The Dow Market Happenings For Friday, September 29, 2017

Dow stocks at 52 week highs include American Express (AXP), Home Depot (HD) and JPMorgan (JPM). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -21 points.

Thursday the Dow was up +40.49 (+0.18%) at 22,381.20.

Year-to-date the Dow is up +13.25%.

There were 17 Dow stocks up Thursday.

The Dow stock winners Thursday were led by McDonald’s (MCD) +2.23% and Exxon Mobil (XOM) +0.93%.

The Dow stock losers Thursday were led by Disney (DIS) -1.20% and United Technologies (UTX) -1.14%.

Consumer spending rose just 0.1% in August after a 0.3% gain in the prior month. That matched the forecast. If adjusted for inflation, however, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. Consumer spending slowed in August largely because of fewer sales of new cars and trucks. Auto sales dropped 1.8% last month. Hurricane Harvey may have also been a drag on the economy.

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

The national average price of gasoline is down five-tenths of a cent at $2.568 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/26/17 after the market close of $0.57, beating estimates calling for $0.515 per share.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) is up +16.28% year-to-date.

Financial Calendar

0830 ET Aug personal spending expected +0.1%, Jul +0.3%. Aug personal income expected +0.2%, Jul +0.4%.

0830 ET Aug PCE deflator expected +0.3% m/m and +1.5% y/y, Jul +0.1% m/m and +1.4% y/y. Aug core PCE deflator expected +0.2% and +1.4% y/y, Jul +0.1% m/m and +1.4% y/y.

0945 ET Sep Chicago PMI expected -0.2 to 58.7, Aug unch at 58.9.

1000 ET Final-Sep University of Michigan U.S. consumer sentiment index expected unch at 95.3, prelim-Sep -1.5 to 95.3.

1100 ET Philadelphia Fed President Patrick Harker (voter) speaks at an event titled: The Impact on Consumers, Banking, and Regulatory Policy. Text: No Q&A.

1200 ET USDA Q3 Quarterly Grain Stocks.

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