There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +73 points.

Monday the Dow closed down -260.99 (-0.77%) at 33,717.09.

Year-to-date the Dow is up +1.72%.

Monday, (8) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by Goldman Sachs (GS) 357.46 (+1.06%), Verizon (VZ) 41.05 (+1.01%) and IBM (IBM) 135.30 (+0.68%).

The Dow stock losers Monday were led by Johnson & Johnson (JNJ) 162.00 (-3.70%), Chevron (CVX) 174.20 (-2.93%) and 3M (MMM) 112.58 (-2.32%).

The 10 YR yield closed Monday at 3.534 (+0.48%) and the VIX at 19.94 (+7.73%). The 10 YR is currently at 3.509 and VIX is at 19.95 (+0.05%).

The Fed begins its two-day policy-setting meeting today and is expected to increase its benchmark rate by a quarter point Wednesday.

McDonald’s (MCD) is built to thrive during tough economic times. Even though the fast food giant raised prices to keep up with inflation, it is still able to draw masses to its drive throughs and counters as people trade down from full-service restaurants to gobble up value meals and deals. McDonald’s on Tuesday posted earnings and sales that topped Wall Street’s outlook, as same-store sales grew by double digits in the United States and abroad. The McRib’s “Farewell Tour” also helped sales, unsurprisingly.

Caterpillar (CAT) shares fell more than 2% in the premarket after the industrial giant posted its latest quarterly results.

Compensation costs for civilian workers increased at a slower pace in the fourth quarter, the Bureau of Labor Statistics reported Tuesday. The employment cost index, an important inflation gauge for the Federal Reserve, showed compensation increased 1% for the October-to-December period. That was a touch below the 1.1% estimate. It also was lower than the 1.2% increase in the third quarter. On a 12-month basis, the ECI rose 5.1%, up slightly from the 5% gain in the third quarter.

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

The national average price of gasoline is down three-tenths of a cent at $3.505 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) reported earnings on 1/27/23 before the market open with $2.07, missing estimates of $2.183 per share.

Chevron (CVX) reported earnings on 1/27/23 before the market open with $4.09, missing estimates of $4.158 per share.

McDonald’s (MCD) reported earnings on 1/31/23 before the market open with $2.59, beating estimates of $2.455 per share.

Caterpillar (CAT) reported earnings on 1/31/23 before the market open with $3.86, missing estimates of $3.945 per share.

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.

Disney(DIS) reports earnings on 2/8/23 after the market close.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) 172.66 (+0.20%) is up +17.36% in 2023.

Financial Calendar

08:30 AM ET Employment Benefits (QoQ) (Q4), 1.00%
08:30 AM ET Employment Cost Index (QoQ) (Q4), 1.1%, 1.2%
08:30 AM ET Employment Wages (QoQ) (Q4), 1.30%
08:55 AM ET Redbook (YoY), 4.6%
09:00 AM ET House Price Index (MoM) (Nov), -0.4%, 0.0%
09:00 AM ET House Price Index (YoY) (Nov), 9.8%
09:00 AM ET House Price Index (Nov), 392.7
09:00 AM ET S&P/CS HPI Composite – 20 s.a. (MoM) (Nov), -0.6%, -0.5%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (MoM) (Nov), -0.8%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (YoY) (Nov), 6.8%, 8.6%
09:45 AM ET Chicago PMI (Jan), 45.1, 45.1
10:00 AM ET CB Consumer Confidence (Jan), 109.0, 108.3
10:30 AM ET Dallas Fed Services Revenues (Jan), -0.6
10:30 AM ET Texas Services Sector Outlook (Jan), -19.8
16:30 PM ET API Weekly Crude Oil Stock, 3.378M