DJIA Market Happenings For Monday, May 8, 2023 – Walgreens (WBA) 32.17 Down -13.89% YTD

Dow stocks hitting 52-week highs include Microsoft (MSFT) 310.65 (+1.72%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +73 points.

Friday the Dow closed up 546.64 (+1.65%) at 33,674.38.

Year-to-date the Dow is up +1.59%.

Friday, (29) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Friday were led by Apple (AAPL) 173.57 (+4.69%), Disney (DIS) 100.52 (+3.15%), Visa (V) 231.78 (+2.74%), Salesforce (CRM) 197.59 (+2.71%) and American Express (AXP) 152.65 (+2.58%).

The lone Dow stock loser Friday was Intel (INTC) 30.99 (-0.80%).

The VIX closed Friday at 17.19 (-14.44%) and the 10 YR at 3.422 (+2.55%). The VIX is currently at 17.59 (+2.33%). The 10YR is at 3.491 (+1.72%).

This week we get the consumer price index Wednesday and the producer price index on Thursday.

The coming days could prove pivotal for efforts in Washington to raise the debt ceiling and prevent a first-ever default on U.S. sovereign debt. President Joe Biden will meet Tuesday with the top four congressional leaders as lawmakers try to break a stalemate over how to increase the borrowing limit. Treasury Secretary Janet Yellen warned Sunday that a “steep economic downturn” would follow if Congress fails to act in the next few weeks. The Treasury Department has estimated the U.S. could run out of money to pay its bills as soon as early June.

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

The national average price of gasoline is down three-tenths of a cent at $3.537 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) reported earnings on 5/4/23 after the market close with $1.52, beating estimates of $1.438 per share.

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

Home Depot (HD) reports earnings on 5/16/23 before the market open.

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

Walgreens (WBA)

Walgreens (WBA) 32.17 (+1.97%) is down -13.89% in 2023.

Financial Calendar

10:00 AM ET CB Employment Trends Index (Apr), 116.24
10:00 AM ET Wholesale Inventories (MoM) (Mar), 0.1%, 0.1%
10:00 AM ET Wholesale Trade Sales (MoM) (Mar), 0.4%
11:00 AM ET 3-Month Bill Auction, 5.120%
11:00 AM ET 6-Month Bill Auction, 4.900%
11:00 AM ET Consumer Inflation Expectations, 4.7%

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