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 down -188 points.

Tuesday the Dow closed up +368.95 (+0.109%) at 34,086.04.

Year-to-date the Dow is up +2.38%.

Tuesday, (26) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Home Depot (HD) 324.17 (+3.16%), UnitedHealth (UNH) 499.19 (+2.76%) and Dow (DOW) 59.35 (+2.42%).

The Dow stock losers Tuesday were led by Caterpillar (CAT) 252.29 (-3.52%), McDonald’s (MCD) 267.40 (-1.29%) and IBM (IBM) 134.73 (-0.42%).

The 10 YR yield closed Tuesday at 3.522 (-0.51%) and the VIX at 19.40 (-2.71%). The 10 YR is currently at 3.451 and VIX is at 19.67 (+1.39%).

Markets have priced in a near -100% certainty that the Fed will announce a 0.25 percentage point interest rate increase when its meeting wraps up Wednesday. Traders are also betting the central bank will hike a quarter point once more in March then stop, pause for several months, and then start cutting toward the end of the year. Over the past few weeks, Fed officials have been explicit in stating that, at the very least, they can start approving smaller moves than the four consecutive 0.75 percentage point increases in 2022. That began in December with a 0.5-point hike and will continue with this highly anticipated move. That will take the fed funds rate to a target range of 4.5%-4.75%, the highest since October 2007. The funds rate is what banks use as a benchmark for overnight borrowing, but it flows through to many consumer credit instruments like car loans, mortgages and credit cards.

Tomorrow we get earnings from Apple (AAPL), Honeywell (HON) and Merck (MRK). See earnings section below.

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

The national average price of gasoline is down four-tenths of a cent at $3.501 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) reported earnings on 1/31/23 after the market close with $4.09, beating estimates of $4.036 per share.

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

Boeing (BA)

Boeing (BA) 213.00 (+1.59%) is up +11.82% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.20%
07:00 AM ET MBA Mortgage Applications (WoW), 7.0%
07:00 AM ET MBA Purchase Index, 205.4
07:00 AM ET Mortgage Market Index, 255.3
07:00 AM ET Mortgage Refinance Index, 502.3
08:15 AM ET ADP Nonfarm Employment Change (Jan), 178K, 235K
09:45 AM ET Manufacturing PMI (Jan), 46.8, 46.8
10:00 AM ET Construction Spending (MoM) (Dec), -0.1%, 0.2%
10:00 AM ET ISM Manufacturing Employment (Jan), 49.0, 51.4
10:00 AM ET ISM Manufacturing New Orders Index (Jan), 45.2
10:00 AM ET ISM Manufacturing PMI (Jan), 48.0, 48.4
10:00 AM ET ISM Manufacturing Prices (Jan), 39.5, 39.4
10:00 AM ET JOLTs Job Openings (Dec), 10.250M, 10.458M
10:30 AM ET Crude Oil Inventories, 0.376M, 0.533M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.128M
10:30 AM ET Crude Oil Imports, -1.791M
10:30 AM ET Cushing Crude Oil Inventories, 4.267M
10:30 AM ET Distillate Fuel Production, -0.009M
10:30 AM ET EIA Weekly Distillates Stocks, -1.300M, -0.507M
10:30 AM ET Gasoline Production, -0.034M
10:30 AM ET Heating Oil Stockpiles, -0.234M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 0.5%, 0.8%
10:30 AM ET Gasoline Inventories, 1.442M, 1.763M
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 4.75%, 4.50%
14:30 PM ET FOMC Press Conference