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 +215 points.

Wednesday the Dow closed down -207.68 (-0.61%) at 33,949.01.

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

Wednesday, (7) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) 483.22 (+1.33%), Merck (MRK) 106.64 (+0.91%) and Goldman Sachs (GS) 375.10 (+0.19%).

The Dow stock losers Wednesday were led by Intel (INTC) 28.24 -2.79%), Chevron (CVX) 170.00 (-2.35%) and Nike (NKE) 122.91 (-1.93%).

The 10 YR yield closed Wednesday at 3.621 (-0.52%) and the VIX at 19.63 (+5.20%). The 10 YR is currently at 3.586 (-1.48%) and VIX is at 19.25 (-1.94%).

Stock futures are up Thursday as investors digest corporate earnings that came in better than feared.

Disney (DIS) shares gained more than 6% after the company posted smaller-than-expected subscriber losses along with earnings and revenue that beat estimates. CEO Bob Iger also announced a new corporate structure that makes ESPN its own unit, $5.5 billion in planned cost cuts and 7,000 layoffs.

Unemployment insurance weekly claims in the week ending February 4, the advance figure for seasonally adjusted initial claims was 196,000, an increase of 13,000 from the previous week’s unrevised level of 183,000. The 4-week moving average was 189,250, a decrease of 2,500 from the previous week’s unrevised average of 191,750. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending January 28, an increase of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 28 was 1,688,000, an increase of 38,000 from the previous week’s revised level. The previous week’s level was revised down by 5,000 from 1,655,000 to 1,650,000. The 4-week moving average was 1,664,750, an increase of 14,500 from the previous week’s revised average. The previous week’s average was revised down by 1,250 from 1,651,500 to 1,650,250. The total number of continued weeks claimed for benefits in all programs for the week ending January 21 was 1,942,676, an increase of 52,388 from the previous week. There were 2,238,754 weekly claims filed for benefits in all programs in the comparable week in 2022.

To summarize, weekly jobless claims jumped by 13,000 to 196,000, more than expected and running contrary to a recent string of much-better-than-expected job data. Treasury yields fell after the data as investors bet that maybe the job market would cool enough for the Fed to slow its hiking campaign further.

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

The national average price of gasoline is down eight-tenths of a cent at $3.437 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) reported earnings on 2/2/23 before the market open with $2.52, beating estimates of $2.487 per share.

Merck (MRK) reported earnings on 2/2/23 before the market open with $1.62, beating estimates of $1.56 per share.

Apple (AAPL) reported earnings on 2/2/23 after the market close with $1.88, missing estimates of $1.931 per share.

Disney (DIS) reports earnings on 2/8/23 after the market close with $0.99, beating estimates of $0.693 per share.

Coca Cola (KO) reported earnings on 2/14/23 before the market open.

Cisco (CSCO) reports earnings on 2/15/23 after the market close.

Home Depot (HD) reports earnings on 2/21/23 before the market open.

Walmart (WMT) reports earnings on 2/21/23 before the market open.

Salesforce (CRM) reports earnings on 3/1/23 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 59.81 (-1.16%) is up +18.69% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,658K, 1,655K
08:30 AM ET Initial Jobless Claims, 190K, 183K
08:30 AM ET Jobless Claims 4-Week Avg., 191.75K
10:30 AM ET Natural Gas Storage, -195B, -151B
11:30 AM ET 4-Week Bill Auction, 4.490%
11:30 AM ET 8-Week Bill Auction, 4.505%
13:00 PM ET 30-Year Bond Auction, 3.585%