The Dow Market Happenings For Friday, July 21, 2023 – Johnson & Johnson (JNJ) 168.38 Down -4.68% YTD

Dow stocks hitting 52-week highs include Cisco (CSCO) 52.37 (-0.11%) and JPMorgan (JPM) 156.15 (+1.23%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open +107 points.

Thursday the Dow closed up +163.97 (+0.47%) at 35,225.18.

Year-to-date the Dow is up +6.27%.

Thursday, (18) Dow stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Thursday were led by Johnson & Johnson (JNJ) 168.38 (+6.07%), Goldman Sachs (GS) 350.86 (+3.03%) and Boeing (BA) 2213.61 (+2.40%).

The Dow stock losers Thursday were led by Intel (INTC) 33.37 (-3.16%), Salesforce (CRM) 228.16 (-2.65%) and Microsoft (MSFT) 346.87 (-2.31%).

The VIX closed Thursday at 13.99 (+1.67%) and the 10 YR at 3.839 (-0.34%). The VIX is currently at 13.74 (-1.79%). The 10YR is at 3.816 (-0.93%).

The Dow Jones Industrial Average rose for the ninth straight day Thursday, its longest win streak since September 2017. Maybe we get the tenth today? That last happened Aug. 7, 2017. The Dow ended 2017 up +25.08%.

Existing home sales were down 3.3% in June from the previous month, according to the National Association of Realtors, stamping another tough month for the housing market. Compared with June 2022, sales of pre-owned homes were down 18.9%, the slowest sales pace for the month of June since 2009. The squeeze comes down to a shortage of supply. At the end of the month, there were just 1.08 million homes for sale, 13.6% lower than June of last year.

American Express (AXP) slid 3% after posting smaller-than-expected revenue for the previous quarter, even as earnings per share beat expectations. The company reported second-quarter earnings of $2.89 per share on revenue of $15.05 billion. Analysts had expected per-share earnings of $2.81 on revenue of $15.48 billion.

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

The national average price of gasoline is up seven-tenths of a cent at $3.587 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 with $2.88, beating estimates of $2.801 per share.

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

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) 168.38 (+6.07%) is down -4.68% in 2023.

Financial Calendar

13:00 PM ET U.S. Baker Hughes Oil Rig Count, 537
13:00 PM ET U.S. Baker Hughes Total Rig Count, 675
16:30 PM ET CFTC Aluminium speculative net positions, 6.2K
16:30 PM ET CFTC Copper speculative net positions, -11.2K
16:30 PM ET CFTC Corn speculative net positions, 7.8K
16:30 PM ET CFTC Crude Oil speculative net positions, 173.4K
16:30 PM ET CFTC Gold speculative net positions, 165.8K
16:30 PM ET CFTC Nasdaq 100 speculative net positions, 10.9K
16:30 PM ET CFTC Natural Gas speculative net positions, -86.8K
16:30 PM ET CFTC S&P 500 speculative net positions, -209.0K
16:30 PM ET CFTC Silver speculative net positions, 20.3K
16:30 PM ET CFTC Soybeans speculative net positions, 90.9K
16:30 PM ET CFTC Wheat speculative net positions, -40.4K

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