DJIA Market Happenings For Thursday, November 30, 2023 – Coca Cola (KO) 58.23 Down -8.46% YTD

Dow stocks hitting 52-week highs include IBM (IBM) 156.41 (+0.49%), Intel (INTC) 44.94 (+1.61%), Microsoft (MSFT) 378.85 (-1.01%) and Visa (V) 254.23 (+0.51%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +211 points.

Wednesday the Dow closed up +13.44 (+0.04%) at 35,430.42.

Year-to-date the Dow is up +6.89%.

Wednesday, (22) Dow stocks were up, (1) was at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by Salesforce (CRM) 230.35 (+2.41%), Intel (INTC) 44.94 (+1.61%) and Goldman Sachs (GS) 340.206 (+1.60%).

The Dow stock losers Wednesday were led by Walmart (WMT) 156.08 (-1.61%), Chevron (CVX) 143.91 (-1.10%) and UnitedHealth (UNH) 534.98 (-1.03%).

The VIX closed Wednesday at 12.98 (+2.29%) and the 10 YR at 4.313 (-0.12%). The VIX is currently at 13.07 (+0.54%). The 10YR is at 4.313 (+0.042%).

The personal consumption expenditures price index (PCE), the Federal Reserve’s favorite inflation gauge, rose in line with expectations in October, gaining 0.2% for the month and 3.5% on a year-over-year basis. The numbers could provide an incentive for the Fed to hold rates steady, before lowering them in 2024.

Salesforce (CRM) popped more than 9% after the cloud software company reported fiscal third-quarter earnings that beat analysts’ expectations. The company posted adjusted earnings of $2.11 per share on $8.72 billion in revenue. Salesforce also shared stronger-than-expected guidance for its fiscal fourth quarter.

Initial jobless claims for the week ended Nov. 25 rose by 7K to 218K, compared with the 219K expected and 211K prior (revised from 209K). The four-week moving average was 220K, a decrease of 500 from the prior week’s 220,500 (revised from 220,000). Continuing claims were 1.927M vs. 1.841M prior. The advance seasonally adjusted insured unemployment rate was 1.3% for the week ended Nov. 25, from the earlier week’s revised rate, the Department of Labor said Wednesday. Advance number of actual initial claims under state programs on an unadjusted basis were 198,843 in the week ended Nov. 25, a decrease of 42,136, or 17.5%, from the prior week. Seasonal factors expected a decrease of 48,111, or 10%, from the previous week.

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

The national average price of gasoline is unchanged at $3.246 per gallon.

Earnings Reports

Salesforce (CRM) reported earnings 11/29/23 after the close with $2.11, beating estimates of $1.512 per share.

Today’s Featured Dow Stock

Coca Cola (KO)

Coca Cola (KO) 58.23 (-0.60%) is down -8.46% in 2023.

Financial Calendar

05:00 AM ET OPEC Meeting
08:30 AM ET Continuing Jobless Claims, 1,855K, 1,840K
08:30 AM ET Core PCE Price Index (YoY) (Oct), 3.5%, 3.7%
08:30 AM ET Core PCE Price Index (MoM) (Oct), 0.2%, 0.3%
08:30 AM ET Initial Jobless Claims, 218K, 209K
08:30 AM ET Jobless Claims 4-Week Avg., 220.00K
08:30 AM ET PCE price index (MoM) (Oct), 0.1%, 0.4%
08:30 AM ET PCE Price index (YoY) (Oct), 3.1%, 3.4%
08:30 AM ET Personal Income (MoM) (Oct), 0.2%, 0.3%
08:30 AM ET Personal Spending (MoM) (Oct), 0.2%, 0.7%
08:30 AM ET Real Personal Consumption (MoM) (Oct), 0.4%
09:05 AM ET FOMC Member Williams Speaks
09:45 AM ET Chicago PMI (Nov), 45.0, 44.0
10:00 AM ET Pending Home Sales (MoM) (Oct), -1.5%, 1.1%
10:00 AM ET Pending Home Sales Index (Oct), 72.6
10:30 AM ET Natural Gas Storage, -12B, -7B
10:50 AM ET Dallas Fed PCE (Oct), 4.00%
11:30 AM ET 4-Week Bill Auction, 5.300%
11:30 AM ET 8-Week Bill Auction, 5.280%
16:30 PM ET Fed’s Balance Sheet, 7,811B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.455T

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