Dow stocks hitting 52 week highs include Home Depot (HD) and Walmart (WMT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -182 points.

Wednesday the Dow was up +227.51 (+0.85%) at 26,870.10.

Year-to-date the Dow is down -5.85%.

There were 25 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Boeing (BA) 187.94 (+4.43%), Raytheon (RTX) 62.94 (+4.08%) and American Express (AXP) 97.36 (+2.66%).

The Dow stock losers Wednesday were led by UnitedHealth (UNH) 304.07 (-1.44%), Verizon (VZ) 55.06 (-0.69% and Procter & Gamble (PG) 124.50 (-0.47%).

Unemployment insurance weekly claims in the week ending July 11, the advance figure for seasonally adjusted initial claims was 1,300,000, a decrease of 10,000 from the previous week’s revised level. The previous week’s level was revised down by 4,000 from 1,314,000 to 1,310,000. The 4-week moving average was 1,375,000, a decrease of 60,000 from the previous week’s revised average. The previous week’s average was revised down by 2,250 from 1,437,250 to 1,435,000. The advance seasonally adjusted insured unemployment rate was 11.9 percent for the week ending July 4, a decrease of 0.3 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 12.4 to 12.2 percent. The advance number for seasonally adjusted insured unemployment during the week ending July 4 was 17,338,000, a decrease of 422,000 from the previous week’s revised level. The previous week’s level was revised down by 302,000 from 18,062,000 to 17,760,000. The 4-week moving average was 18,272,250, a decrease of 737,750 from the previous week’s revised average. The previous week’s average was revised down by 75,500 from 19,085,500 to 19,010,000.

Johnson & Johnson (JNJ) reported adjusted earnings of $1.67 a share on $18.34 billion in sales for its second quarter. In premarket trading, JNJ stock edged higher. On average, analysts called for Johnson & Johnson earnings of $1.496 per share on $17.57 billion in sales. In the year-earlier period, J&J earned $2.58 a share on $20.56 billion in sales. For the year, the company slightly raised guidance to adjusted EPS of $7.75 – $7.95 on revenue of $79.9 billion to $81.4 billion. Analysts called for Johnson & Johnson earnings of $7.73 per share and $80.29 billion in sales.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is up two-tenths of a cent at $2.201 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/25/2020 after the market close of -$0.51, missing estimates calling for $0.016 per share.

Walgreens (WBA) reported earnings on 7/9/2020 before the market open of $0.83, missing estimates calling for $1.103 per share.

JPMorgan (JPM) reported earnings on 7/14/2020 before the market open of $1.38, beating estimates calling for $1.336 per share.

Goldman Sachs (GS) reported earnings on 7/15/2020 before the market open of $6.26, beating estimates calling for $3.972 per share.

UnitedHealth (UNH) reported earnings on 7/15/2020 before the market open of $7.12, beating estimates calling for $5.158 per share.

Johnson & Johnson (JNJ) reported earnings on 7/16/2020 before the market open of $1.67, beating estimates calling for $1.496 per share.

Microsoft (MSFT) reports earnings on 7/16/2020 after the market close.

IBM (IBM) reports earnings on 7/20/2020 after the market close.

Coca Cola (KO) reports earnings on 7/21/2020 before the market open.

Dow (DOW) reports earnings on 7/23/2020 before the market open.

Travelers (TRV) reports earnings on 7/23/2020 before the market open.

Intel (INTC) reports earnings on 7/23/2020 after the market close.

American Express (AXP) reports earnings on 7/24/2020 before the market open.

Verizon (VZ) reports earnings on 7/24/2020 before the market open.

McDonald’s (MCD) reports earnings on 7/28/2020 before the market open.

3M (MMM) reports earnings on 7/28/2020 before the market open.

Pfizer (PFE) reports earnings on 7/28/2020 before the market open.

Raytheon Technologies (RTX) reports earnings on 7/28/2020 before the market open.

Visa (V) reports earnings on 7/28/2020 after the market close.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) is down -16.40% year-to-date. Disney (DIS) YTD low was 79.07 on 3/18/2020. That’s a +34.60% gain off the YTD low.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET Philadelphia Fed Business Outlook Survey

8:30 AM ET Retail Sales

10:00 AM ET Business Inventories

10:00 AM ET Housing Market Index

10:30 AM ET EIA Natural Gas Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 10-Yr TIPS Announcement

11:00 AM ET 20-Yr Bond Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

4:00 PM ET Treasury International Capital

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply