DJIA Market Happenings For Thursday, April 16, 2020

Dow stocks at 52 week highs include Walmart (WMT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +93 points.

Wednesday the Dow was down -445.41 (-1.86%) at 23,504.35.

Year-to-date the Dow is down -17.64%.

There were 5 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) +4.13%, Boeing (BA) +3.53% and Johnson & Johnson (JNJ) +1.12%.

The Dow stock losers Wednesday were Dow (DOW) -8.88%, Walgreens (WBA) -6.34% and Travelers (TRV) -5.42%.

Unemployment insurance weekly claims in the week ending April 11, the advance figure for seasonally adjusted initial claims was 5,245,000, a decrease of 1,370,000 from the previous week’s revised level. The previous week’s level was revised up by 9,000 from 6,606,000 to 6,615,000. The 4-week moving average was 5,508,500, an increase of 1,240,750 from the previous week’s revised average. The previous week’s average was revised up by 2,250 from 4,265,500 to 4,267,750. The advance seasonally adjusted insured unemployment rate was 8.2 percent for the week ending April 4, an increase of 3.1 percentage points from the previous week’s unrevised rate. This marks the highest level of the seasonally adjusted insured unemployment rate in the history of the seasonally adjusted series. The previous high was 7.0 percent in May of 1975. The advance number for seasonally adjusted insured unemployment during the week ending April 4 was 11,976,000, an increase of 4,530,000 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 week’s level was revised down by 9,000 from 7,455,000 to 7,446,000. The 4-week moving average was 6,066,250, an increase of 2,568,500 from the previous week’s revised average. The previous week’s average was revised down by 2,250 from 3,500,000 to 3,497,750.

That makes for over 22 million new unemployment claims in the last 4 weeks.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is down nine-tenths of a cent at $1.834 per gallon. I paid $1.999 per gallon today at Costco in Gig Harbor, WA.

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) reported earnings on 4/14/20 before the market open of $2.30, beating estimates calling for $2.064 per share.

JPMorgan (JPM) reported earnings on 4/14/20 before the market open of $0.78, missing estimates calling for $2.191 per share.

Goldman Sachs (GS) reported earnings on 4/15/20 before the market open of $3.11, missing estimates calling for $3.50 per share.

UnitedHealth (UNH) reported earnings on 4/15/20 before the market open of $3.72, beating estimates calling for $3.714 per share.

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.

Intel (INTC) reports earnings on 4/23/2020 after the market close.

American Express (AXP) reports earnings on 4/24/20 before the market open.

Verizon (VZ) reports earnings on 4/24/20 before the market open.

3M (MMM) reports earnings on 4/28/20 before the market open.

Caterpillar (CAT) reports earnings on 4/28/20 before the market open.

Merck (MRK) reports earnings on 4/28/20 before the market open.

Pfizer (PFE) reports earnings on 4/28/20 before the market open.

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) is down -55.19% year-to-date.

Financial Calendar

8:30 AM ET Housing Starts

8:30 AM ET Jobless Claims

8:30 AM ET Philadelphia Fed Business Outlook Survey

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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