The Dow Market Happenings For Wednesday, January 20, 2021

Dow stocks hitting 52 week highs include Johnson & Johnson (JNJ) and Travelers (TRV). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +109 points.

Tuesday the Dow was up +116.26 (+0.38%) at 30,930.52.

Year-to-date the Dow is up +1.06%.

There were 18 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by American Express (AXP) 126.75 (+3.77%), Boeing (BA) 210.71 (+3.13%) and Chevron (CVX) 94.51 (+2.63%).

The Dow stock losers Tuesday were led by Goldman Sachs (GS) 294.20 (-2.26%), Walgreens (WBA) 48.15 (-1.57%) and Nike (NKE) 139.27 (-1.03%).

Biden takes the oath of office at noon ET, taking the helm of a deeply divided nation and inheriting a confluence of crises. Biden’s inauguration unfolds devoid of crowds due to the pandemic and heightened security at the Capitol, where supporters of outgoing President Donald Trump laid siege to the seat of the U.S. legislative branch of government exactly two weeks earlier. Following the ceremony, Biden plans to sign more than a dozen executive orders to address a litany of challenges. The first will require Covid masks and physical distancing in all federal buildings, on all federal lands and by federal employees and contractors. Many of Biden’s orders will reverse those issued by Trump, including the so-called Muslim travel ban and the construction of a southern border wall.

Shortly after Biden’s inauguration, Democrats Raphael Warnock and Jon Ossoff will be sworn in as U.S. senators from Georgia, giving their party control of the upper chamber of Congress in a 50-50 split with soon-to-be Vice President Kamala Harris as the tie-breaking vote. One day before stepping aside as Senate majority leader, Republican Mitch McConnell on Tuesday explicitly blamed Trump for the Capitol attack, saying the mob was “fed lies” and the outgoing president and others “provoked” those intent on overturning Biden’s election. Trump’s impeachment trial in the Senate for inciting insurrection will unfold after he leaves office.

Trump issued 73 pardons on his last night in the White House, including one for his 2016 campaign chief and former White House senior advisor, Steve Bannon, who was accused of defrauding donors. Trump also pardoned Anthony Levandowski, the former Google engineer sentenced to prison for stealing trade secrets relating to driverless cars from the search giant. Breaking tradition, Trump won’t be attending Biden’s inauguration. He departed Washington in the morning enroute to Florida. Before boarding Air Force One for the last time, he touted what he sees as his accomplishments. But he also referred to the pandemic in the past tense, calling it “the China virus,” as he’s been known to do. Trump on Tuesday night released a farewell address video, touting his record on the economy and foreign policy, while glossing over the Capitol riot and refusing to mention Biden by name.

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

The national average price of gasoline is up four-tenths of a cent at $2.393 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 1/7/2021 before the market open of $1.22, beating estimates calling for $1.02 per share.

JPMorgan (JPM) reported earnings on 1/15/2021 before the market open of $3.79, beating estimates of $2.72 per share.

Goldman Sachs (GS) reports earnings on 1/19/2021 before the market open.

Procter & Gamble (PG) reports earnings on 1/20/2021 before the market open.

UnitedHealth (UNH) reports earnings on 1/20/2021 before the market open.

Coca Cola (KO) reports earnings on 1/21/2021 before the market open.

Travelers (TRV) reports earnings on 1/21/2021 before the market open.

Intel (INTC) reports earnings on 1/21/2021 after the market close.

IBM (IBM) reports earnings on 1/21/2021 after the market close.

3M (MMM) reports earnings on 1/26/2021 before the market open.

American Express (AXP) reports earnings on 1/26/2021 before the market open.

Johnson & Johnson (JNJ) reports earnings on 1/26/2021 before the market open.

Verizon (VZ) reports earnings on 1/26/2021 before the market open.

Microsoft (MSFT) reports earnings on 1/26/2021 after the market close.

Boeing (BA) reports earnings on 1/27/2021 before the market open.

Apple (AAPL) reports earnings on 1/27/2021 after the market close.

McDonald’s (MCD) reports earnings on 1/28/2021 before the market open.

Visa (V) reports earnings on 1/28/2021 after the market close.

Caterpillar (CAT) reports earnings on 1/29/2021 before the market open.

Chevron (CVX) reports earnings on 1/29/2021 before the market open.

Honeywell (HON) reports earnings on 1/29/2021 before the market open.

Today’s Featured Dow Stock

Merck (MRK)

Merck (MRK) 83.19 (-0.23%) is up +1.70% in 2021.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:55 AM ET Redbook

10:00 AM ET Housing Market Index

1:00 PM ET 20-Yr Bond Auction

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