Dow stocks hitting 52-week highs include Merck (MRK) 95.67 (+2.94%). Dow stock 52-week lows include Verizon (VZ) 35.35 (-4.46%).

The Market

Premarket today, the Dow was indicated to open up +263 points.

Friday the Dow closed up +748.97 (+2.47%) at 31,082.56.

Year-to-date the Dow is down -14.46%.

Friday, (28) Dow stocks were up, (1) made 52-week lows and (1) made 52-week highs.

The Dow stock winners Friday were led by Caterpillar (CAT) 190.22 (+6.07%), JPMorgan (JPM) 122.23 (+5.25%), Goldman Sachs (GS) 325.10 (+4.60%) and Dow (DOW) 46.87 (+4.32%).

The Dow stock losers Friday were Verizon (VZ) 35.35 (-4.46%) and American Express (AXP) 140.04 (-1.67%).

The 10 YR yield closed Friday at 4.192% and the VIX at 29.69 (-0.97%). The 10 YR is currently at 4.192 and VIX is at 30.12 (+1.45%).

We are having a really big earnings week with KO, MMM, MSFT, V, BA, CAT, HON, MCD, MRK, AAPL, INTC and CVX reporting. See earnings section below for dates and timing.

China’s ruling Communist Party wrapped up its congress this weekend, leaving no doubt about President Xi Jinping’s authority. He is in line for a third term as president and is poised to stay on for longer than that, as the core leadership group around him is now even more stocked with loyalists. The changes also indicate, according to political analysts who study China, that the nation’s government is putting more emphasis on its increasingly fraught relationship with the United States. Then there’s the mystery surrounding Hu Jintao, China’s former leader, who was publicly removed from his seat next to his successor, Xi, and ushered out of the party’s congress on Saturday. As he was pulled away, Hu spoke to Xi, who appeared more focused on the meeting. China has not explained the incident with Hu.

In the U.K., it looked like Boris Johnson might actually come back to 10 Downing Street not two months after he left. His successor, Liz Truss, quit as prime minister in an even more embarrassingly spectacular fashion than Johnson did after his scandal-plagued tenure, and Johnson had suggested before that he could return. But he withdrew from the Conservative leadership race over the weekend, paving the way for Rishi Sunak, his former finance minister, to take the reins. Sunak had finished second to Truss in their race during the summer after pushing back on her economic plans, which called for steep tax cuts. Markets rebelled once her government actually proposed such an economic package as Britain contended with a cost-of-living crisis and high levels of wealth inequality, and Truss retreated. Now investors are looking to Sunak for stability.

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

The national average price of gasoline is down two-tenths of a cent at $3.793 per gallon.

Latest Dow 30 Earnings Reports

Nike (NKE) reported earnings on 9/29/2022 after the market close with $0.93, beating estimates of $0.913 per share.

Walgreens (WBA) reported earnings on 10/13/2022 before the market open with $0.80, beating estimates of $0.779 per share.

JPMorgan (JPM) reported earnings on 10/14/2022 before the market open with $3.12, beating estimates of $2.961 per share.

UnitedHealth (UNH) reported earnings on 10/14/2022 before the market open with $5.79, beating estimates of $5.451 per share.

Goldman Sachs (GS) reported earnings on 10/18/2022 before the market open with $8.25, beating estimates of $7.69 per share.

Johnson & Johnson (JNJ) reported earnings on 10/18/2022 before the market open with $2.55, beating estimates of $2.494 per share.

Procter & Gamble (PG) reported earnings on 10/19/2022 before the market open with $1.57, beating estimates of $1.548 per share.

Travelers (TRV) reported earnings on 10/19/2022 before the market open with $2.20, beating estimates of $1.77 per share.

IBM (IBM) reported earnings on 10/19/2022 after the market close with $1.81, beating estimates of $1.776 per share.

Dow (DOW) reported earnings on 10/20/2022 before the market open with $1.11, beating estimates of $1.026 per share.

American Express (AXP) reported earnings on 10/21/2022 before the market open with $2.47, beating estimates of $2.385 per share.

Verizon (VZ) reported earnings on 10/21/2022 before the market open with $1.32, beating estimates of $1.285 per share.

Coca Cola (KO) reports earnings on 10/25/2022 before the market open.

3M (MMM) reports earnings on 10/25/2022 before the market open.

Microsoft (MSFT) reports earnings on 10/25/2022 after the market close.

Visa (V) reports earnings on 10/25/2022 after the market close.

Boeing (BA) reports earnings on 10/26/2022 before the market open.

Caterpillar (CAT) reports earnings on 10/27/2022 before the market open.

Honeywell (HON) reports earnings on 10/27/2022 before the market open.

McDonald’s (MCD) reports earnings on 10/27/2022 before the market open.

Merck (MRK) reports earnings on 10/27/2022 before the market open.

Apple (AAPL) reports earnings on 10/27/2022 after the market close.

Intel (INTC) reports earnings on 10/27/2022 after the market close.

Chevron (CVX) reports earnings on 10/28/2022 before the market open.

Amgen (AMGN) reports earnings on 11/3/2022 after the market close.

Disney (DIS) reports earnings on 11/8/2022 after the market close.

Home Depot (HD) reports earnings on 11/15/2022 before the market open.

Walmart (WMT) reports earnings on 11/15/2022 before the market open.

Cisco (CSCO) reports earnings on 11/16/2022 after the market close.

Today’s Featured Dow Stock

Visa (V)

Visa (V) 190.37 (+1.68%) is down -12.15% in 2022.

08:30 AM ET Chicago Fed National Activity (Sep), 0.29
09:45 AM ET Manufacturing PMI (Oct), 51.0, 52.0
09:45 AM ET S&P Global Composite PMI (Oct), 49.5
09:45 AM ET Services PMI (Oct), 49.2, 49.3
11:00 AM ET Treasury Secretary Yellen Speaks
11:30 AM ET 3-Month Bill Auction, 3.820%
11:30 AM ET 6-Month Bill Auction, 4.245%