DJIA Market Happenings For Thursday, October 19, 2017

Dow stocks at 52 week highs include Intel (INTC), Johnson & Johnson (JNJ), JPMorgan (JPM), McDonald’s (MCD) and UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -87 points.

Wednesday the Dow was up +160.16 (+0.70%) at 23,157.60.

Year-to-date the Dow is up +17.18%.

There were 18 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by IBM (IBM) +8.86% and Goldman Sachs (GS) +2.52%.

The Dow stock losers Wednesday were led by Chevron (CVX) -1.72% and Pfizer (PFE) -1.02%.

Nike (NKE +0.58%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.

The Labor Department said Thursday that claims for jobless aid dropped by 22,000 to 222,000, fewest since March 1973. The less volatile four-week average slid by 9,500 to 248,250, lowest since late August. The overall number of Americans collecting unemployment checks dropped to 1.89 million, lowest since December 1973 and down nearly 9 percent from a year ago.

Verizon (VZ) reported adjusted EPS of 98 cents a share, excluding items, matching the consensus estimate. Revenue was $31.72 billion vs. $31.45 billion estimate. Net adds were 603,000 (486,000 smartphones) vs. increase of 438,000 retail postpaid connections expected.

European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is down four-tenths of a cent at $2.457 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.

JPMorgan (JPM) reported earnings on 10/12/2017 before the market open of $1.76, beating estimates calling for $1.709 per share.

Goldman Sachs (GS) reported earnings on 10/17/2017 before the market open of $5.02, beating estimates calling for $4.343 per share.

Johnson & Johnson (JNJ) reported earnings on 10/17/2017 before the market open of $1.90, beating estimates of $1.823 per share.

UnitedHealth (UNH) reported earnings on 10/17/2017 before the market open of $2.66, beating estimates calling for $2.607 per share.

IBM (IBM) reported earnings on 10/17/2017 after the market close of $3.30, missing estimates calling for $3.325 per share.

American Express (AXP) reported earnings on 10/18/2017 after the market close of $1.50, beating estimates of $1.487 per share.

Travelers (TRV) reported earnings on 10/19/2017 before the market open of $0.91, beating estimates calling for $0.724 per share.

Verizon (VZ) report earnings on 10/19/2017 before the market open of $0.98, matching estimates of $0.984 per share.

General Electric (GE) reports earnings on 10/20/2017 before the market open.

Procter & Gamble (PG) reports earnings on 10/20/2017 before the market open.

Caterpillar (CAT) reports earnings on 10/20/2017 before the market open.

3M (MMM) reports earnings on 10/24/2017 before the market open.

McDonald’s (MCD) reports earnings on 10/24/2017 before the market open.

United Technologies (UTX) reports earnings on 10/24/2017 before the market open.

Boeing (BA) reports earnings on 10/25/2017 before the market open.

Coca Cola (KO) reports earnings on 10/25/2017 before the market open.

Visa (V) reports earnings on 10/25/2017 before the market open.

Intel (INTC) reports earnings on 10/26/2017 after the market close.

Microsoft (MSFT) reports earnings on 10/26/2017 after the market close.

Chevron (CVX) reports earnings on 10/27/2017 before the market open.

Merck (MRK) reports earnings on 10/27/2017 before the market open.

Exxon Mobil (XOM) reports earnings on 10/27/2017 before the market open.

Today’s Featured Dow Stock

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) is up +21.53% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -3,000 to 240,000, previous -15,000 to 243,000. Weekly continuing claims expected +1,000 to 1.890 million, previous -32,000 to 1.889 million.

0830 ET Oct Philadelphia Fed business outlook survey expected -1.8 to 22.0, Sep +4.9 to 23.8.

0830 ET USDA weekly Export Sales.

1000 ET Sep leading indicators expected +0.1%, Aug +0.4%.

1100 ET Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Oct 24-26.

1300 ET Treasury auctions $5 billion of 30-year TIPS.

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