The Dow Market Happenings For Monday, February 28, 2022 – JPMorgan (JPM) 147.97 Down -6.56% YTD


There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Caterpillar (CAT) 184.69, Salesforce (CRM) 204.29, Honeywell (HON) 182.34 and 3M (MMM) 13.70.

The Market

Premarket today, the Dow was indicated to open down -420 points.

Friday the Dow closed up +834.92 (+2.51%) at 34,058.75.

Year-to-date the Dow is down -6.27%.

All 30 Dow stocks were up Friday.

The Dow stock winners Friday were led by Johnson & Johnson (JNJ) 166.00 (+4.97%), 3M (MMM) 150.51 (+4.74%), UnitedHealth (UNH) 475.75 (+4.36%), Procter & Gamble (PG) 158.24, Travelers (TRV) 173.44 (+4.17%) and Chevron (CVX) 140.38 (+4.10%).

The Dow stock losers Friday were nowhere to be found.

The 10-year Treasury yield is currently at 1.926%.

U.S. stock futures are down Monday but are up from earlier lows on the last day of February, after the Biden administration announced additional sanctions against Russia’s central bank over Moscow’s unprovoked invasion of Ukraine. On Saturday, the U.S., European allies and Canada agreed to cut off key Russian banks from the interbank SWIFT messaging system. Monday’s new actions by the White House effectively prohibit Americans from doing any business with the Russian central bank as well as freezes its assets within the United States. The weekend’s coordinated move to block Russian banks from SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, means they won’t be able to communicate securely with banks beyond their borders.

Oil prices climbed Monday, but traded off earlier higher, after the SWIFT banking prohibition prompted fears that energy supplies could be indirectly affected. West Texas Intermediate crude, the U.S. benchmark, rose more than 3% to roughly $95 per barrel. Brent crude, the international benchmark, advanced more than 2% to around $100 per barrel. British energy giant BP announced Sunday it’s offloading its 19.75% stake in Rosneft, a Russian-controlled oil company. Russia is a key oil and natural gas supplier, especially to Europe.

Facing mounting international sanctions, Russia’s currency, the ruble, crashed 30% on Monday. The Russian central bank raised its key interest rate to 20% from 9.5% on Monday in an emergency move aimed at stemming the slide in the ruble. The Russian central bank and Finance Ministry jointly ordered Russian exporting companies to sell 80% of their foreign currency revenues. The Russian stock market was ordered closed Monday. The Russian stocks ETF tanked 23% in the premarket.

The economic fallout in Russia came as fighting in Ukraine showed no signs of abating and following Russian President Vladimir Putin putting nuclear forces put on high alert. Ukraine began talks near Belarus’ border Monday with Russia in hopes of reaching a cease-fire. While Ukraine sent its defense minister and other top officials, Russia’s delegation was led by Putin’s advisor on culture, an unlikely envoy for ending the war and a sign of how Moscow views the talks.

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

The national average price of gasoline is up six-tenths of a cent at $3.610 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 12/20/2021 after the market close with $0.83, beating estimates of $0.626 per share.

Walgreens (WBA) reported earnings on 1/6/2021 before the market open with $1.68, beating estimates of $1.354 per share.

JPMorgan (JPM) reported earnings on 1/14/2022 before the market open with $3.33, beating estimates of $2.978 per share.

Goldman Sachs (GS) reported earnings on 1/18/2022 before the market open with $10.81, missing estimates of $11.76 per share.

Procter & Gamble (PG) reported earnings on 1/19/2022 before the market open with $1.66, beating estimates of $1.649 per share.

UnitedHealth (UNH) reported earnings on 1/19/2022 before the market open with $4.48, beating estimates of $4.296 per share.

Travelers (TRV) reported earnings on 1/20/2022 before the market open with $5.20, beating estimates of $3.861 per share.

IBM (IBM) reports earnings on 1/24/2022 after the market close with $3.35, missing estimates of $3.385 per share.

3M (MMM) reported earnings on 1/25/2022 before the market open with $2.31, beating estimates of $2.028 per share.

American Express (AXP) reported earnings on 1/25/2022 before the market open with $2.18, beating estimates of $1.778 per share.

Johnson & Johnson (JNJ) reported earnings on 1/25/2022 before the market open with $2.13, beating estimates of $2.123 per share.

Verizon (VZ) reported earnings on 1/25/2022 before the market open with $1.31, beating estimates of $1.282 per share.

Microsoft (MSFT) reported earnings on 1/25/2022 after the market close with $2.48, beating estimates of $2.288 per share.

Boeing (BA) reported earnings on 1/26/2022 before the market open with -$7.69, missing estimates of -$0.09 per share.

Intel (INTC) reported earnings on 1/26/2022 after the market close with $1.09, beating estimates of $0.90 per share.

Dow (DOW) reported earnings on 1/27/2022 before the market open with $2.15, beating estimates of $2.039.

McDonald’s (MCD) reported earnings on 1/27/2022 before the market open with $2.23, missing estimates of $2.309 per share.

Apple (AAPL) reported earnings on 1/27/2022 after the market close with $2.10, beating estimates of $1.888 per share.

Visa (V) reported earnings on 1/27/2022 after the market close with $1.81, beating estimates of $1.693 per share.

Caterpillar (CAT) reported earnings on 1/28/2022 before the market open with $2.69, beating estimates of $2.233 per share.

Chevron (CVX) reported earnings on 1/28/2022 before the market open with $2.63, missing estimates of $3.106 per share.

Honeywell (HON) reported earnings on 2/3/2022 before the market open with $2.09, beating estimates of $2.079 per share.

Merck (MRK) reported earnings on 2/3/2022 before the market open with $1.80, beating estimates of $1.456 per share.

Amgen (AMGN) reported earnings on 2/7/2022 after the market close with $4.36, beating estimates of $4.141 per share.

Disney (DIS) reported earnings on 2/9/2022 after the market close with $1.06, beating estimates of $0.573 per share.

Coca Cola (KO) reported earnings on 2/10/2022 before the market open with $0.45, beating estimates of $0.401 per share.

Cisco (CSCO) reported earnings on 2/16/2022 after the market close with $0.84, beating estimates of $0.725 per share.

Walmart (WMT) reported earnings on 2/17/2022 before the market open with $1.53, beating estimates of $1.496 per share.

Home Depot (HD) reported earnings on 2/22/2022 before the market open with $3.21, beating estimates of $3.195 per share.

Salesforce (CRM) reports earnings on 3/1/2022 after the market close.

Today’s Featured Dow Stock

JPMorgan (JPM)

JPMorgan (JPM) 147.97 (+2.37%) is down -6.56% in 2022.

Financial Calendar

08:30 AM ET Goods Trade Balance (Jan)
08:30 AM ET Retail Inventories Ex Auto (Jan)
08:30 AM ET Wholesale Inventories (MoM)
09:45 AM ET Chicago PMI (Feb)
10:30 AM ET Dallas Fed Mfg Business Index (Feb)
11:30 AM ET 3-Month Bill Auction
11:30 AM ET 6-Month Bill Auction

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