There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +39 points.

Wednesday the Dow closed down -180.65 (-0.52%) at 34,765.74.

Year-to-date the Dow is up +4.88%.

Wednesday, (6) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Travelers (TRV) 165.37 (+1.16%), Home Depot (HD) 333.03 (+0.27%) and Merck (MRK) 108.73 +0.06%).

The Dow stock losers Wednesday were led by Intel (INTC) 33.53 (-3.57%), Walgreens (WBA) 28.19 (-1.43%) and Caterpillar (CAT) 274.51 (-1.03%).

The VIX closed Wednesday at 16.78 (+1.94%) and the 10 YR at 4.284 (+0.68%). The VIX is currently at 16.57 (-1.25%). The 10YR is at 4.278 (+0.54%).

The Federal Reserve released minutes from its latest meeting in July that showed officials are still concerned about the pace of inflation. Fed members also noted that more rate hikes could be coming unless conditions change. The Fed raised rates by a quarter percentage point at its July meeting, bringing the federal funds rate to the highest level in more than 22 years. The minutes also showed uncertainty among members, however, with some saying they thought the committee could skip a hike and see how previous efforts were affecting the economy.

This morning Walmart (WMT) raised its full-year forecast when it released its second-quarter earnings which topped analysts’ expectations for sales and profits.

Cisco (CSCO) is higher before the bell on a better-than-expected quarterly earnings report yesterday after the close. The company posted adjusted earnings of $1.14 per share, while analysts had forecast $1.06 per share. Revenue came out to $15.2 billion, exceeding expectations of $15.05 billion.

Initial filings for jobless claims fell last week about in line with expectations, the Labor Department reported Thursday. New claims totaled 239,000 for the week ended Aug. 12, down 11,000 from the previous period and just under the estimate for 240,000. Continuing claims, which run a week behind, rose to 1.716 million, an increase of 32,000 and above the estimate for 1.7 million.

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

The national average price of gasoline is up two-tenths of a cent at $3.875 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) reported earnings on 8/9/2023 after the market close with $1.03, beating estimates of $0.985 per share.

Home Depot (HD) reported earnings on 8/15/2023 before the market open with $4.65, beating estimates of $4.457 per share.

Cisco (CSCO) reported earnings on 8/16/2023 after the market close with $1.14, beating estimates of $0.948 per share.

Walmart (WMT) reported earnings on 8/17/2023 before the market open with $1.84, beating estimates of $1.692 per share.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 274.51 (-1.03%) is up +14.59% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,700K, 1,684K
08:30 AM ET Initial Jobless Claims, 240K, 248K
08:30 AM ET Jobless Claims 4-Week Avg., 229.63K, 231.00K
08:30 AM ET Philadelphia Fed Manufacturing Index (Aug), -10.0, -13.5
08:30 AM ET Philly Fed Business Conditions (Aug), 31.6, 29.1
08:30 AM ET Philly Fed CAPEX Index (Aug), 9.20, 8.60
08:30 AM ET Philly Fed Employment (Aug), -0.7, -1.0
08:30 AM ET Philly Fed New Orders (Aug), -13.5, -15.9
08:30 AM ET Philly Fed Prices Paid (Aug), 10.10, 9.50
10:00 AM ET US Leading Index (MoM) (Jul), -0.4%, -0.7%
10:30 AM ET Natural Gas Storage, 34B, 29B
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.280%
16:30 PM ET Fed’s Balance Sheet, 8,208B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.229T