DJIA Market Happenings For Thursday, February 16, 2023 – Intel (INTC) 28.85 Up +9.16% YTD

Dow stocks hitting 52-week highs include Boeing (BA) 218.45 (+1.30%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -308 points.

Wednesday the Dow closed up +38.78 (+0.11%) at 34,128.05. .

Year-to-date the Dow is up +2.96%.

Wednesday, (16) 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 Caterpillar (CAT) 248.70 (+1.78%), Cisco (CSCO) 48.45 (+1.57%) and Disney (DIS) 109.24 (+1.47%).

The Dow stock losers Wednesday were led by Johnson & Johnson (JNJ) 159.37 (-1.65%), Chevron (CVX) 169.01 (-1.05%) and Microsoft (MSFT) 269.32 (-1.05%).

The 10 YR yield closed Wednesday at 3.784 (-0.55%) and the VIX at 18.23 (-3.60%). The 10 YR is currently at 3.839 (+0.89%) and VIX is at 19.61 (+7.57%).

Stock futures slid further after January’s producer price index, another inflation measure, rose 0.7% on the month while economists had expected a 0.4% increase. Initial jobless claims unexpectedly fell for the week ending February 11, per a Labor Department report.

Initial claims for unemployment benefits dipped 1,000 to 194,000 for the week ended Feb. 11, the Labor Department said on Thursday. Economists had forecast jobless claims at 200,000. The number from the prior week was revised to 195,000 from 196,000, according to the Labor Department.

Cisco (CSCO) stock got a decent bump in off-hours trade after a strong earnings report. The company beat on the top and bottom lines, while also raising its forecast for the year. Cisco also said some of its logistics costs came down. Demand is also stable, according to Cisco, even as other tech companies contend with sliding demand for computers and pressures from a slumping ad market. But the company also reported some difficulties. For instance, its hardware and software backlogs are still much higher than usual, and it’s due to limited supply availability, according to CFO Scott Herren.

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

The national average price of gasoline is up four-tenths of a cent at $3.418 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 with $0.47, beating estimates of $0.447 per share.

Cisco (CSCO) reported earnings on 2/15/23 after the market close with $0.88, beating estimates of $0.759 per share.

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

Intel (INTC)

Intel (INTC) 28.85 (+0.73%) is up +9.16% in 2023.

Financial Calendar

08:30 AM ET Building Permits (MoM) (Jan), -1.0%
08:30 AM ET Building Permits (Jan), 1.350M, 1.337M
08:30 AM ET Continuing Jobless Claims, 1,695K, 1,688K
08:30 AM ET Core PPI (MoM) (Jan), 0.3%, 0.1%
08:30 AM ET Core PPI (YoY) (Jan), 4.9%, 5.5%
08:30 AM ET Housing Starts (Jan), 1.360M, 1.382M
08:30 AM ET Housing Starts (MoM) (Jan), -1.4%
08:30 AM ET Initial Jobless Claims, 200K, 196K
08:30 AM ET Jobless Claims 4-Week Avg., 189.25K
08:30 AM ET Philadelphia Fed Manufacturing Index (Feb), -7.4, -8.9
08:30 AM ET Philly Fed Business Conditions (Feb), 4.9
08:30 AM ET Philly Fed CAPEX Index (Feb), 10.50
08:30 AM ET Philly Fed Employment (Feb), 10.9
08:30 AM ET Philly Fed New Orders (Feb), -10.9
08:30 AM ET Philly Fed Prices Paid (Feb), 24.50
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Jan), 4.6%
08:30 AM ET PPI (MoM) (Jan), 0.4%, -0.4%
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Jan), 0.1%
08:30 AM ET PPI (YoY) (Jan), 5.4%, 6.2%
08:45 AM ET FOMC Member Mester Speaks
10:30 AM ET Natural Gas Storage, -109B, -217B
11:30 AM ET 4-Week Bill Auction, 4.520%
11:30 AM ET 8-Week Bill Auction, 4.600%
13:00 PM ET 30-Year TIPS Auction, 0.920%
13:30 PM ET FOMC Member Bullard Speaks
16:00 PM ET Fed Governor Cook Speaks
18:00 PM ET FOMC Member Mester Speaks

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