The Dow Market Happenings For Monday, May 15, 2023 – Boeing (BA) 200.70 Up +5.36% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include 3M (MMM) 100.27 (-0.51%).

The Market

Premarket today, the Dow was indicated to open up +26 points.

Friday the Dow closed down -8.89 (-0.03%) at 33,300.62.

Year-to-date the Dow is up +0.46%.

Friday, (6) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Friday were led by IBM (IBM) 122.84 (+1.60%), Procter & Gamble (PG) 155.96 (+1.02%) and Home Depot (HD) 290.47 (+0.97%).

The Dow stock losers Friday were led by Nike (NKE) 120.21 (-1.64%), JPMorgan (JPM)134.10 (-1.43%) and Salesforce (CRM) 201.81 (-0.82%).

The VIX closed Friday at 17.03 (+0.59%) and the 10 YR at 3.466 (+2.21%). The VIX is currently at 17.65 (+3.64%). The 10YR is at 3.491 (+0.98%).

The Dow Jones Industrial Average has fallen for two straight weeks now. Hopefully we will get a rise this week.

Treasury Secretary Janet Yellen said over the weekend negotiations were making progress on a debt ceiling deal. “I’m hopeful. I think the negotiations are very active. I’m told they have found some areas of agreement,” said Yellen on Saturday from Japan during a meeting of G-7 finance ministers. President Joe Biden and House Speaker Kevin McCarthy are expected to meet early this week, CNBC has reported. The Treasury Department said the U.S. may not be able to meet its financial obligations as early as June 1.

Manufacturing activity in the New York area collapsed in May, with new orders and shipments dropping while prices increased, according to the Federal Reserve. The Empire State Manufacturing survey fell 43 points from April to a reading of -31.8, below an estimate of -5. The index represents the level of companies reporting expansion against contraction. New orders fell 53 points while shipments tumbled more than 40 points. Prices paid edged higher while prices received were little changed and the employment index rose, though was still in negative territory at -3.3.

Home Depot (HD) and Walmart (WMT) report earnings this week (see earnings section below).

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

The national average price of gasoline is up one-tenth of a cent at $3.535 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) reported earnings on 5/10/23 after the market close with $0.93, beating estimates of $0.893 per share.

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

Boeing (BA)

Boeing (BA) 200.70 (-0.56%) is up +5.36% in 2023.

Financial Calendar

08:30 AM ET NY Empire State Manufacturing Index (May), -2.50, 10.80
09:15 AM ET FOMC Member Kashkari Speaks
11:30 AM ET 3-Month Bill Auction
11:30 AM ET 6-Month Bill Auction
16:00 AM ET US Foreign Buying, T-bonds (Mar), 55.60B
16:00 AM ET Overall Net Capital Flow (Mar), 28.00B
16:00 AM ET TIC Net Long-Term Transactions (Mar), 71.0B
16:00 AM ET TIC Net Long-Term Transactions including Swaps (Mar), 72.20B

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