There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Cisco (CSCO) 53.11 (+0.91%) and JPMorgan (JPM) 158.00 (+1.97%).

The Market

Premarket today, the Dow was indicated to down -29 points.

Monday the Dow closed up +183.55 (+0.52%) at 35,411.25.

Year-to-date the Dow is up +6.83%.

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

The Dow stock winners Monday were led by Goldman Sachs (GS) 358.93 (+1.98%), Chevron (CVX) 161.82 (+1.97%) and JPMorgan (JPM) 158.00 (+1.97%).

The Dow stock losers Monday were led by Merck (MRK) 108.79 (-1.45%), American Express (AXP) 167.79 (-1.43%) and Intel (INTC) 33.63 (-1.15%).

The VIX closed Monday at 13.91 (+2.28%) and the 10 YR at 3.875 (+1.04%). The VIX is currently at 14.02 (+0.79%). The 10YR is at 3.910 (+1.48%).

The Dow notched its eleventh consecutive positive session Monday, leaving it at its highest close since February 2022.

FOMC meeting begins today with Federal Reserve’s policy decision on Wednesday. Fed fund futures data shows a 98% probability of a quarter-point hike.

Home prices fell by a bit less than expected in May as the real estate market attempts to break a prolonged slump. The S&P CoreLogic Case-Shiller index indicated that a composite measure of prices in 20 large U.S. cities fell 1.7% on a 12-month basis, compared to the Dow Jones estimate for a 1.9% decline. However, the 20-city index posted a 1.5% monthly increase, leading an S&P official to say that the sequential decline in prices likely ended in January.

3M (MMM) gained about 2% in premarket trading following the company’s latest earnings report. 3M posted $7.99 billion in revenue, beating analysts’ estimates of $7.87 billion, according to Refinitiv. The company also raised its full-year earnings guidance and reaffirmed its revenue guidance.

Verizon (VZ) traded up +2.6% after reaffirming its full-year guidance. That came despite a mixed second quarter, with Verizon posting $1.21 in earnings per share, excluding items, on $32.6 billion in revenue. Analysts estimated $1.17 earnings per share and revenue of $33.24 billion.

Citi downgraded Goldman Sachs (GS) stock on Tuesday as the firm may have difficulty reaching its long-term targets.

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

The national average price of gasoline is up 4.0 cents at $3.636 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) reported earnings on 7/25/2023 before the market open with $0.68, missing estimates of $0.699 per share.

3M (MMM) reported earnings on 7/25/2023 before the market open with $2.17, beating estimates of $1.648 per share.

Verizon (VZ) reported earnings on 7/25/2023 before the market open with $1.21, beating estimates of $1.17 per share.

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.

Amgen (AMGN) reports earnings on 8/3/2023 after the market close.

Apple (AAPL) reports earnings on 8/3/2023 after the market close.

Today’s Featured Dow Stock

Coca Cola (KO)

Coca Cola (KO) 62.46 (+0.03%) is down -1.81% in 2023.

Financial Calendar

08:55 AM ET Redbook (YoY), -0.2%
09:00 AM ET House Price Index (YoY) (May), 2.6%, 3.1%
09:00 AM ET House Price Index (MoM) (May), 0.2%, 0.7%
09:00 AM ET House Price Index (May), 404.6, 401.2
09:00 AM ET S&P/CS HPI Composite – 20 s.a. (MoM) (May), 1.5%, 0.9%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (MoM) (May), 1.2%, 1.7%
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (YoY) (May), -2.2%, -1.7%
10:00 AM ET CB Consumer Confidence (Jul), 111.5, 109.7
10:00 AM ET Richmond Manufacturing Index (Jul), -10, -7
10:00 AM ET Richmond Manufacturing Shipments (Jul), -5
10:00 AM ET Richmond Services Index (Jul), 9, -3
13:00 PM ET 5-Year Note Auction, 4.019%
16:30 PM ET API Weekly Crude Oil Stock, -0.797M