The Dow Market Happenings For Thursday, April 23, 2020

Dow stocks at 52 week highs include Johnson & Johnson (JNJ). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +54 points.

Wednesday the Dow was up +456.94 (+1.99%) at 23,475.82.

Year-to-date the Dow is down -17.74%.

There were 27 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Intel (INTC) +6.64%, McDonald’s (MCD) +5.01%, Nike (NKE) +4.19%, Visa (V) +3.77% and Chevron (CVX) +3.43%.

The Dow stock losers Wednesday were Boeing (BA) -1.00% and Procter & Gamble (PG) -0.23%. United Technologies (UTX) was unchanged.

Unemployment insurance weekly claims in the week ending April 18, the advance figure for seasonally adjusted initial claims was 4,427,000, a decrease of 810,000 from the previous week’s revised level. The previous week’s level was revised down by 8,000 from 5,245,000 to 5,237,000. The 4-week moving average was 5,786,500, an increase of 280,000 from the previous week’s revised average. The previous week’s average was revised down by 2,000 from 5,508,500 to 5,506,500. The advance seasonally adjusted insured unemployment rate was 11.0 percent for the week ending April 11, an increase of 2.8 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 advance number for seasonally adjusted insured unemployment during the week ending April 11 was 15,976,000, an increase of 4,064,000 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 64,000 from 11,976,000 to 11,912,000. The 4-week moving average was 9,598,250, an increase of 3,548,000 from the previous week’s revised average. The previous week’s average was revised down by 16,000 from 6,066,250 to 6,050,250.

The spread of COVID-19 has shaken financial markets and prompted tens of millions of layoffs across the country. There are now almost 2.5 million confirmed cases of the disease worldwide and more than 169,100 people have died, according to the World Health Organization. In the United States and U.S. territories, the number of confirmed cases has exceeded 832,300, while the death toll has risen to more than 42,300.

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down eight-tenths of a cent at $1.792 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) 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.

Procter & Gamble (PG) reported earnings on 4/17/20 before the market open of $1.22, beating estimates calling for $1.106 per share

IBM (IBM) reported earnings on 4/20/2020 after the market close of $1.84, beating estimates calling for $1.698 per share.

Coca Cola (KO) reported earnings on 4/21/20 before the market open of $0.51, beating estimates calling for $0.436 per share.

Travelers (TRV) reported earnings on 4/21/20 before the market open of $2.62, missing estimates calling for $2.877 per share.

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.

Boeing (BA) reports earnings on 4/29/20 before the market open

Microsoft (MSFT) reports earnings on 4/29/2020 after the market close.

Dow (DOW) reports earnings on 4/30/20 before the market open.

McDonald’s (MCD) reports earnings on 4/30/20 before the market open.

Apple (AAPL) reports earnings on 4/30/2020 after the market close.

Visa (V) reports earnings on 4/30/2020 after the market close.

Chevron (CVX) reports earnings on 5/1/20 before the market open.

Exxon Mobil (XOM) reports earnings on 5/1/20 before the market open.

Disney (DIS) reports earnings on 5/5/2020 after the market close.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) is down -30.11% year-to-date. The Disney YTD low was 79.07 on 3/18/2020.

Financial Calendar

8:30 AM ET Jobless Claims

9:45 AM ET PMI Composite Flash

10:00 AM ET New Home Sales

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Kansas City Fed Manufacturing Index

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 2-Yr FRN Note Announcement

11:00 AM ET 2-Yr Note Announcement

11:00 AM ET 5-Yr Note Announcement

11:00 AM ET 7-Yr Note Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 5-Yr TIPS Auction

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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