DJIA Market Happenings For Wednesday, March 18, 2020

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include Boeing (BA), Chevron (CVX), Goldman Sachs (GS), Home Depot (HD), McDonald’s (MCD), Nike (NKE), Travelers (TRV) and United Technologies (UTX).

The Market

Premarket today, the Dow was indicated to open down -833 points.

Tuesday the Dow was up +1048.86 (+5.20%) at 21,237.38.

Year-to-date the Dow is down -25.58%.

There were 27 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Dow (DOW) +20.91%, Travelers (TRV) +13.29%, Intel (INTC) +2.26%, Walmart (WMT) +11.71% and Walgreens (WBA) +10.03%.

The Dow stock losers Tuesday were Boeing (BA) -4.22%, Disney (DIS) -1.56% and McDonald’s (MCD) -0.93%.

The two-day Fed FOMC meeting ends today with announcement at 11:00 am PDT.

The US administration and European governments are promising trillions of dollars in support for their economies as they try to prevent the virus from putting millions of people out of work and bankrupting industry.

US Treasury Secretary Steven Mnuchin is pushing for a $1 trillion economic stimulus designed to prevent the unemployment rate from soaring to 20%. Germany, France, Spain and the United Kingdom have also pledged more than $1.5 trillion combined in business loans and other support.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is down 2 cents at $2.217 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 3/24/2020 after the market close.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) is down -20.43% year-to-date.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:30 AM ET Housing Starts

10:30 AM ET EIA Petroleum Status Report

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