Dow stocks hitting 52-week highs include Walmart (WMT) 160.49 (+1.36%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -260 points.

Monday the Dow closed up +407.51 (+1.16%) at 35,473.13.

Year-to-date the Dow is up +7.02%.

Monday, (27) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Monday were led by Amgen (AMGN) 252.94 (+3.97%), Boeing (BA) 238.25 (+2.98%) and Johnson & Johnson (JNJ) 173.10 (+2.40%).

The Dow stock losers Monday were Apple (AAPL) 178.85 (-1.73%), Verizon (VZ) 32.53 (-0.28%) and 3M (MMM) 105.23 (-0.27%).

The VIX closed Monday at 15.77 (-7.78%) and the 10 YR at 4.048 (-0.47%). The VIX is currently at 17.00 (+7.80%). The 10YR is at 4.006 (-1.50%).

Looks like markets are down this morning because ratings agency Moody’s cut the credit ratings of several small and mid-sized U.S. banks late Monday, the latest step in a wave of concerns about U.S. banks. It also placed major lenders Bank of New York Mellon, U.S. Bancorp, State Street, Trust Financial, Cullen/Frost Bankers and Northern Trust under review for a potential downgrade. Moody’s changed its outlook to negative for 11 banks, including Capital One, Citizens Financial and Fifth Third Bancorp. The agency warned that banks with certain conditions might still be susceptible to sudden market losses or lower consumer confidence in a high interest rate environment.

Goldman Sachs (GS) and JPMorgan Chase (JPM) traded about 1% lower in the premarket.

Investors are looking ahead to July’s consumer price index report, out Thursday. The inflation metric could put Wall Street’s belief in a soft landing to the test. Economists are calling for a monthly increase of 0.2% in July and a year-over-year rise of 3.3%.

Amgen (AMGN) gained nearly 4% gain on Monday and helped lift the Dow Jones Industrial Average and also put the pharmaceutical giant’s shares over an important level. Monday’s close marked the first time Amgen closed above its 200-day moving average since April 6. The stock also had the greatest positive point impact on the 30-stock index, accounting for nearly 64 positive Dow points. The 200-day moving average has a special meaning for chart technicians as it can give some insight into whether the stock is heading into an uptrend or a downtrend. In this case, Amgen’s close above that threshold could be a positive sign.

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

The national average price of gasoline is down five-tenths of a cent at $3.824 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) reported earnings on 7/27/2023 before the market open with $2.23, beating estimates of $2.201 per share.

McDonald’s (MCD) reported earnings on 7/27/2023 before the market open with $3.17, beating estimates of $2.772 per share.

Intel (INTC) reported earnings on 7/27/2023 after the market close with $0.13, beating estimates of $-0.189 per share.

Chevron (CVX) reports earnings on 7/28/2023 after the market close with $3.08, beating estimates of $2.95 per share.

Procter & Gamble (PG) reports earnings on 7/28/2023 after the market close with $1.37, beating estimates of $1.321 per share.

Caterpillar (CAT) reported earnings on 8/1/2023 before the market open with $5.55, beating estimates of $4.513 per share.

Merck (MRK) reported earnings on 8/1/2023 before the market open with $-2.06, beating estimates of $-2.165 per share.

Amgen (AMGN) reported earnings on 8/3/2023 after the market close with $5.00, beating estimates of $4.436 per share.

Apple (AAPL) reported earnings on 8/3/2023 after the market close with $1.26, beating estimates of $1.188 per share.

Disney (DIS) reports earnings on 8/9/2023 after the market close.

Home Depot (HD) reports earnings on 8/15/2023 before the market open.

Cisco (CSCO) reports earnings on 8/16/2023 after the market close.

Walmart (WMT) reports earnings on 8/17/2023 before the market open.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 32.53 (-0.28%) is down -17.47% in 2023.

Financial Calendar

08:15 AM ET FOMC Member Harker Speaks
08:30 AM ET Exports, 247.10B
08:30 AM ET FOMC Member Barkin Speaks
08:30 AM ET Imports, 316.10B
08:30 AM ET Trade Balance (Jun), -65.00B, -69.00B
08:55 AM ET Redbook (YoY), 0.1%
10:00 AM ET IBD/TIPP Economic Optimism, 43.0, 41.3
10:00 AM ET Wholesale Inventories (MoM) (Jun), -0.3%, -0.3%
10:00 AM ET Wholesale Trade Sales (MoM) (Jun), 0.3%, -0.2%
11:30 AM ET 52-Week Bill Auction, 5.130%
12:00 PM ET EIA Short-Term Energy Outlook
13:00 PM ET 3-Year Note Auction, 4.534%
16:30 PM ET API Weekly Crude Oil Stock, -15.400M