There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Goldman Sachs (GS) 296.76 (-0.81%) and Honeywell (HON) 178.09 (-1.86%).

The Market

Premarket today, the Dow was indicated to be up +15 points.

Wednesday the Dow closed down -105.45 (-0.32%) at 33,035.93.

Year-to-date the Dow is down -0.34%.

Wednesday, (10) Dow stocks were up, (2) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Travelers (TRV) 164.73 (+4.31%), Microsoft (MSFT) 340.67 (+3.07%) and Walgreens (WBA) 21.67 (+1.40%).

The Dow stock losers Wednesday were led by Intel (INTC) 32.83 (-5.09%), Salesforce (CRM) 197.06 (-3.51%) and Dow (DOW) 47.54 (-3.45%).

The VIX closed Wednesday at 20.19 (+6.43%) and the 10 YR at 4.959 (-0.10%). The VIX is currently at 20.69 (+2.48%). The 10YR is at 4.910 (-0.79%).

Gross domestic product, a measure of all goods and services produced in the U.S., rose at a seasonally adjusted 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday. Economists had been looking for a 4.7% acceleration in GDP, which also is adjusted for inflation. The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment and government spending. Consumer spending, as measured by personal consumption expenditures, increased 4% for the quarter after rising just 0.8% in Q2. Gross private domestic investment surged 8.4% and government spending and investment jumped 4.6%. Spending at the consumer level split fairly evenly between goods and services, with the two measures up 4.8% and 3.6%, respectively. The GDP increase marked the biggest gain since the fourth quarter of 2021.

Merck (MRK) reported third-quarter earnings and revenue that exceeded expectations, boosted by sales of two key drugs and a vaccine. The company earned an adjusted $2.13 per share on revenue of $15.96 billion. Analysts expected a profit of $1.95 per share on revenue of $15.32 billion. Sales from cancer treatment Keytruda grew by 17% year over year to $6.34 billion. Revenue from Lagevrio, a Covid-19 antiviral treatment, shot up 47% to $640 million. Gardasil, a vaccine used to prevent cancer from HPV, hauled in $2.59 billion in sales, up 13% from the year-earlier period.

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

The national average price of gasoline is down one cent at $3.531 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 9/28/23 after the market close with $0.94, beating estimates of $0.739 per share.

Walgreens (WBA) reported earnings on 10/12/23 before the market open with $0.67, beating estimates of $0.682.

JPMorgan (JPM) reported earnings on 10/13/23 before the market open with $4.33, beating estimates of $3.96 per share.

UnitedHealth (UNH) reported earnings on 10/13/23 before the market open with $6.56, beating estimates of $6.327 per share.

Goldman Sachs (GS) reported earnings on 10/17/23 before the market open with $5.47, beating estimates of $5.31 per share.

Johnson & Johnson (JNJ) reported earnings on 10/17/23 before the market open with $2.66, beating estimates of $2.524 per share.

Travelers (TRV) reports earnings on 10/18/23 before the market open with $1.95, missing estimates of $2.932 per share.

Procter & Gamble (PG) reports earnings on 10/18/23 before the market open with $1.83, beating estimates of $1.71per share.

American Express (AXP) reported earnings on 10/20/23 before the market open with $3.30, missing estimates of $2.961 per share.

3M (MMM) reported earnings on 10/24/23 before the market open with $2.68, beating estimates of $2.335 per share.

Coca Cola (KO) reported earnings on 10/24/23 before the market open with $0.74, beating estimates of $0.687 per share.

Dow (DOW) reported earnings on 10/24/23 before the market open with $0.48, beating estimates of $0.435 per share.

Verizon (VZ) reported earnings on 10/24/23 before the market open with $1.22, beating estimates of $1.174 per share.

Microsoft (MSFT) reported earnings on 10/24/23 after the market close with $2.99, beating estimates of $2.65 per share.

Visa (v) reported earnings on 10/24/23 after the market close with $2.33, beating estimates of $2.233 per share.

Boeing (BA) reported earnings on 10/25/23 before the market open with -$3.26, missing estimates of -$3.205 per share.

IBM (IBM) reported earnings on 10/25/23 after the market close with $2.20, beating estimates of $2.12 per share.

Caterpillar (CAT) reports earnings on 10/26/23 before the market open.

Honeywell (HON) reports earnings on 10/26/23 before the market open.

Merck (MRK) reports earnings on 10/26/23 before the market open.

Intel (INTC) reports earnings on 10/26/23 after the market close.

Chevron (CVX) reports earnings on 10/27/23 before the market open.

McDonald’s (MCD) reports earnings on 10/30/23 before the market open.

Amgen (AMGN) reports earnings on 10/31/23 before the market open.

Caterpillar (CAT) reports earnings on 10/31/23 before the market open.

Apple (AAPL) reports earnings on 11/2/23 after the market close.

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) 150.60 (+0.47%) is down -0.63% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,720K, 1,734K 08:30 AM ET Core Durable Goods Orders (MoM) (Sep), 0.2%, 0.4% 08:30 AM ET Core PCE Prices (Q3), 2.50%, 3.70% 08:30 AM ET Durable Goods Orders (MoM) (Sep), 1.5%, 0.2% 08:30 AM ET Durables Excluding Defense (MoM) (Sep), -0.7% 08:30 AM ET GDP (QoQ) (Q3), 4.2%, 2.1% 08:30 AM ET GDP Price Index (QoQ) (Q3), 2.5%, 1.7% 08:30 AM ET GDP Sales (Q3), 2.1% 08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Sep), 0.3%, 0.9% 08:30 AM ET Goods Trade Balance (Sep), -85.50B, -84.64B 08:30 AM ET Initial Jobless Claims, 209K, 198K 08:30 AM ET Jobless Claims 4-Week Avg., 205.75K 08:30 AM ET PCE Prices (Q3), 2.5% 08:30 AM ET Real Consumer Spending (Q3), 0.8% 08:30 AM ET Retail Inventories Ex Auto (Sep), 0.5% 08:30 AM ET Wholesale Inventories (MoM), 0.1%, -0.1% 09:00 AM ET Fed Waller Speaks 10:00 AM ET Pending Home Sales (MoM) (Sep), -1.3%, -7.1% 10:00 AM ET Pending Home Sales Index (Sep), 71.8 10:30 AM ET Natural Gas Storage, 97B 11:00 AM ET KC Fed Composite Index (Oct), -8 11:00 AM ET KC Fed Manufacturing Index (Oct), -13 11:30 AM ET 4-Week Bill Auction, 5.305% 11:30 AM ET 8-Week Bill Auction, 5.325% 13:00 PM ET 7-Year Note Auction, 4.673% 16:30 PM ET Fed’s Balance Sheet, 7,933B 16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.250T