DJIA Market Happenings For Thursday, April 9, 2020

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +360 points.

Wednesday the Dow was up +779.71 (+3.44%) at 23,433.57.

Year-to-date the Dow is down -17.89%.

There were 27 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) +7.98%, Dow (DOW) +7.61% and Goldman Sachs (GS) +6.5%.

The Dow stock losers Wednesday were Disney (DIS) -0.17% and Walmart (WMT) -0.12%. United Technologies (UTX) 0.00% was unchanged.

Unemployment insurance weekly claims in the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week’s revised average. The previous week’s average was revised up by 54,750 from 2,612,000 to 2,666,750. The advance seasonally adjusted insured unemployment rate was 5.1 percent for the week ending March 28, an increase of 3.0 percentage points from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 28 was 7,455,000, an increase of 4,396,000 from the previous week’s revised level. This marks the highest level of seasonally adjusted insured unemployment in the history of the seasonally adjusted series. The previous high was 6,635,000 in May of 2009. The previous week’s level was revised up 30,000 from 3,029,000 to 3,059,000. The 4-week moving average was 3,500,000, an increase of 1,439,000 from the previous week’s revised average. The previous week’s average was revised up by 7,500 from 2,053,500 to 2,061,000.

The Federal Reserve unveiled details of programs to help support the economy. The Fed said the programs would total up to $2.3 trillion and include the Payroll Protection Program and other measures aimed at getting money to small businesses and bolstering municipal finances with a $500 billion lending program.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down 1.3 cents at $1.895 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/24/2020 after the market close of $0.53, missing estimates calling for $0.618 per share.

Walgreens (WBA) reported earnings on 4/2/2020 before the market open of $1.52, beating estimates calling for $1.479 per share.

Johnson & Johnson (JNJ) reports earnings on 4/14/20 before the market open.

JPMorgan (JPM) reports earnings on 4/14/20 before the market open.

Goldman Sachs (GS) reports earnings on 4/15/20 before the market open.

UnitedHealth (UNH) reports earnings on 4/15/20 before the market open.

IBM (IBM) reports earnings on 4/20/2020 after the market close.

Coca Cola (KO) reports earnings on 4/21/20 before the market open.

Procter & Gamble (PG) reports earnings on 4/21/20 before the market open.

Travelers (TRV) reports earnings on 4/21/20 before the market open.

Boeing (BA) reports earnings on 4/22/20 before the market open.

Visa (V) reports earnings on 4/22/2020 after the market close.

Today’s Featured Dow Stock

Walgreens (WBA)

Walgreens (WBA) is down -26.92% year-to-date.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET PPI-FD

10:00 AM ET Consumer Sentiment

10:00 AM ET Jerome Powell Speaks

10:00 AM ET Wholesale Trade

10:30 AM ET EIA Natural Gas Report

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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