DJIA Market Happenings For Friday, August 19, 2022 – Goldman Sachs (GS) 354.52 Down -7.33% 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 down -184 points.

Thursday the Dow closed down -18.72 (-0.06%) at 33,999.04.

Year-to-date the Dow is down -6.49%.

Thursday, (16) of the Dow 30 stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Thursday were led by Cisco (CSCO) 49.37 (+5.81%), Chevron (CVX) 159.02 (+1.75%) and Intel (INTC) 36.20 (+1.17%).

The Dow stock losers Thursday were led by Walgreens (WBA) 38.24 (-6.44%), Verizon (VZ) 44.19 (-2.54%) and Nike (NKE) 116.01 (-0.88%).

The 10 YR yield is currently at 2.983% and the VIX is at 20.40 (+4.29%).

Not much happening this morning, other than the indices are going to open lower. The Fed is sounding hawkish about raising rates and housing is facing a real slowdown, particularly on the builders’ side.

Early today, there was a rapid drop in crypto markets, which sent bitcoin, the biggest cryptocurrency in the world, below $22,000 after it recently topped $25,000 in a rally. Ether has also staged a comeback, a much bigger one than bitcoin’s, since hitting lows in June. The big move in ether comes ahead of a planned upgrade of the ethereum blockchain next month. Both ether and bitcoin are still way off their highs, which they reached in last November.

Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, both plan to be at November’s Group of 20 meeting in Indonesia, according to Reuters. It would mark Xi’s first trip outside China since January 2020, before Covid, which originated in China, became a pandemic. The development comes as Putin continues to wage war in Ukraine after his military launched an unprovoked invasion of Russia’s former Soviet neighbor earlier this year. Both Xi’s and Putin’s governments have been accused of human rights violations, which they have denied. President Joe Biden, whose administration has been supporting Ukraine’s defense, is also expected to attend the G-20 summit, and a meeting between him and Xi is also reportedly in the works.

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

The national average price of gasoline is down 1.3 cents at $3.918 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) reported earnings on 8/16/22 before the market open with $5.05, beating estimates of $4.945 per share.

Walmart (WMT) reports earnings on 8/16/22 before the market open with $1.77, beating estimates of $1.604 per share.

Cisco (CSCO) reported earnings on 8/17/22 after the market close with $0.83, beating estimates of $0.728 per share.

Salesforce (CRM) reports earnings on 8/24/22 after the market close.

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) 354.52 (+0.22%) is down -7.33% in 2022.

Financial Calendar

09:00 AM ET FOMC Member Barkin Speaks
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 601
13:00 PM ET U.S. Baker Hughes Total Rig Count, 763
15:30 PM ET CFTC Aluminium speculative net positions, 4.2K
15:30 PM ET CFTC Copper speculative net positions, -28.5K
15:30 PM ET CFTC Corn speculative net positions, 210.8K
15:30 PM ET CFTC Crude Oil speculative net positions, 210.7K
15:30 PM ET CFTC Gold speculative net positions, 142.9K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 21.1K
15:30 PM ET CFTC Natural Gas speculative net positions, -125.4K
15:30 PM ET CFTC S&P 500 speculative net positions, -244.3K
15:30 PM ET CFTC Silver speculative net positions, 2.9K
15:30 PM ET CFTC Soybeans speculative net positions, 88.9K
15:30 PM ET CFTC Wheat speculative net positions, -3.4K

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