The Dow Market Happenings For Friday, October 29, 2021 – Caterpillar (CAT) +12.13% YTD

Dow stocks hitting 52 week highs include Merck (MRK). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -92 points.

Thursday the Dow closed up +233.79 (+0.68%) at 35,730.48.

Year-to-date the Dow is up +16.74%.

There were 25 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Merck (MRK) 86.55 (+6.14%), Caterpillar (CAT) 204.09 (+4.06%) and Apple (AAPL) 152.57 (+2.50%).

The Dow stock losers Thursday were led by Visa (V) 209.84 (-2.75%), American Express (AXP) 174.61 (-1.92%) and Johnson & Johnson (JNJ) 162.85 (-0.54%).

Apple (AAPL) sinks in the premarket on disappointing quarterly results. Microsoft (MSFT) could take the most valuable company crown from Apple if premarket trading holds into the regular session.

The September core personal consumption expenditures price index, which excludes food and energy costs, rose 3.6% from last year, slightly lower than estimates but matching the August increase that was the biggest in more than 30 years.

Apple (AAPL) shares slid about 3.5% in premarket trading after the tech giant late Thursday matched forecasts with adjusted earnings of $1.24 per share in its fiscal fourth quarter but missed on revenue of $83.36 billion. Apple said supply chain issues impacted production of iPhones and its other products. The company hasn’t provided official guidance since the start of the Covid pandemic, but CEO Tim Cook said Apple expects “solid year-over-year revenue growth” in the December quarter.

Chevron (CVX) gained nearly 2% in the premarket after the company on Friday reported its the highest free cash flow on record during the third quarter as surging commodities prices and lower operational costs boosted operations. The oil giant beat top- and bottom-line estimates for the period, earning $2.96 per share on an adjusted basis. Revenue jumped more than 80% year over year to $44.71 billion.

Treasury Secretary Janet Yellen asserted Friday that the Biden administration’s infrastructure spending proposal will lower inflation by reducing costs vital to households. Yellen also told CNBC that the $1.75 trillion framework for President Joe Biden’s climate and social spending priorities is “fully paid for” in part by asking wealthy Americans to pay more taxes. The Treasury secretary is accompanying Biden on his overseas trip to the G-20 summit in Rome and the United Nations climate change conference in Glasgow, Scotland.

U.S. futures are lower, European stocks are lower and Asian markets ended mostly lower.

The national average price of gasoline is up two-tenths of a cent at $3.401 per gallon.

Earnings Reports

JPMorgan (JPM) reported earnings on 10/13/2021 before the open with $3.74, beating estimates calling for $2.996 per share.

UnitedHealth (UNH) reported earnings on 10/14/2021 before the open with $4.52, beating estimates calling for $4.414 per share.

Walgreens (WBA) reported earnings on 10/14/2021 before the open with $1.17, beating estimates calling for $1.028 per share.

Goldman Sachs (GS) reported earnings on 10/15/2021 before the open with $14.93, crushing estimates calling for $10.18 per share.

Johnson & Johnson (JNJ) reported earnings on 10/19/2021 before the open with $2.60, beating estimates of $2.367 per share.

Procter & Gamble (PG) reported earnings on 10/19/2021 before the open with $1.61, beating estimates of $1.594 per share.

Travelers (TRV) reported earnings on 10/19/2021 before the open with $2.60, beating estimates of $2.002 per share.

Verizon (VZ) reported earnings on 10/20/2021 before the open with $1.55, beating estimates of $1.358 per share.

IBM (IBM) reported earnings on 10/20/2021 after the close with $2.52, beating estimates of $2.487 per share.

Dow (DOW) reported earnings on 10/21/2021 before the open with $2.75, beating estimates of $2.596 per share.

Intel (INTC) reported earnings on 10/21/2021 after the close with $1.71, beating estimates of $1.107 per share.

Honeywell (HON) reported earnings on 10/22/2021 before the open with $2.02, beating estimates of $2.008 per share.

American Express (AXP) reported earnings on 10/22/2021 before the open with $2.27, beating estimates of $1.78 per share.

3M (MMM) reported earnings on 10/26/2021 before the open with $2.45, beating estimates of $2.182 per share.

Microsoft (MSFT) reported earnings on 10/26/2021 after the close with $2.27, beating estimates of $2.058 per share.

Visa (V) reported earnings on 10/26/2021 after the close with $1.62, beating estimates of $1.528 per share.

Coca Cola (KO) reported earnings on 10/27/2021 before the open with $0.65, beating estimates of $0.576 per share.

McDonald’s (MCD) reported earnings on 10/27/2021 before the open with $2.76, beating estimates of $2.456 per share.

Boeing (BA) reported earnings on 10/27/2021 before the open with -$0.60, missing estimates of -$0.168 per share.

Caterpillar (CAT) reported earnings on 10/28/2021 before the open with $2.66, beating estimates of $2.257 per share.

Merck (MRK) reported earnings on 10/28/2021 before the open with $1.75, beating estimates of $1.542 per share.

Apple (AAPL) reported earnings on 10/28/2021 after the close with $1.24, almost meeting estimates of $1.244 per share.

Chevron (CVX) reported earnings on 10/29/2021 before the open with $2.96, beating estimates of $2.214 per share.

Amgen (AMGN) reports earnings on 11/2/2021 after the close.

Disney (DIS) reports earnings on 11/10/2021 after the close.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 204.09 (+4.06%) is up +12.13% in 2021.

Financial Calendar

8:30 AM ET Employment Cost Index

8:30 AM ET Personal Income and Outlays

9:45 AM ET Chicago PMI

10:00 AM ET Consumer Sentiment

1:00 PM ET Baker Hughes Rig Count

3:00 PM ET Farm Prices

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