Dow stocks at 52 week highs include Apple (AAPL), American Express (AXP), Boeing (BA), Caterpillar (CAT), Cisco (CSCO), DowDupont (DWDP), Johnson & Johnson (JNJ), JPMorgan (JPM), 3M (MMM), Microsoft (MSFT), Nike (NKE), UnitedHealth (UNH), United Technologies (UTX) and Visa (V). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +96 points.

Tuesday the Dow was down -10.33 (-0.04%) at 25,792.86.

Year-to-date the Dow is up +4.34%.

There were 12 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Merck (MRK) +5.81% and UnitedHealth (UNH) +1.86%.

The Dow stock losers Tuesday were led by General Electric (GE) -2.93% and Nike (NKE) -1.93%.

Most of today’s new highs closed lower which makes this look like a blow-off top. The VIX also closed up +14.76% at 11.66.

International Business Machines (IBM +0.44%) was upgraded to ‘Overweight’ from ‘Underweight’ at Barclays with a price target of $192.

European stocks are lower and Asian markets ended mostly higher.

The national average price of gasoline is up four-tenths of a cent at $2.534 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 12/21/17 after the market close of $0.46, beating estimates of $0.437 per share.

JPMorgan (JPM) reported earnings on 1/12/2018 before the market open of $1.07, missing estimates calling for $1.726 per share.

UnitedHealth (UNH) reported earnings on 1/16/2018 before the market open of $2.59, beating estimates of $2.559 per share.

Goldman Sachs (GS) reported earnings on 1/17/2018 before the market open of -$5.51 (includes tax loss), missing estimates calling for $5.064 per share.

American Express (AXP) reports earnings on 1/18/2017 after the market close.

IBM (IBM) reports earnings on 1/18/2018 after the market close.

Johnson & Johnson (JNJ) reports earnings on 1/23/2018 at an unspecified time.

Procter & Gamble reports earnings on 1/23/2018 before the market open.

Verizon (VZ) reports earnings on 1/23/2018 at an unspecified time.

Travelers (TRV) reports earnings on 1/23/2018 before the market open.

General Electric (GE) reports earnings on 1/24/2018 before the market open.

United Technologies (UTX) reports earnings on 1/24/2018 before the market open.

Caterpillar (CAT) reports earnings on 1/25/2018 before the market open.

Intel (INTC) reports earnings on 1/25/2018 after the market close.

3M (MMM) reports earnings on 1/25/2018 at an unspecified time.

Today’s Featured Dow Stock

Microsoft (MSFT)

Microsoft (MSFT) is up +3.29% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +8.3% with purchase sub-index +5.0% and refi sub-index +11.4%.

0915 ET Dec industrial production expected +0.4%, Nov +0.2%. Dec manufacturing production expected +0.3%, Nov +0.2%. Dec capacity utilization expected +0.2 to 77.3%, Nov +0.1 to 77.1%.

1000 ET Jan NAHB housing market index expected -2 to 72, Dec +5 to 74.

1400 ET Fed Beige Book.

1500 ET Chicago Fed President Charles Evans (non-voter) and Dallas Fed President Robert Kaplan (non-voter) take part in a moderated discussion on current economic conditions and monetary policy as the American Council of Life Insurers Executive Roundtable.

1630 ET Cleveland Fed President Loretta Mester (voter) discusses monetary policy communication at Rutgers University.