Dow stocks hitting 52-week highs include Travelers (TRV) 190.74 (-1.30%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +92 points.

Wednesday the Dow closed up +9.88 (+0.03%) at 33,743.84.

Year-to-date the Dow is up +1.80%.

Wednesday, (15) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by Disney (DIS) 108.12 (+2.00%), McDonald’s (MCD) 273.00 (+1.28%) and Walgreens (WBA) 36.28 (+1.06%).

The Dow stock losers Wednesday were led by 3M (MMM) 112.93 (-1.80%), Travelers (TRV) 190.74 (-1.30%) and AMgen (AMGN) 256.54 (-1.22%).

The 10 YR yield closed Wednesday at 3.442 (-0.46%) and the VIX at 19.08 (-0.63%). The 10 YR is currently at 3.452 and VIX is at 20.27 (+5.57%).

GDP data released Thursday showed the economy expand at an annualized rate of 2.9% during the fourth quarter, the Commerce Department said. That’s above the 2.8% print expected by analysts, but represents a slight cooldown from the third-quarter reading. Consumer spending rose 2.1% for the period, down slightly from 2.3% in the previous period but still positive.

Focus now shifts to next week’s Federal Reserve policy meeting, where the central bank is widely expected to announce a 25 basis point hike as it battles high inflation. Investors will be on the lookout for clues into how much further the Fed intends to hike before it cuts rates.

Chevron (CVX) traded up 2.5% in after-hour trading after announcing a $75 billion stock buyback program and a dividend hike Wednesday night. The buyback program will become effective on April 1, with no set expiration date, according to a press release. The dividend hike increases Chevron’s per share payout to $1.51 from $1.42. That will be distributed March 10. Chevron’s market cap was roughly $350 billion as of Wednesday’s market close, meaning that the buyback would represent more than 20% of the company’s stock at current prices.

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

The national average price of gasoline is up +2.1 cents at $3.502 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 1/5/23 before the market open with $1.16, beating estimates of $1.145 per share.

JPMorgan (JPM) reported earnings on 1/13/23 before the market open with $3.57, beating estimates of $3.109 per share.

UnitedHealth (UNH) reported earnings on 1/13/23 before the market open with $5.34, beating estimates of $5.17 per share.

Goldman Sachs (GS) reported earnings on 1/17/23 before the market open with $3.32, missing estimates of $5.48 per share.

Procter & Gamble (PG) reported earnings on 1/19/23 before the market open with $1.59, beating estimates of $1.579 per share.

3M (MMM) reported earnings on 1/24/23 before the market open with $2.349, beating estimates of $2.28 per share.

Johnson & Johnson (JNJ) reported earnings on 1/24/23 before the market open with $2.22, missing estimates of $2.35 per share.

Travelers (TRV) reported earnings on 1/24/23 before the market open with $3.40, meeting estimates of $3.40 per share.

Microsoft (MSFT) reported earnings on 1/24/23 after the market close with $2.32, beating estimates of $2.27 per share.

Verizon (VZ) reported earnings on 1/24/23 after the market close with $1.19, missing estimates of $1.202 per share.

Boeing (BA) reported earnings on 1/25/23 before the market open with -$1.75, missing estimates of $0.05 per share.

IBM (IBM) reported earnings on 1/25/23 after the market close with $3.60, missing estimates of $43.60 per share.

Dow (DOW) reported earnings on 1/26/23 before the market open with $0.46, missing estimates of $0.569 per share.

Intel (INTC) reports earnings on 1/26/23 after the market close.

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

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

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

McDonald’s (MCD) reports earnings on 1/31/23 before the market open.

Caterpillar (CAT) reports earnings on 1/31/23 before the market open.

Amgen (AMGN) reports earnings on 1/31/23 after the market close.

Honeywell (HON) reports earnings on 2/2/23 before the market open.

Merck (MRK) reports earnings on 2/2/23 before the market open.

Apple (AAPL) reports earnings on 2/2/23 after the market close.

Today’s Featured Dow Stock

Walgreens (WBA)

Walgreens (WBA) 36.28 (+1.06%) is down -2.97% in 2023.

Financial Calendar

08:30 AM ET Chicago Fed National Activity (Nov), -0.05
08:30 AM ET Continuing Jobless Claims, 1,659K, 1,647K
08:30 AM ET Core Durable Goods Orders (MoM) (Dec), -0.2%, 0.1%
08:30 AM ET Core PCE Prices (Q4), 4.00%, 4.70%
08:30 AM ET Durable Goods Orders (MoM) (Dec), 2.5%, -2.1%
08:30 AM ET Durables Excluding Defense (MoM) (Dec), -2.7%
08:30 AM ET GDP (QoQ) (Q4), 2.6%, 3.2%
08:30 AM ET GDP Price Index (QoQ) (Q4), 3.3%, 4.4%
08:30 AM ET GDP Sales (Q4), 4.5%
08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Dec), -0.2%, 0.1%
08:30 AM ET Goods Trade Balance (Dec), -82.93B
08:30 AM ET Initial Jobless Claims, 205K, 190K
08:30 AM ET Jobless Claims 4-Week Avg., 206.00K
08:30 AM ET PCE Prices (Q4), 4.3%
08:30 AM ET Real Consumer Spending (Q4), 2.3%
08:30 AM ET Retail Inventories Ex Auto (Dec), -0.3%
08:30 AM ET Wholesale Inventories (MoM), 0.5%, 1.0%
10:00 AM ET New Home Sales (MoM) (Dec), -4.7%, 5.8%
10:00 AM ET New Home Sales (Dec), 617K, 640K
10:30 AM ET Natural Gas Storage, -82B, -82B
11:00 AM ET KC Fed Composite Index (Jan), -9
11:00 AM ET KC Fed Manufacturing Index (Jan), -13
11:30 AM ET 4-Week Bill Auction, 4.480%
11:30 AM ET 8-Week Bill Auction, 4.520%
13:00 PM ET 7-Year Note Auction, 3.921%