The Dow Market Happenings For Thursday, December 10, 2020

Dow stocks hitting 52 week highs include Disney (DIS), Honeywell (HON) and Nike (NKE). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -131 points.

Wednesday the Dow was down -105.07 (-0.35%) at 30,068.81.

Year-to-date the Dow is up +5.73%.

There were 16 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Goldman Sachs (GS) 242.82 (+1.67%), 3M (MMM) 175.29 (+1.64%) and Home Depot (HD) 265.58 (+1.47%).

The Dow stock losers Wednesday were led by Salesforce (CRM) 220.57 (-3.20%), Apple (AAPL) 121.78 (-2.09%) and Microsoft (MSFT) 211.80 (-1.95%).

Unemployment insurance weekly claims in the week ending December 5, the advance figure for seasonally adjusted initial claims was 853,000, an increase of 137,000 from the previous week’s revised level. The previous week’s level was revised up by 4,000 from 712,000 to 716,000. The 4-week moving average was 776,000, an increase of 35,500 from the previous week’s revised average. The previous week’s average was revised up by 1,000 from 739,500 to 740,500. The advance seasonally adjusted insured unemployment rate was 3.9 percent for the week ending November 28, an increase of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 28 was 5,757,000, an increase of 230,000 from the previous week’s revised level. The previous week’s level was revised up 7,000 from 5,520,000 to 5,527,000. The 4-week moving average was 5,935,750, a decrease of 260,250 from the previous week’s revised average. The previous week’s average was revised up by 1,750 from 6,194,250 to 6,196,000. The total number of continued weeks claimed for benefits in all programs for the week ending November 21 was 19,043,429, a decrease of 1,120,049 from the previous week. There were 1,535,274 weekly claims filed for benefits in all programs in the comparable week in 2019.

A one-week federal government funding extension that passed the House on Wednesday goes to the Senate, where it could come up for a vote as soon as Thursday. The government will shut down Saturday if Capitol Hill fails to pass the stopgap measure. Lawmakers are trying to buy more time to reach a broad spending deal and a coronavirus relief package. Senate Majority Leader Mitch McConnell, R-Ky., and House Speaker Nancy Pelosi, D-Calif., have said they want to attach pandemic aid to the full-year funding bill.

European stocks are mostly lower and Asian markets ended mostly lower.

The national average price of gasoline is unchanged at $2.158 per gallon.

Earnings Reports

Nike (NKE) will report earnings on 12/18/2020 after the market close. Nike closed at 138.75 (+1.14%) on Monday 12/7/2020. It was a 52 week high.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 134.91 (+0.27%) is down -1.49% year-to-date. Travelers (TRV) YTD low was 76.99 on 3/18/2020. Travelers has provided a +75.23% gain off the YTD low.

Financial Calendar

8:30 AM ET CPI

8:30 AM ET Jobless Claims

10:00 AM ET Quarterly Services Survey

10:30 AM ET EIA Natural Gas Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 30-Yr Bond Auction

2:00 PM ET Treasury Statement

4:30 PM ET Fed Balance Sheet

4:30 PM ET Money Supply

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