DJIA Market Happenings For Thursday, April 29, 2021

Dow stocks hitting 52 week highs include American Express (AXP) and Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +163 points.

Wednesday the Dow was down -164.55 (-0.48%) at 33,820.38.

Year-to-date the Dow is up +10.50%.

There were 14 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Chevron (CVX) 102.70 (+2.45%), Visa (V) 233.45 (+1.54%) and American Express (AXP) 152.54 (+1.45%).

The Dow stock losers Wednesday were led by Amgen (AMGN) 236.71 (-7.22%), Boeing (BA) 235.46 (-2.89%) and Microsoft (MSFT) 254.56 (-2.83%).

The government on Thursday reported the U.S. economy, as measured by GDP, advanced at a strong 6.4% annual rate in the first quarter, though slightly below estimates.

McDonald’s (MCD) earnings came in 11 cents ahead of consensus with adjusted quarterly profit of $1.92 per share. Revenue was also above forecasts, boosted by a better-than-expected 13.6% jump in U.S. same store sales. McDonald’s shares fell modestly in the premarket.

Merck (MRK) earnings missed by 23 cents with adjusted quarterly profit of $1.40 per share. Shares are down 1.8% premarket.

Caterpillar (CAT) earnings beat estimates by nearly a dollar with adjusted quarterly profit of $2.87 per share. Caterpillar shares are up 1.6% in premarket trading.

Unemployment insurance weekly claims in the week ending April 24, the advance figure for seasonally adjusted initial claims was 553,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised up by 19,000 from 547,000 to 566,000. The 4-week moving average was 611,750, a decrease of 44,000 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 4,750 from 651,000 to 655,750. The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 17, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 17 was 3,660,000, an increase of 9,000 from the previous week’s revised level. The previous week’s level was revised down by 23,000 from 3,674,000 to 3,651,000. The 4-week moving average was 3,684,000, a decrease of 23,250 from the previous week’s revised average. This is the lowest level for this average since March 28, 2020 when it was 3,611,750. The previous week’s average was revised down by 5,750 from 3,713,000 to 3,707,250. The total number of continued weeks claimed for benefits in all programs for the week ending April 10 was 16,559,276, a decrease of 845,874 from the previous week. There were 16,319,176 weekly claims filed for benefits in all programs in the comparable week in 2020.

President Biden on Wednesday night declared that “America is rising anew” and unveiled a $1.8 trillion proposal to invest in children, families and education. That’s in addition the already-announced massive spending proposal to update the nation’s infrastructure. Biden stressed that these efforts will create more jobs and boost prosperity for all Americans.

European stocks are mostly higher and Asian markets ended higher.

The national average price of gasoline is up four-tenths of a cent at $2.885 per gallon.

Earnings Reports

Goldman Sachs (GS) reported earnings on 4/14/2021 before the market open of $18.60, beating estimates of $9.79 per share.

JPMorgan (JPM) reported earnings on 4/14/2021 before the market open of $4.50, beating estimates of $3.046 per share.

UnitedHealth (UNH) reported earnings on 4/15/2021 before the market open of $5.31, beating estimates of $4.423 per share.

Coca Cola (KO) reported earnings on 4/19/2021 before the market open of $0.55, beating estimates of $0.497 per share.

IBM (IBM) reported earnings on 4/19/2021 after the market close of $1.77, beating estimates of $1.668 per share.

Johnson & Johnson (JNJ) reported earnings on 4/20/2021 before the market open of $2.69, beating estimates of $2.31 per share.

Procter & Gamble (PG) reported earnings on 4/20/2021 before the market open of $1.26, beating estimates of $1.184 per share.

Travelers (TRV) reported earnings on 4/20/2021 before the market open of $2.73, beating estimates of $2.443 per share.

Verizon (VZ) reported earnings on 4/21/2021 before the market open of $1.31, beating estimates of $1.287 per share.

Dow (DOW) reported earnings on 4/22/2021 before the market open of $1.36, beating estimates of $1.103 per share.

Intel (INTC) reported earnings on 4/22/2021 after the market close of $1.39, beating estimates of $1.151 per share.

American Express (AXP) reported earnings on 4/23/2021 before the market open of $2.74, beating estimates of $1.678 per share.

Honeywell (HON) reported earnings on 4/23/2021 before the market open $2.03, beating estimates of $1.803 per share.

3M (MMM) reported earnings on 4/27/2021 before the market open of $2.77, beating estimates of $2.252 per share.

Amgen (AMGN) reported earnings on 4/27/2021 after the market close $3.70, missing estimates of $4.003 per share.

Microsoft (MSFT) reported earnings on 4/27/2021 after the market close $1.95, beating estimates of $1.756 per share.

Visa (V) reported earnings on 4/27/2021 after the market close of $1.38, beating estimates of $1.264 per share.

Boeing (BA) reported earnings on 4/28/2021 before the market open of -$1.53, missing estimates calling for -$1.167 per share.

Apple (AAPL) reported earnings on 4/28/2021 after the market close of $1.40, beating estimates of $0.998 per share.

Caterpillar (CAT) reported earnings on 4/29/2021 before the market open of $2.87, beating estimates of $1.926 per share.

McDonald’s (MCD) reported earnings on 4/29/2021 before the market open of $2.05, beating estimates of $1.811 per share.

Merck (MRK) reported earnings on 4/29/2021 before the market open of $1.40, missinging estimates of $1.628 per share.

Chevron (CVX) reports earnings on 4/30/2021 before the market open.

Today’s Featured Dow Stock

Walmart (WMT)

Walmart (WMT) 137.89 (-0.35%) is down -4.37% in 2021.

Financial Calendar

8:30 AM ET GDP

8:30 AM ET Jobless Claims

10:00 AM ET Pending Home Sales 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

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

4:30 PM ET Fed Balance Sheet

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