The Dow Market Happenings For Wednesday, August 24, 2022 – IBM (IBM) 134.74 Up +0.81% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Verizon (VZ) 43.47 (-1.58%).

The Market

Premarket today, the Dow was indicated to open down -15 points.

Tuesday the Dow closed down -154.02 (-0.47%) at 32,909.59.

Year-to-date the Dow is down -9.44%.

Tuesday, (9) of the Dow 30 stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Chevron (CVX) 161.99 (+3.24%), Caterpillar (CAT) 197.21 (+2.84%) and Dow (DOW) 55.62 (+2.22%).

The Dow stock losers Tuesday were led by Procter & Gamble (PG) 146.45 (-1.93%), Home Depot (HD) 306.90 (-1.70%) and UnitedHealth (UNH) 535.80 (-1.61%).

The 10 YR yield is currently at 3.094% and the VIX is at 23.95 (-0.66%).

Things are looking pretty flat this morning, but slightly lower.

President Joe Biden is expected to announce his decision on student loan forgiveness soon, potentially as early as Wednesday. Biden is expected to extend the pause on student loan debt payments while forgiving loans up to $10,000 for borrowers with yearly incomes of less than $125,000. That likely won’t be enough to satisfy advocates for slashing student debt, which totals more than $1.7 trillion in the United States.

On the mortgage front, demand is still weak, but a surprising sector of the market showed signs of a comeback. Applications for government-backed loans with lower down payments rose 4% last week. Which is potentially a sign of more first-time homebuyer activity. Housing inventory has long been tight, particularly at the lower end of the market. But demand among higher-income homebuyers has softened a bit, and the average size of home loans has declined.

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

The national average price of gasoline is down nine-tenths of a cent at $3.883 per gallon.

Latest Dow 30 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

IBM (IBM)

IBM (IBM) 134.74 (-0.60%) is up +0.81% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 5.45%
07:00 AM ET MBA Mortgage Applications (WoW), -2.3%
07:00 AM ET MBA Purchase Index, 203.8
07:00 AM ET Mortgage Market Index, 273.3
07:00 AM ET Mortgage Refinance Index, 627.1
08:30 AM ET Core Durable Goods Orders (MoM) (Jul), 0.2%, 0.4%
08:30 AM ET Durable Goods Orders (MoM) (Jul), 0.6%, 2.0%
08:30 AM ET Durables Excluding Defense (MoM) (Jul), 0.5%
08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Jul), 0.3%, 0.7%
10:00 AM ET Pending Home Sales (MoM) (Jul), -4.0%, -8.6%
10:00 AM ET Pending Home Sales Index (Jul), 91.0
10:30 AM ET Crude Oil Inventories, -0.933M, -7.056M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.158M
10:30 AM ET Crude Oil Imports, -2.929M
10:30 AM ET Cushing Crude Oil Inventories, 0.192M
10:30 AM ET Distillate Fuel Production, 0.056M
10:30 AM ET EIA Weekly Distillates Stocks, 0.580M, 0.766M
10:30 AM ET Gasoline Production, -0.185M
10:30 AM ET Heating Oil Stockpiles, 0.249M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.1%, -0.8%
10:30 AM ET Gasoline Inventories, -1.464M, -4.642M
13:00 PM ET 5-Year Note Auction, 2.860%

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