DJIA Market Happenings For Tuesday, November 29, 2022 – Microsoft (MSFT) 241.76 Down -28.12% YTD

Dow stocks hitting 52-week highs include Merck (MRK) 108.45 (+0.88%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -37 points.

Monday the Dow closed down -497.57 (-1.45%) at 33,849.46.

Year-to-date the Dow is down -6.85%.

Monday, (5) of the Dow 30 stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Monday were led by Merck (MRK) 108.45 (+0.88%), Walmart (WMT) 153.51 (+0.29%) and Salesforce (CRM) 153.69 (+0.22%).

The Dow stock losers Monday were led by Boeing (BA) 171.83 (-3.66%), 3M (MMM) 124.64 (-3.41%) and Disney (DIS) 95.69 (-3.22%).

The 10 YR yield closed Monday at 3.696 and the VIX at 22.21 (+8.34%). The 10 YR is currently at 3.746 and VIX is at 22.08 (-0.59%).

Wall Street is looking for a rebound after Monday’s drop, which came as investors watched protests in China against the government’s harsh anti-Covid measures. China’s economy is already prone to fits and starts due to President Xi Jinping’s “zero Covid” policy, which relies heavily on mass quarantines, and mass unrest would create a new level of uncertainty for the nation of 1.4 billion people, as well as global markets. This week, investors are also preparing to digest a new wave of earnings reports (Salesforce-CRM Wednesday) and the November jobs report, which lands Friday.

Bob Iger on Monday made a splashy return to the Disney lot in Burbank, California, where he held his first town hall since he was re-hired as CEO just over a week ago. He spent a lot of time focusing on the company’s culture, which many at Disney felt suffered under previous CEO Bob Chapek, and touting its creative powers. But Iger also spoke about nitty gritty moves that will affect the company’s day-to-day work. Iger said Disney (DIS) would keep in place the hiring freeze implemented by Chapek, and that he would take a good look at the company’s cost structure. Chapek, in a memo about cost cutting he had sent days before he was ousted, had indicated layoffs were going to be part of the process. Now it’s up to Iger, who has built up a great deal of goodwill among employees, to make that call.

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

The national average price of gasoline is down 2.5 cents at $3.521 per gallon.

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) reported earnings on 10/25/2022 before the market open with $0.69, beating estimates of $0.636 per share.

3M (MMM) reported earnings on 10/25/2022 before the market open with $2.69, beating estimates of $2.612 per share.

Microsoft (MSFT) reported earnings on 10/25/2022 after the market close with $2.35, beating estimates of $2.29 per share.

Visa (V) reported earnings on 10/25/2022 after the market close with $1.93, beating estimates of $1.857 per share.

Boeing (BA) reported earnings on 10/26/2022 before the market open with -$6.18, missing estimates of -$0.006 per share.

Caterpillar (CAT) reported earnings on 10/27/2022 before the market open with $3.95, beating estimates of $3.186 per share.

Honeywell (HON) reported earnings on 10/27/2022 before the market open with $2.25, beating estimates of $2.163 per share.

McDonald’s (MCD) reported earnings on 10/27/2022 before the market open with $2.68, beating estimates of $2.57 per share.

Merck (MRK) reported earnings on 10/27/2022 before the market open with $1.85, beating estimates of $1.674 per share.

Apple (AAPL) reported earnings on 10/27/2022 after the market close with $1.29, beating estimates of $1.261 per share.

Intel (INTC) reported earnings on 10/27/2022 after the market close with $0.59, beating estimates of $0.34 per share.

Chevron (CVX) reported earnings on 10/28/2022 before the market open with $5.56, beating estimates of $5.019 per share.

Amgen (AMGN) reported earnings on 11/3/2022 after the market close with $4.70, beating estimates of $4.427 per share.

Disney (DIS) reports earnings on 11/8/2022 after the market close with $0.30, missing estimates of $0.503 per share.

Home Depot (HD) reported earnings on 11/15/2022 before the market open with $4.24, beating estimates of $4.109 per share.

Walmart (WMT) reported earnings on 11/15/2022 before the market open with $1.50, beating estimates of $1.315 per share.

Cisco (CSCO) reported earnings on 11/16/2022 after the market close with $0.86, beating estimates of $0.733 per share.

Salesforce (CRM) reports earnings on 11/30/2022 after the market close.

Today’s Featured Dow Stock

Microsoft (MSFT)

Microsoft (MSFT) 241.76 (-2.32%) is down -28.12% in 2022.

Financial Calendar

08:55 AM ET Redbook (YoY), 7.5%
09:00 AM ET House Price Index (YoY) (Sep), 11.9%
09:00 AM ET House Price Index (MoM) (Sep), -1.2%, -0.7%
09:00 AM ET House Price Index (Sep), 392.0
09:00 AM ET S&P/CS HPI Composite – 20 s.a. (MoM) (Sep), -1.2%, -1.3%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep), 10.8%, 13.1%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (MoM) (Sep), -0.7%, -1.6%
10:00 AM ET CB Consumer Confidence (Nov), 100.0, 102.5
10:30 AM ET Dallas Fed Services Revenues (Nov), 8.5
10:30 AM ET Texas Services Sector Outlook (Nov), -13.6
11:30 AM ET 52-Week Bill Auction, 4.505%
16:30 AM ET API Weekly Crude Oil Stock, -4.800M

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