DJIA Market Happenings For Monday, May 22, 2023 – Disney (DIS) 91.35 Up +5.15% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 175.16 (+0.06%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +2 points.

Friday the Dow closed down -109.28 (-0.33%) at 33,426.63.

Year-to-date the Dow is up +0.84%.

Friday, (20) Dow stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Friday were led by Cisco (CSCO) 49.13 (+1.93%), Merck (MRK) 115.49 (+1.31%) and IBM (IBM) 127.26 (+0.88%).

The Dow stock losers Friday were led by Nike (NKE) 114.76 (-3.46%), Disney (DIS) 91.35 (-2.57%) and Home Depot (HD) 290.88 (-1.45%).

The VIX closed Friday at 16.81 (+4.74%) and the 10 YR at 3.678 (+0.88%). The VIX is currently at 17.13 (+1.90%). The 10YR is at 3.692 (+0.03%).

Wednesday we get the minutes from the last Federal Reserve meeting, which could illuminate future interest rate policy. Thursday the government will offer a second read on first-quarter GDP. Friday we get the personal consumption expenditures price index, a key inflation gauge the Fed watches closely while making its interest rate decisions.

President Joe Biden and House Speaker Kevin McCarthy, R-Calif., are set to meet Monday to continue negotiations. Treasury Secretary Janet Yellen has said the U.S. could default on its debt as early as June 1.

Fed Chairman Jerome Powell on Friday indicated that stresses in the banking system could slow economic growth and reduce the need for higher interest rates.

Apple (AAPL) shares slipped about 1% premarket after Loop Capital downgraded Appleā€™s stock to hold from buy. Loop predicts that the iPhone maker will fall short of its June quarterly revenue guidance, the firm said in a note Monday.

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

The national average price of gasoline is up one-tenth of a cent at $3.540 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) reported earnings on 5/16/23 before the market open with $3.82, beating estimates of $3.80 per share.

Cisco (CSCO) reported earnings on 5/17/23 after the market close with $1.00, beating estimates of $0.865 per share.

Walmart (WMT) reported earnings on 5/18/23 before the market open with $1.47, beating estimates of $1.321 per share.

Salesforce (CRM) reports earnings on 5/31/23 after the market close.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 91.35 (-2.57%) is up +5.15% in 2023.

Financial Calendar

08:30 AM ET FOMC Member Bullard Speaks
10:50 AM ET FOMC Member Barkin Speaks
10:50 AM ET FOMC Member Bostic Speaks
11:30 AM ET 3-Month Bill Auction, 5.060%
11:30 AM ET 6-Month Bill Auction, 4.980%

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