The Dow Market Happenings For Tuesday, May 9, 2023 – Walmart (WMT) 152.72 Up +7.71% YTD

Dow stocks hitting 52-week highs include Salesforce (CRM) 197.90 (+0.16%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -76 points.

Monday the Dow closed down -55.69 (-0.17%) at 33,618.69.

Year-to-date the Dow is up +1.42%.

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

The Dow stock winners Monday were led by Disney (DIS) 102.97 (+2.44%), Walmart (WMT) 152.72 (+0.63%) and Merck (MRK) 118.38 (+0.59%).

The Dow stock losers Monday were led by Walgreens (WBA) 31.66 (-1.59%), 3M (MMM) 102.34 (-0.98%) and Amgen (AMGN) 234.62 (-0.81%).

The VIX closed Monday at 16.98 (-1.22%) and the 10 YR at 3.496 (-0.34%). The VIX is currently at 17.60 (+3.65%). The 10YR is at 3.505 (+-0.09%).

Two big inflation data points are coming this week, the latest consumer price index set for release Wednesday and the producer price index slated for Thursday.

The battle over the debt limit enters a new stage Tuesday as leaders in Washington work to avoid the first sovereign debt default in U.S. history, as well as the ensuing “financial chaos,” to use Treasury Secretary Janet Yellen’s words. President Joe Biden is scheduled to meet with the top four lawmakers in Congress: Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, both New York Democrats; and House Speaker Kevin McCarthy, R-Calif., and Senate Minority Leader Mitch McConnell, R-Ky. Biden is expected to stick to his stance that the debt ceiling should be raised cleanly, without any corresponding spending cuts. The president, however, is open to discussing Republicans’ push for spending cuts as a separate matter. The Treasury Department has warned the U.S. could run out of money to pay its bills as soon as June 1.

Hopefully we get good news on CPI, PPI and the Debt Ceiling.

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

The national average price of gasoline is down 1.1 cents at $3.526 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

Walmart (WMT)

Walmart (WMT) 152.72 (+0.63%) is up +7.71% in 2023.

Financial Calendar

08:30 AM ET Fed Governor Jefferson Speaks
08:55 AM ET Redbook (YoY), 1.3%
10:00 AM ET IBD/TIPP Economic Optimism, 48.2, 47.4
12:00 PM ET EIA Short-Term Energy Outlook
12:05 PM ET FOMC Member Williams Speaks
13:00 PM ET 3-Year Note Auction, 3.810%
16:30 PM ET API Weekly Crude Oil Stock, -3.939M

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