Dow stocks hitting 52-week highs include Apple (AAPL) 195.10 (+0.71%), Salesforce (CRM) 234.37 (+2.96%) and JPMorgan (JPM) 154.25 (+0.38%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -9 points.

Wednesday the Dow closed up +109.28 (+0.31%) at 35,061.21.

Year-to-date the Dow is up +5.77%.

Wednesday, (21) Dow stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Wednesday were led by Verizon (VZ) 33.97 (+5.27%), Salesforce (CRM) 234.37 (+2.96%) and Cisco (CSCO) 52.43 (+2.32%).

The Dow stock losers Wednesday were led by Boeing (BA) 208.60 (-1.40%), Microsoft (MSFT) 355.08 (-1.23%) and American Express (AXP) 177.12 (-0.52%).

The VIX closed Wednesday at 13.76 (+3.46%) and the 10 YR at 3.750 (+0.29%). The VIX is currently at 14.07 (+2.25%). The 10YR is at 3.814 (+2.01%).

The Dow extended its winning streak to eight sessions Wednesday, its longest tear since 2019.

Johnson & Johnson (JNJ) posted earnings per share and revenue that exceeded analyst expectations. The company also hiked its full-year outlook. Shares rose more than 1% in the premarket.

First-time jobless claims totaled 228,000 for the week ended July 15, a decline of 9,000 from the previous period, according to a Labor Department report. Economists had been expecting 240,000. Continuing claims increased by 33,000 to 1.754 million, more than the 1.73 million estimate.

The Philadelphia Federal Reserve’s manufacturing index registered a -13.5 reading, worse than -10 estimate. The figure represents the difference between companies reporting expansion against contraction, so any negative figure represents a pullback.

IBM (IBM) shares shed 0.8% following its mixed second-quarter earnings report. The company posted revenue of $15.48 billion, missing Wall Street’s forecast of $15.58 billion. IBM reported adjusted earnings of $2.18 per share, which was higher than analysts’ consensus estimate of $2.01 per share.

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

The national average price of gasoline is up 1.1 cents at $3.580 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 6/27/2023 before the market open with $1.00, missing estimates of $1.069 per share.

Nike (NKE) reported earnings on 6/29/2023 after the market close with $0.66, missing estimates of $0.672 per share.

JPMorgan (JPM) reported earnings on 7/14/2023 before the market open with $4.75, beating estimates of $3.615 per share.

UnitedHealth (UNH) reports earnings on 7/14/2023 before the market open with $6.14, beating estimates of $5.921 per share.

Goldman Sachs (GS) reported earnings on 7/19/2023 before the market open with $3.08, missing estimates of $3.245 per share.

IBM (IBM) reported earnings on 7/19/2023 after the market close with $2.18, beating estimates of $2.002 per share.

Johnson & Johnson (JNJ) reported earnings on 7/20/2023 before the market open with $2.80, beating estimates of $2.614 per share.

Travelers (TRV) reported earnings on 7/20/2023 before the market open with $0.06, missing estimates of $2.273 per share.

American Express (AXP) reports earnings on 7/21/2023 before the market open.

Dow (DOW) reports earnings on 7/25/2023 before the market open.

3M (MMM) reports earnings on 7/25/2023 before the market open.

Verizon (VZ) reports earnings on 7/25/2023 before the market open.

Microsoft (MSFT) reports earnings on 7/25/2023 after the market close.

Visa (V) reports earnings on 7/19/2023 after the market close.

Coca Cola (KO) reports earnings on 7/26/2023 before the market open.

Boeing (BA) reports earnings on 7/26/2023 before the market open.

Honeywell (HON) reports earnings on 7/27/2023 before the market open.

McDonald’s (MCD) reports earnings on 7/27/2023 before the market open.

Intel (INTC) reports earnings on 7/27/2023 after the market close.

Chevron (CVX) reports earnings on 7/28/2023 after the market close.

Procter & Gamble (PG) reports earnings on 7/28/2023 after the market close.

Caterpillar (CAT) reports earnings on 8/1/2023 before the market open.

Merck (MRK) reports earnings on 8/1/2023 before the market open.

Today’s Featured Dow Stock

Intel (INTC)

Intel (INTC) 34.46 (-0.12%) is up +30.38% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,730K, 1,729K
08:30 AM ET Initial Jobless Claims, 242K, 237K
08:30 AM ET Jobless Claims 4-Week Avg., 250.01K, 246.75K
08:30 AM ET Philadelphia Fed Manufacturing Index (Jul), -10.4, -13.7
08:30 AM ET Philly Fed Business Conditions (Jul), 10.0, 12.7
08:30 AM ET Philly Fed CAPEX Index (Jul), 6.20, 9.90
08:30 AM ET Philly Fed Employment (Jul), -4.5, -0.4
08:30 AM ET Philly Fed New Orders (Jul), -10.0, -11.0
08:30 AM ET Philly Fed Prices Paid (Jul), 10.70, 10.50
10:00 AM ET Existing Home Sales (Jun), 4.21M, 4.30M
10:00 AM ET Existing Home Sales (MoM) (Jun), 0.2%
10:00 AM ET US Leading Index (MoM) (Jun), -0.6%, -0.7%
10:30 AM ET Natural Gas Storage, 40B, 49B
11:30 AM ET 4-Week Bill Auction, 5.210%
11:30 AM ET 8-Week Bill Auction, 5.230%
13:00 PM ET 10-Year TIPS Auction, 1.395%
16:30 PM ET Fed’s Balance Sheet, 8,297B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.162T