.98, beating estimates calling for $0.736 per share.

Visa (V) reported earnings on 7/20/2017 after the market close of $0.86, beating estimates of $0.843 per share.

General Electric (GE) reported earnings on 7/21/2017 before the market open of $0.28, missing estimates calling for $0.532 per share.

Caterpillar (CAT) reported earnings on 7/25/2017 before the market open of$1.49, beating estimates calling for $1.262 per share.

Dupont (DD) reported earnings on 7/25/2017 before the market open of $1.38, beating estimates calling for $1.341 per share.

McDonald’s (MCD) reported earnings on 7/25/2017 before the market open of $1.70, beating estimates of $1.66 per share.

3M (MMM) reported earnings on 7/25/2017 before the market open of $2.58, beating estimates calling for $2.504 per share.

United Technologies (UTX) reported earnings on 7/25/2017 before the market open of $1.85, beating estimates of $1.804 per share.

Coca Cola (KO) reported earnings on 7/26/2017 before the market open of $0.59, beating estimates calling for $0.576 per share.

Boeing (BA) reported earnings on 7/26/2017 before the market open of $2.55, beating estimates of $2.383 per share.

Procter & Gamble repored earnings on 7/27/2017 before the market open of $0.85, beating estimates of $0.789 per share.

Verizon (VZ) reported earnings on 7/27/2017 before the market open of $0.96, meeting expectations for $0.961 per share.

Intel (INTC) reported earnings on 7/27/2017 after the market close of $0.72, beating expectations for $0.692 per share.

Chevron (CVX) reported earnings on 7/28/2017 before the market open of $0.77, missing estimates calling for $0.977 per share.

Exxon Mobil (XOM) reported earnings on 7/28/2017 before the market open of $0.78, missing estimates calling for $0.881 per share.

Merck (MRK) reported earnings on 7/28/2017 before the market open of $1.01, beating estimates calling for $0.879 per share.

Pfizer (PFE) reported earnings on 8/1/2017 before the market open of $0.67, beating estimates calling for $0.659 per share.

Apple (AAPL) reported earnings on 8/1/2017 after the market close of $1.67, beating estimates of $1.607 per share.

Disney (DIS) reports earnings on 8/8/2017 after the market close.

Today’s Featured Dow Stock

Nike (NKE)

Nike (NKE) is up +17.73% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +0.4%, purchase sub-index -2.2%, refi sub-index +3.4%.

0815 ET Jul ADP employment change expected +190,000, Jun +158,000.

0830 ET Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion) and 30-year T-bonds (previous $12 billion) to be auctioned Aug 8-10 in the Treasurys quarterly refunding.

1030 ET EIA Weekly Petroleum Status Report.

1200 ET Cleveland Fed President Lorretta Mester (non-voter) is keynote speaker at the Community Bankers Association of Ohio annual convention.

1530 ET San Francisco Fed President John Williams (non-voter) speaks at an event in Las Vegas on Monetary Policys Role in Fostering Sustainable Growth.

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