There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Apple (AAPL) 125.07 (-3.74%).

The Market

Premarket today, the Dow was indicated to open up +93 points.

Tuesday the Dow closed down -10.88 (-0.03%) at 33,136.37.

Year-to-date the Dow is down -0.03%.

Tuesday, (18) 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 Boeing (BA) 195.39 (+2.57%), Disney (DIS) 88.97 (+2.41%) and 3M (MMM) 122.47 (+2.13%).

The Dow stock losers Tuesday were led by Apple (AAPL) 125.07 (-3.74%), Chevron (CVX) 173.99 (-3.06%) and UnitedHealth (UNH) 518.64 (-2.18%).

The 10 YR yield closed Tuesday at 3.759 (-0.90%) and the VIX at 22.90 (+5.68%). The 10 YR is currently at 3.683 and VIX is at 22.96 (+0.26%).

The JOLT’s report is out at 7 am PST today and the FOMC Meeting Minutes are out at 11 am PST and Friday we get the monthly Jobs Report.

UBS downgraded Honeywell to sell from buy and lowered its price target to $193 from $220 on Wednesday.

Interest rates shot up again at the end of 2022, which weighed on mortgage demand. Overall, mortgage demand fell 13% last week from two weeks earlier. Drilling down, applications to buy a home slipped 12%, while refinancing applications, which are more sensitive to rate changes, declined 16%. During the last two weeks of the year, rates for the popular 30-year mortgage rose to 6.58% from 6.34%. It had been 3.33% at the end of 2021.

The new Congress went into session Tuesday, but, for the first time in 100 years, the majority party failed to elect a speaker right away. Kevin McCarthy, the Republican leader, failed on three ballots to be elected to the office, as hard-right members of his caucus held firm against him. Opposition to McCarthy grew throughout the day. His chances are murky at best, especially now that former President Donald Trump has backed off fully endorsing McCarthy for speaker. The chaos likely foreshadows only more dysfunction over the next two years, potentially imperiling essential legislation such as bills to keep the government open. The House is adjourned until noon Wednesday.

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

The national average price of gasoline is up 3.2 cents at $3.260 per gallon.

Earnings Reports

Walgreens (WBA) will report earnings on 1/5/23 before the market open.

JPMorgan (JPM) will report earnings on 1/13/23 before the market open.

UnitedHealth (UNH) will report earnings on 1/13/23 before the market open.

Goldman Sachs (GS) will report earnings on 1/17/23 before the market open.

Procter & Gamble (PG) will report earnings on 1/19/23 before the market open.

3M (MMM) will report earnings on 1/24/23 before the market open.

Johnson & Johnson (JNJ) will report earnings on 1/24/23 before the market open.

Microsoft (MSFT) will report earnings on 1/24/23 after the market close.

Travelers (TRV) will report earnings on 1/24/23 before the market open.

Verizon (VZ) will report earnings on 1/24/23 before the market open.

Boeing (BA) will report earnings on 1/25/23 before the market open.

IBM (IBM) will report earnings on 1/25/23 after the market close.

Intel (INTC) will report earnings on 1/25/23 after the market close.

McDonald’s (MCD) will report earnings on 1/26/23 before the market open.

Caterpillar (CAT) will report earnings on 1/26/23 before the market open.

Dow (DOW) will report earnings on 1/26/23 before the market open.

Apple (AAPL) will report earnings on 1/26/23 after the market close.

Visa (V) will report earnings on 1/26/23 after the market close.

American Express (AXP) will report earnings on 1/27/23 before the market open.

Chevron (CVX) will report earnings on 1/27/23 before the market open.

Today’s Featured Dow Stock

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) 178.19 (+0.87%) is up +0.87% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.34%
07:00 AM ET MBA Mortgage Applications (WoW), 0.9%
07:00 AM ET MBA Purchase Index, 182.5
07:00 AM ET Mortgage Market Index, 212.5
07:00 AM ET Mortgage Refinance Index, 371.4
08:55 AM ET Redbook (YoY), 9.6%
10:00 AM ET ISM Manufacturing Employment (Dec), 48.4
10:00 AM ET ISM Manufacturing New Orders Index (Dec), 47.2
10:00 AM ET ISM Manufacturing PMI (Dec), 48.5, 49.0
10:00 AM ET ISM Manufacturing Prices (Dec), 42.6, 43.0
10:00 AM ET JOLTs Job Openings (Nov), 10.000M, 10.334M
14:00 PM ET FOMC Meeting Minutes
16:30 PM ET API Weekly Crude Oil Stock, -1.300M