Dow stocks hitting 52-week highs include Merck (MRK) 118.22 (+0.28%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -81 points.

Wednesday the Dow closed down -270.29 (-0.80%) at 33,414.24.

Year-to-date the Dow is up +0.81%.

Wednesday, (3) Dow stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Wednesday were Intel (INTC) 30.65 (+2.96%), Verizon (VZ) 37.98 (+0.82%) and Merck (MRK) 118.22 (+0.28%).

The Dow stock losers Wednesday were led by Walgreens (WBA) 31.96 (-4.60%), Amgen (AMGN) 229.31 (-2.82%) and JPMorgan (JPM) 135.98 (-2.12%).

The VIX closed Wednesday at 18.34 (+3.15%) and the 10 YR at 3.339 (-1.48%). The VIX is currently at 19.28 (+5.13%). The 10YR is at 3.375 (-0.41%).

Stock futures decline Thursday, a day after the Federal Reserve hiked rates by another 25 basis points.

Jobless claims totaled 242,000 for the week ended April 29, higher than the 236,000 estimate from Dow Jones. Worker productivity in the first quarter declined 2.7% against the estimate for a 1.9% drop, while unit labor costs, an inflation gauge, accelerated 6.3% in Q1, higher than the 5.5% expectation.

The trade deficit declined to $64.2 billion, but that was higher than the $63.1 billion estimate.

The percentage of financial newsletter editors in the U.S. expecting a correction (short term weakness) in the stock market rose to 30.6% in the latest weekly survey, up from 26.4% last week. Bullish opinion declined again, to 45.8% from 48.6% last week and 50.7% two weeks ago, which was the highest reading since November 2021, shortly before prices peaked in January 2022. Bearish opinion narrowed as well, dropping to 23.6% from 25% last week. Sentiment surveys are contrarian indicators. The more optimism found, the greater the risk in stocks. The greater the pessimism, the less risk.

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

The national average price of gasoline is down 1.2 cents at $3.574 per gallon.

Earnings Reports

JPMorgan (JPM) reported earnings on 4/14/23 before the market open with $4.10, beating estimates of $3.414 per share.

UnitedHealth (UNH) reported earnings on 4/14/23 before the market open with $6.26, beating estimates of $6.238 per share.

Goldman Sachs (GS) reported earnings on 4/18/23 before the market open with $8.79, beating estimates of $8.10 per share.

Johnson & Johnson (JNJ) reported earnings on 4/18/23 before the market open with $2.68, beating estimates of $2.506 per share.

Travelers (TRV) reported earnings on 4/19/23 before the market open with $4.11, beating estimates of $3.636 per share.

IBM (IBM) reported earnings on 4/19/23 after the market close with $1.36, beating estimates of $1.273 per share.

American Express (AXP) reported earnings on 4/20/23 before the market open with $2.40, missing estimates of $2.603 per share.

Procter & Gamble (PG) reported earnings on 4/21/23 before the market open with $1.37, beating estimates of $1.317per share.

Coca Cola (KO) reported earnings on 4/24/23 before the market open with $0.68, beating estimates of $0.647 per share.

3M (MMM) reported earnings on 4/25/23 before the market open with $1.97, beating estimates of $1.602per share.

Dow (DOW) reports earnings on 4/25/23 before the market open with $0.58, beating estimates of $0.369 per share.

Verizon (VZ) reports earnings on 4/25/23 before the market open with $1.20, beating estimates of $1.192 per share.

Microsoft (MSFT) reported earnings on 4/25/23 after the market close with $2.45, beating estimates of $2.216 per share.

Visa (V) reported earnings on 4/25/23 after the market close with $2.09, beating estimates of $1.969per share.

McDonald’s (MCD) reported earnings on 4/25/23 before the market open with $2.45, beating estimates of $2.307 per share.

Boeing (BA) reported earnings on 4/26/23 before the market open with -$1.27, beating estimates of $0.981 per share.

Caterpillar (CAT) reported earnings on 4/27/23 before the market open with $4.91, beating estimates of $3.786 per share.

Merck (MRK) reported earnings on 4/27/23 before the market open with $1.40, beating estimates of $1.341 per share.

Honeywell (HON) reported earnings on 4/27/23 before the market open with $2.07, beating estimates of $1.927 per share.

Amgen (AMGN) reported earnings on 4/27/23 after the market close with $3.98, beating estimates of $3.838 per share.

Intel (INTC) reported earnings on 4/27/23 after the market close with -$0.04, beating estimates of -$0.157 per share.

Chevron (CVX) reported earnings on 4/28/23 before the market open with $3.55, beating estimates of $3.362 per share.

Apple (AAPL) reports earnings on 5/4/23 after the market close.

Disney (DIS) reports earnings on 5/10/23 after the market close.

Cisco (CSCO) reports earnings on 5/17/23 after the market close.

Walmart (WMT) reports earnings on 5/18/23 before the market open.

Today’s Featured Dow Stock

Visa (V)

Visa (V) 225.98 (-0.44%) is up +8.77% in 2023.

Financial Calendar

07:30 AM ET Challenger Job Cuts (Apr), 89.703K
07:30 AM ET Challenger Job Cuts (YoY), 319.4%
08:30 AM ET Continuing Jobless Claims, 1,865K, 1,858K
08:30 AM ET Exports, 251.15B
08:30 AM ET Imports, 321.70B
08:30 AM ET Initial Jobless Claims, 240K, 230K
08:30 AM ET Jobless Claims 4-Week Avg., 217.09K, 236.00K
08:30 AM ET Nonfarm Productivity (QoQ) (Q1), -1.8%, 1.7%
08:30 AM ET Trade Balance (Mar), -63.30B, -70.50B
08:30 AM ET Unit Labor Costs (QoQ) (Q1), 5.5%, 3.2%
10:30 AM ET Natural Gas Storage, 86B, 79B
11:30 AM ET 4-Week Bill Auction, 3.830%
11:30 AM ET 8-Week Bill Auction, 4.940%
16:30 PM ET Fed’s Balance Sheet, 8,563B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.132T