There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +272 points.

Monday the Dow closed down -215.65 (-0.69%) at 31,072.61.

Year-to-date the Dow is down -14.49%.

Monday, (9) of the Dow 30 stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by Goldman Sachs (GS) 301.26 (+2.51%), Dow (DOW) 50.47 (+1.86%) and Chevron (CVX) 139.58 (+1.40%).

The Dow stock losers Monday were led by Merck (MRK) 92.34 (-2.76%), Johnson & Johnson (JNJ) 174.23 (-2.24%) and Apple (AAPL) 147.07 (-2.06%).

The 10 YR yield is currently at 2.986% and the VIX is at 24.57 (-2.89%).

Stocks ended Monday in the red, weighed down by Apple, after a report the tech giant would slow hiring and spending next year for some of its teams.

IBM’s revenue and profit for its most recent quarter beat Wall Street’s expectations Monday, but that wasn’t enough to buoy the stock. Shares of the company fell in the premarket session Tuesday after it trimmed its outlook for free cash flow this year to $10 billion, down from its previous guidance of up to $10.5 billion. IBM Chief Financial Officer Jim Kavanaugh blamed foreign exchange, notably the strong dollar, and the company’s suspension of its “highly profitable” business in Russia over that country’s unprovoked war on Ukraine.

For the first time in 12 years, Chinese holdings of U.S. debt fell under the $1 trillion benchmark. That means Japan is now the biggest international holder of American notes, at $1.2 trillion. The new Treasury Department data, which reflects debt holdings as of May, comes as the Federal Reserve battles four-decade-high inflation with aggressive interest rate hikes. China has also sought to diversify its holdings of foreign debt.

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

The national average price of gasoline is down 2.6 cents at $4.495 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/27/22 after the market close with $0.90, beating estimates of $0.812 per share.

Walgreens (WBA) reported earnings on 6/30/22 before the market open with $0.96, beating estimates of $0.953 per share.

JPMorgan (JPM) reported earnings on 7/14/22 before the market open with $2.76, missing estimates of $2.854 per share.

UnitedHealth (UNH) reported earnings on 7/15/22 before the market open with $5.57, beating estimates of $5.243 per shaare.

Goldman Sachs (GS) reports earnings on 7/18/22 before the market open with $7.33, beating estimates of $6.992 per share.

IBM (IBM) reported earnings on 7/18/22 after the market close with $2.31, beating estimates of $2.288 per share.

Johnson & Johnson (JNJ) reported earnings on 7/19/22 before the market open with $2.59, beating estimates of $2.57 per share.

Dow (DOW) reports earnings on 7/21/22 before the market open.

Travelers (TRV) reports earnings on 7/21/22 before the market open.

American Express (AXP) reports earnings on 7/22/22 before the market open.

Verizon (VZ) reports earnings on 7/22/22 before the market open.

3M (MMM) reports earnings on 7/26/22 before the market open.

Coca Cola (KO) reports earnings on 7/26/22 before the market open.

McDonald’s (MCD) reports earnings on 7/26/22 before the market open.

Microsoft (MSFT) reports earnings on 7/26/22 after the market close.

Visa (V) reports earnings on 7/26/22 after the market close.

Boeing (BA) reports earnings on 7/27/22 before the market open.

Honeywell (HON) reports earnings on 7/28/22 before the market open.

Merck (MRK) reports earnings on 7/28/22 before the market open.

Apple (AAPL) reports earnings on 7/28/22 after the market close.

Intel (INTC) reports earnings on 7/28/22 after the market close.

Caterpillar (CAT) reports earnings on 7/29/22 before the market open.

Chevron (CVX) reports earnings on 7/29/22 before the market open.

Procter & Gamble (PG) reports earnings on 7/29/22 before the market open.

Today’s Featured Dow Stock

Coca Cola (KO)

Coca Cola (KO) 61.65 (-1.36%) is up +4.12% in 2022.

Financial Calendar

08:30 AM ET Building Permits (MoM) (Jun), -7.0%
08:30 AM ET Building Permits (Jun), 1.650M, 1.695M
08:30 AM ET Housing Starts (MoM) (Jun), -14.4%
08:30 AM ET Housing Starts (Jun), 1.580M, 1.549M
08:55 AM ET Redbook (YoY), 13.0%
16:30 PM ET API Weekly Crude Oil Stock, 4.762M