Dow stocks hitting 52-week highs include Caterpillar (CAT) 262.12 (+1.42%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +3 points.

Thursday the Dow closed up +205.57 (+0.61%) at 33,949.41.

Year-to-date the Dow is up +2.42%.

Thursday, (18) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Thursday were led by Salesforce (CRM) 165.09 (+5.71%), Chevron (CVX) 187.79 (+4.86%) and Microsoft (MSFT) 248.00 (+3.07%).

The Dow stock losers Thursday were led by IBM (IBM) 134.45 (-4.48%), Merck (MRK) 106.87 (-1.58%) and Home Depot (HD) 313.81 (-1.09%).

The 10 YR yield closed Thursday at 3.502 (-0.46%) and the VIX at 18.73 (-1.83%). The 10 YR is currently at 3.452 and VIX is at 20.27 (+5.57%).

Looking flat this morning. Next week we get the Fed’s latest rate decision.

Intel (INTC) reported quarterly earnings after the bell Thursday. There was bad news everywhere you looked: profits, margins and revenues all fell. In fact, it was the company’s fourth consecutive quarter of declining sales. The tech giant is struggling through a slump in demand for personal computers that has resulted in a costly glut of chip inventories. Intel didn’t give guidance for the full year, given uncertainty around inflation and a potential recession. It did say that it expects to post a loss for the current quarter, however, compared to $1.13 EPS in the prior-year period. Intel’s stock fell about 9% in off-hours trading.

The Federal Reserve’s preferred inflation gauge showed prices rose at a slower pace last month, indicating further progress in the central bank’s battle with higher prices. The Personal Consumption Expenditures price index, or PCE, rose by 5% in December, compared to a year earlier, the Commerce Department reported Thursday. In December alone, prices rose 0.1% from November. Core PCE, which doesn’t include the more volatile food and energy categories, increased by 4.4% annually, down from November’s annual rate of 4.7%. On a monthly basis, it was up 0.3%. Core PCE is the Fed’s favored inflation gauge as it provides a more complete picture of consumer costs and spending.

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

The national average price of gasoline is up seven-tenths of a cent at $3.509 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) reported earnings on 1/26/23 after the market close with $0.10, missing estimates of $0.201 per share.

Visa (V) reported earnings on 1/26/23 after the market close with $2.18, beating estimates of $2.007 per share.

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

Apple (AAPL)

Apple (AAPL) 143.96 (+1.48%) is up +10.80% in 2023.

Financial Calendar

08:30 AM ET Core PCE Price Index (MoM) (Dec), 0.3%, 0.2%
08:30 AM ET Core PCE Price Index (YoY) (Dec), 4.4%, 4.7%
08:30 AM ET PCE Price index (YoY) (Dec), 5.5%
08:30 AM ET PCE price index (MoM) (Dec), 0.1%
08:30 AM ET Personal Income (MoM) (Dec), 0.2%, 0.4%
08:30 AM ET Personal Spending (MoM) (Dec), -0.1%, 0.1%
08:30 AM ET Real Personal Consumption (MoM) (Dec), 0.5%
10:00 AM ET Michigan 5-Year Inflation Expectations (Jan), 3.00%, 3.00%
10:00 AM ET Michigan Consumer Expectations (Jan), 62.0, 62.0
10:00 AM ET Michigan Consumer Sentiment (Jan), 64.6, 64.6
10:00 AM ET Michigan Current Conditions (Jan), 68.6, 68.6
10:00 AM ET Michigan Inflation Expectations (Jan), 4.4%, 4.0%
10:00 AM ET Pending Home Sales (MoM) (Dec), -0.9%, -4.0%
10:00 AM ET Pending Home Sales Index (Dec), 73.9
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 613
13:00 PM ET U.S. Baker Hughes Total Rig Count, 771
15:30 PM ET CFTC Aluminium speculative net positions, 5.5K
15:30 PM ET CFTC Copper speculative net positions, 16.2K
15:30 PM ET CFTC Corn speculative net positions, 271.9K
15:30 PM ET CFTC Crude Oil speculative net positions, 239.2K
15:30 PM ET CFTC Gold speculative net positions, 153.2K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, -20.6K
15:30 PM ET CFTC Natural Gas speculative net positions, -177.2K
15:30 PM ET CFTC S&P 500 speculative net positions, -226.8K
15:30 PM ET CFTC Silver speculative net positions, 31.5K
15:30 PM ET CFTC Soybeans speculative net positions, 169.1K
15:30 PM ET CFTC Wheat speculative net positions, -42.0K