Dow stocks at 52 week highs include Cisco (CSCO) and Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +36 points.

Wednesday the Dow was down -106.93 (-0.40%) at 26,385.28.

Year-to-date the Dow is up +6.74%.

There were 8 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by IBM (IBM) +1.81% and Disney (DIS) +1.39%.

The Dow stock losers Wednesday were led by American Express (AXP) -1.69% and Goldman Sachs (GS) -1.56%.

Visa (V -0.21%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $187.

Unemployment insurance weekly claims in the week ending September 22, the advance figure for seasonally adjusted initial claims was 214,000, an increase of 12,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 201,000 to 202,000. The 4-week moving average was 206,250, an increase of 250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 205,750 to 206,000. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending September 15, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 15 was 1,661,000, an increase of 16,000 from the previous week’s unrevised level of 1,645,000. The 4-week moving average was 1,679,250, a decrease of 12,250 from the previous week’s unrevised average of 1,691,500. This is the lowest level for this average since November 10, 1973 when it was 1,673,000.

European stocks are higher and Asian markets ended lower.

The national average price of gasoline is up six-tenths of a cent at $2.873 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 9/25/2018 after the market close of $0.67, just beating estimates calling for $0.657 per share.

Today’s Featured Dow Stock

Intel (INTC)

Intel (INTC) is down -1.00% year-to-date.

Financial Calendar

12:30 Cap Goods Ship Non Defense Ex Air (MoM), 1.0%

12:30 Continuing Jobless Claims, 1,684K, 1,645K

12:30 Core Durable Goods Orders (MoM) (Aug), 0.4%, 0.1%

12:30 Core PCE Prices (Q2), 2.00%, 2.00%

12:30 Corporate Profits (QoQ) (Q2), 2.4%, 2.4%

12:30 Durable Goods Orders (MoM) (Aug), 1.9%, -1.7%

12:30 Durables Excluding Defense (MoM) (Aug), 0.8%, -1.0%

12:30 GDP (QoQ) (Q2), 4.2%, 4.2%

12:30 GDP Price Index (QoQ) (Q2), 3.0%, 3.2%

12:30 GDP Sales (Q2), 5.3%, 5.3%

12:30 Goods Orders Non Defense Ex Air (MoM) (Aug), 0.4%, 1.6%

12:30 Goods Trade Balance (Aug), -70.60B, -72.05B

12:30 Initial Jobless Claims, 208K, 201K

12:30 Jobless Claims 4-Week Avg., 205.75K

12:30 PCE Prices (Q2), 1.9%, 1.9%

12:30 Real Consumer Spending (Q2), 3.8%

12:30 Wholesale Inventories (MoM), 0.3%, 0.6%

Tentative Bloomberg Consumer Confidence, 59.0

14:00 Pending Home Sales (MoM) (Aug), -0.2%, -0.7%

14:00 Pending Home Sales Index (Aug), 106.2

14:30 Natural Gas Storage, 63B, 86B

15:00 KC Fed Composite Index (Sep), 14

15:00 KC Fed Manufacturing Index (Sep), 10

16:30 FOMC Member Kaplan Speaks

17:00 7-Year Note Auction, 2.844%

20:30 Fed Chair Powell Speaks