DJIA Market Happenings For Thursday, August 11, 2022 – Caterpillar (CAT) 190.72 Down -7.75% YTD

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 +250 points.

Wednesday the Dow closed up +535.10 (+1.63%) at 33,309.51.

Year-to-date the Dow is down -8.33%.

Wednesday, (29) of the Dow 30 stocks were up, none were at a 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Disney (DIS) 112.43 (+3.98%), Salesforce (CRM) 188.61 (+3.50%), Goldman Sachs (GS) 347.91 (+3.35%), Nike (NKE) 113.14 (+2.75%) and Apple (AAPL) 169.24 (+2.62%).

The lone Dow stock loser Wednesday was Merck (MRK) 89.19 (-0.37%)

The 10 YR yield is currently at 2.774% and the VIX is at 19.77 (+0.15%).

Gasoline prices in the United States have been declining for several weeks now, but the average cost of a gallon fell below a key psychological barrier this week. A gallon of regular gas is now going for $3.99, the lowest level since March, AAA said Thursday. Prices reached a record of $5.02 in June, and were indeed higher than that in several places across the nation. The news came a day after the Bureau of Labor Statistics reported that growth in the consumer price index, a measure of inflation, cooled a bit more than expected in July.

Disney (DIS) pretty much had the earnings spotlight to itself Wednesday evening, and it took full of advantage of that. Disney delivered a deluge of news that pushed its stock higher in off-hours trading with quarterly results that beat Wall Street’s expectations on the top and bottom lines, the parks business performed well, and streaming subscriber additions easily topping projections. The company raised prices for its streaming offerings, while it scaled back its ambitious longer-term target for Disney+ subscribers by 15 million, which multiple industry analysts had called for. Disney shares rose by a healthy margin before the bell Thursday, following Wednesday’s nearly 4% gain.

Unemployment insurance weekly claims in the week ending August 6, the advance figure for seasonally adjusted initial claims was 262,000, an increase of 14,000 from the previous week’s revised level. The previous week’s level was revised down by 12,000 from 260,000 to 248,000. The 4-week moving average was 252,000, an increase of 4,500 from the previous week’s revised average. The previous week’s average was revised down by 7,250 from 254,750 to 247,500. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending July 30, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 30 was 1,428,000, an increase of 8,000 from the previous week’s revised level. The previous week’s level was revised up 4,000 from 1,416,000 to 1,420,000. The 4-week moving average was 1,399,250, an increase of 23,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 1,375,250 to 1,375,500. The total number of continued weeks claimed for benefits in all programs for the week ending July 23 was 1,478,780, an increase of 9,206 from the previous week. There were 12,055,317 weekly claims filed for benefits in all programs in the comparable week in 2021.

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

The national average price of gasoline is down 2 cents at $3.990 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) reported earnings on 7/21/22 before the market open with $2.31, beating estimates of $2.14 per share.

Travelers (TRV) reported earnings on 7/21/22 before the market open with $2.57, beating estimates of $1.998 per share.

American Express (AXP) reported earnings on 7/22/22 before the market open with $2.57, beating estimates of $2.371 per share.

Verizon (VZ) reported earnings on 7/22/22 before the market open with $1.31, missing estimates of $1.338 per share.

3M (MMM) reported earnings on 7/26/22 before the market open with $2.48, beating estimates of $2.407 per share.

Coca Cola (KO) reported earnings on 7/26/22 before the market open with $0.70, beating estimates of $0.673 per share.

McDonald’s (MCD) reported earnings on 7/26/22 before the market open with $2.55, beating estimates of $2.456 per share.

Microsoft (MSFT) reported earnings on 7/26/22 after the market close with $2.23, missing estimates of $2.284 per share.

Visa (V) reported earnings on 7/26/22 after the market close with $1.98, beating estimates of $1.739 per share.

Boeing (BA) reported earnings on 7/27/22 before the market open with -$0.37, missing estimates of $-$0.078 per share.

Honeywell (HON) reported earnings on 7/28/22 before the market open with $2.10, beating estimates of $2.027 per share.

Merck (MRK) reported earnings on 7/28/22 before the market open with $1.87, beating estimates of $1.674 per share.

Apple (AAPL) reported earnings on 7/28/22 after the market close with $1.20, beating estimates of $1.138 per share.

Intel (INTC) reports earnings on 7/28/22 after the market close with $0.29, missing estimates of $0.689 per share.

Chevron (CVX) reported earnings on 7/29/22 before the market open with $55.95, beating estimates of $5.017 per share.

Procter & Gamble (PG) reported earnings on 7/29/22 before the market open with $1.21, missing estimates of $1.232 per share.

Caterpillar (CAT) reported earnings on 8/2/22 before the market open with $3.18, beating estimates of $2.996 per share.

Amgen (AMGN) reports earnings on 8/4/22 after the market close with $4.65, beating estimates of $4.405 per share.

Disney (DIS) reported earnings on 8/10/22 after the market close with $1.09, beating estimates of $0.937 per share.

Home Depot (HD) reports earnings on 8/16/22 before the market open.

Walmart (WMT) reports earnings on 8/16/22 before the market open.

Cisco (CSCO) reports earnings on 8/17/22 after the market close.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 190.72 (+2.52%) is down -7.75% in 2022.

Financial Calendar

04:00 AM ET IEA Monthly Report
07:00 AM ET OPEC Monthly Report
08:30 AM ET Continuing Jobless Claims, 1,407K, 1,416K
08:30 AM ET Core PPI (MoM) (Jul), 0.4%, 0.4%
08:30 AM ET Core PPI (YoY) (Jul), 7.6%, 8.2%
08:30 AM ET Initial Jobless Claims, 263K, 260K
08:30 AM ET Jobless Claims 4-Week Avg., 254.75K
08:30 AM ET PPI (YoY) (Jul), 10.4%, 11.3%
08:30 AM ET PPI (YoY) (Jul) 6.4%
08:30 AM ET PPI (MoM) (Jul), 0.2%, 1.1%
08:30 AM ET PPI (MoM) (Jul)0.3%
10:30 AM ET Natural Gas Storage, 39B, 41B
11:30 AM ET 4-Week Bill Auction, 2.110%
11:30 AM ET 8-Week Bill Auction, 2.210%
13:00 PM ET 30-Year Bond Auction, 3.115%

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