Stock Indices: Dow Jones edges lower at Monday’s close, Apple, P&G expected to report on earnings today

On Monday Dow Jones Industrial Average traded within the range of 17,855.79-17,979.57. The benchmark closed at 17,977.24, shedding 0.15% (26.51 points) on a daily basis. It has been the 24th drop in the past 59 trading days. The daily low has been the lowest level since April 18th, when a low of 17,848.22 was registered. In weekly terms, the Dow advanced 0.59% last week to mark its 10th gain out of 16 weeks and also a second consecutive one. The blue-chip gauge has trimmed its advance to 1.65% so far in April.

Today Apple (APPL) may report that its Q1 earnings per share amounted to $2.00 and its revenue – $52 billion, according to market consensus. At the same time, Procter & Gamble Company (PG) is projected to report earnings of $0.82 a share in Q1 and $16.16 billion in revenue.

Among the companies included in the benchmark, 19 registered a decline and 11 recorded gains on Monday. The shares of Caterpillar Inc (CAT) recorded the worst performance within the Dow on April 25th, going down 1.95% to close at $76.79. It has been the 9th drop in the past 21 trading days, a fourth consecutive one and also the sharpest one since March 23rd, when the stock went down 2.48%. April 25th low of $76.20 has been the lowest level since April 12th, when a low of $74.47 was registered. Caterpillar has risen 0.33% so far during the current month, following two consecutive months of advance. Last Friday the company said it projects weaker 2016 profits, because of low expectations regarding its construction and oil and gas divisions.

Visa Inc (V) was the second worst performer within the DJIA on April 25th, falling 1.23% to close at $78.14 per share. It has been the 10th drop in the past 21 trading days and also a third consecutive one. Visa shares have added 2.17% to their value so far in April, following a 5.65% advance in March.

At the same time, the shares of McDonald’s Corporation (MCD) recorded the most notable daily increase within the DJIA on April 25th, going up 1.56%, to close at $127.46, while marking their 12th gain in the past 21 trading days and also the sharpest one since January 21st, when the stock rose 1.78%. McDonalds has added 1.42% to its market value so far during the current month, following a 7.24% surge in March. The fast-food giant reported earnings of $1.24 per share during the first quarter, outstripping market expectations, and $5.90 billion in revenue.

Wal-Mart Stores Inc (WMT) was the second best performer within the Dow on Monday, rising 1.09%, to close at $69.47. It has been the 11th gain in the past 21 trading days, a second consecutive one and also the steepest one since April 18th, when the stock went up 1.16%. The retailers stock has advanced 1.43% so far in April, following a 3.20% surge in the prior month.

Daily and Weekly Pivot Levels

By employing the Camarilla calculation method, the Tuesday pivot levels for DJIA are presented as follows:

R1 – 17,988.87
R2 – 18,000.21
R3 (range resistance) – 18,011.56
R4 (range breakout) – 18,045.60

S1 – 17,966.17
S2 – 17,954.83
S3 (range support) – 17,943.48
S4 (range breakout) – 17,909.44

By using the traditional method of calculation, the weekly pivot levels for DJIA are presented as follows:

Central Pivot Point – 18,006.53
R1 – 18,164.85
R2 – 18,325.94
R3 – 18,484.26

S1 – 17,845.44
S2 – 17,687.12
S3 – 17,526.03