There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Johnson & Johnson (JNJ) 152.57 (-0.45%).

The Market

Premarket today, the Dow was indicated to open up +100 points.

Wednesday the Dow closed up +5.14 (+0.02%) at 32,661.84.

Year-to-date the Dow is down -1.46%.

Wednesday, (12) Dow stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Caterpillar (CAT) 248.67 (+3.81%), 3M (MMM) 110.21 (+2.29%) and Salesforce (CRM) 167.35 (+2.29%).

The Dow stock losers Wednesday were led by Home Depot (HD) 290.79 (-1.94%), Apple (AAPL) 145.31 (-1.42%) and Walmart (WMT) 140.15 (-1.39%).

The VIX closed Wednesday at 20.58 (-0.58%) and the 10 YR was at 4.015 (+0.55%). The 10 YR is currently at 3.913 (+0.05%) and VIX is at 21.05 (+2.28%).

Yesterday the benchmark 10-year note yield traded above 4%. The 2-year note yield reached levels not seen in more than a decade. The rise in bond yields and concerns of a potentially larger-than-expected hike from the Federal Reserve have fueled investor concern in recent days, putting a dent in the early 2023 rally.

Salesforce (CRM) surprised everyone with its earnings report Wednesday. Shares of the enterprise software giant and Slack parent surged around 15% in off-hours trading after the company easily topped Wall Street’s expectations for revenue and profit. Activist investors have been putting the squeeze on Salesforce and its CEO, Marc Benioff, looking for fatter profits. The company recently cut 10% of its workforce, resulting in more than $800 million in restructuring costs, as part of a longer-term attempt to control spending. Benioff also said the company disbanded its board committee on mergers and acquisitions, while it works with consultancy Bain on reviewing Salesforce’s business.

Jobless claims fell to 190,000 for the week ended Feb. 18, down 2,000 from the previous period and below the estimate for 195,000. Continuing claims fell to 1.655 million, down 5,000.

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

The national average price of gasoline is up 1.5 cents at $3.374 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) reported earnings on 2/21/23 before the market open with $3.30, beating estimates of $3.262 per share.

Walmart (WMT) reported earnings on 2/21/23 before the market open with $1.91, beating estimates of $1.517 per share.

Salesforce (CRM) reported earnings on 3/1/23 after the market close with $1.68, beating estimates of $0.734 per share.

Nike (NKE) reports earnings on 3/20/23 after the market close.

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) 137.66 (+0.07%) is down -9.18% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,665K, 1,654K
08:30 AM ET Initial Jobless Claims, 195K, 192K
08:30 AM ET Jobless Claims 4-Week Avg., 191.25K
08:30 AM ET Nonfarm Productivity (QoQ) (Q4), 2.6%, 1.4%
08:30 AM ET Unit Labor Costs (QoQ) (Q4), 1.6%, 2.0%
10:30 AM ET Natural Gas Storage, -75B, -71B
11:30 AM ET 4-Week Bill Auction, 4.515%
11:30 AM ET 8-Week Bill Auction, 4.660%
13:22 PM ET 6-Month Bill Auction
16:00 PM ET Fed Waller Speaks
18:00 PM ET FOMC Member Kashkari Speaks