DJIA Market Happenings For Wednesday, December 23, 2020

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

The Market

Premarket today, the Dow was indicated to open up +73 points.

Tuesday the Dow was down -200.94 (-0.67%) at 30,015.51.

Year-to-date the Dow is up +5.18%.

There were 6 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Apple (AAPL) 131.88 (+2.85%), Salesforce (CRM) 231.17 (+2.08%) and Microsoft (MSFT) 223.94 (+0.61%).

The Dow stock losers Tuesday were led by Walgreens (WBA) 39.27 (-3.44%), Amgen (AMGN) 220.99 (-2.78%) and Goldman Sachs (GS) 250.09 (-2.68%).

Unemployment insurance weekly claims in the week ending December 19, the advance figure for seasonally adjusted initial claims was 803,000, a decrease of 89,000 from the previous week’s revised level. The previous week’s level was revised up by 7,000 from 885,000 to 892,000. The 4-week moving average was 818,250, an increase of 4,000 from the previous week’s revised average. The previous week’s average was revised up by 1,750 from 812,500 to 814,250. The advance seasonally adjusted insured unemployment rate was 3.6 percent for the week ending December 12, a decrease of 0.2 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 12 was 5,337,000, a decrease of 170,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 5,508,000 to 5,507,000. The 4-week moving average was 5,538,000, a decrease of 188,000 from the previous week’s revised average. The previous week’s average was revised down by 250 from 5,726,250 to 5,726,000. The total number of continued weeks claimed for benefits in all programs for the week ending December 5 was 20,363,675, a decrease of 283,170 from the previous week. There were 1,757,802 weekly claims filed for benefits in all programs in the comparable week in 2019.

President Donald Trump railed against the $900 billion Covid relief bill passed by Congress, calling it an unsuitable “disgrace” in a tweet Tuesday evening. He urged lawmakers to make a number of changes to the measure, especially the amount allocated for direct payments to Americans. House Speaker Nancy Pelosi said she agreed with Trump’s call for $2,000 payments to Americans. “Democrats are ready to bring this to the Floor this week by unanimous consent. Let’s do it!” she tweeted.

Pfizer and BioNTech on Wednesday announced a second deal with the U.S. government to supply an additional 100 million doses of their jointly-developed Covid-19 vaccine. The deal brings the total number of doses to 200 million, which will be delivered to the U.S. by the end of July. The government is paying $1.95 billion for the additional doses.

Trump issued pardons to 15 people on Tuesday, including two men convicted as part of special counsel Robert Mueller’s investigation, and four former Blackwater USA guards who were convicted in the killings of 14 unarmed Iraqi civilians in Baghdad in 2007. Others who received pardons included two former Republican congressmen who admitted committing financial-related crimes. Trump also commuted all or some of the criminal sentences of five other people, as the president faces his last month in office.

European stocks are higher and Asian markets ended higher.

The national average price of gasoline is up a penny at $2.247 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) 218.78 (-0.24%) is down -32.84% year-to-date. Boeing (BA) YTD low was 89.00 on 3/18/2020. Boeing has provided a +145.82% gain off the YTD low.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:30 AM ET Durable Goods Orders

8:30 AM ET Jobless Claims

8:30 AM ET Personal Income and Outlays

9:00 AM ET FHFA House Price Index

10:00 AM ET New Home Sales

10:00 AM ET Consumer Sentiment

10:30 AM ET EIA Petroleum Status Report

11:30 AM ET 2-Yr FRN Note Auction

12:00 PM ET EIA Natural Gas Report

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