Dow stocks hitting 52-week highs include Boeing (BA) 232.80 (+8.72%) and Walmart (WMT) 159.74 (+0.36%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to up +96 points.

Wednesday the Dow closed up +82.05 (+0.23%) at 35,520.12.

Year-to-date the Dow is up +7.16%.

Wednesday, (19) 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 Boeing (BA) 232.80 (+8.72%), 3M (MMM) 112.64 (+2.56%) and Home Depot (HD) 329.59 (+1.37%).

The Dow stock losers Wednesday were led by Microsoft (MSFT) 337.77 (-3.76%), Caterpillar (CAT) 258.32 (-1.43%) and Chevron (CVX) 161.34 (-0.75%).

The VIX closed Wednesday at 13.19 (-4.83%) and the 10 YR at 3.873 (+0.65%). The VIX is currently at 12.92 (-2.05%). The 10YR is at 3.910 (+1.61%).

The Dow extends its winning streak to 13 sessions, the most since 1987. If it hits 14 on Thursday, it’ll tie a record that dates back to 1897!

Yesterday the Federal Reserve raised its benchmark rate by a quarter point to its highest point in 22 years. While Fed Chairman Jerome Powell noted that inflation had moderated, he said there was still a ways to go before it’s tamed.

Gross domestic product showed a rise of 2.4% in the second quarter, which was better than the 2% increase expected by economists. The report also suggested price pressures are easing, with the personal consumption expenditures price index rising 2.6% in the second quarter. That’s lower than the 3.2% increase expected by economists, and the 4.1% rise in the prior quarter.

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

The national average price of gasoline is up 2.7 cents at $3.714 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) reported earnings on 7/25/2023 after the market close with $2.69, beating estimates of $2.544per share.

Visa (V) reported earnings on 7/25/2023 after the market close with $2.16, beating estimates of $2.109 per share.

Coca Cola (KO) reported earnings on 7/26/2023 before the market open with $0.78, beating estimates of $0.716 per share.

Boeing (BA) reported earnings on 7/26/2023 before the market open with $-0.82, beating estimates of $-0.986 per share.

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

3M (MMM)

3M (MMM) 112.64 (+2.56%) is down -6.71% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,750K, 1,754K 08:30 AM ET Core Durable Goods Orders (MoM) (Jun), 0.1%, 0.6% 08:30 AM ET Core PCE Prices (Q2), 4.00%, 4.90% 08:30 AM ET Durable Goods Orders (MoM) (Jun), 0.7%, 1.7% 08:30 AM ET Durables Excluding Defense (MoM) (Jun), 0.0%, 3.0% 08:30 AM ET GDP (QoQ) (Q2), 1.7%, 2.0% 08:30 AM ET GDP Price Index (QoQ) (Q2), 3.0%, 4.1% 08:30 AM ET GDP Sales (Q2), 1.2%, 4.2% 08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Jun), -0.1%, 0.7% 08:30 AM ET Goods Trade Balance (Jun), -91.80B, -91.13B 08:30 AM ET Initial Jobless Claims, 235K, 228K 08:30 AM ET Jobless Claims 4-Week Avg., 242.13K, 237.50K 08:30 AM ET PCE Prices (Q2), 4.1% 08:30 AM ET Real Consumer Spending (Q2), 4.2% 08:30 AM ET Retail Inventories Ex Auto (Jun), -0.1% 08:30 AM ET Wholesale Inventories (MoM), -0.3%, 0.0% 10:00 AM ET Pending Home Sales (MoM) (Jun), -0.6%, -2.7% 10:00 AM ET Pending Home Sales Index (Jun), 76.5 10:30 AM ET Natural Gas Storage, 23B, 41B 11:00 AM ET KC Fed Composite Index (Jul), -7, -12 11:00 AM ET KC Fed Manufacturing Index (Jul), -6, -10 11:30 AM ET 4-Week Bill Auction, 5.255% 11:30 AM ET 8-Week Bill Auction, 5.255% 13:00 PM ET 7-Year Note Auction, 3.839% 16:30 PM ET Fed’s Balance Sheet, 8,275B 16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.221T