DJIA Market Happenings For Friday, December 29, 2023 – Chevron (CVX) 149.77 Down -16.56% YTD

Dow stocks hitting 52-week highs include Amgen (AMGN) 288.46 (+0.67%), American Express (AXP) 187.80 (+0.40%), Caterpillar (CAT) 296.88 (-0.42%), Goldman Sachs (GS) 386.41 (+0.50%) and JPMorgan (JPM) 170.30 (+0.53%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -12 points.

Thursday the Dow closed up +53.58 (+0.14%) at 37,710.10.

Year-to-date the Dow is up +13.77%.

Thursday, (20) Dow stocks were up, none were at 52-week lows and (5) were at 52-week highs.

The Dow stock winners Thursday were led by Nike (NKE) 108.82 (+1.58%), 3M (MMM) 109.69 (+0.87%) and Merck (MRK) 108.77 (+0.73%).

The Dow stock losers Thursday were led by Chevron (CVX) 149.77 (-1.41%), Dow (DOW) 55.23 (-0.86%) and Intel (INTC) 50.39 (-0.73%).

The VIX closed Thursday at 12.47 (+0.32%) and the 10 YR at 3.836 (-0.10%). The VIX is currently at 12.61 (+1.12%). The 10YR is at 3.900 (+1.35%).

We have arrived at the final trading day of 2023.

With the Federal Reserve signaling it is likely done with rate hikes and could even cut rates multiple times next year, the 10-year Treasury yield dove from above 5% in late October to less than 3.9% on Thursday.

Gains of 10% or more in the final two months of a year (which we have had) is historically a signal that there is more room to run for stocks. How much, we don’t know, but am hoping it’s a bunch.

Dow Futures are currently little changed.

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

The national average price of gasoline is down one-tenth of a cent at $3.120 per gallon.

Earnings Reports

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

Nike (NKE) reported earnings on 12/21/23 after the close with $1.03, beating estimates of $0.839 per share.

Walgreens (WBA) reports earnings on 1/4/24 before the open.

IBM (IBM) reports earnings on 1/12/24 before the open.

JPMorgan (JPM) reports earnings on 1/12/24 before the open.

UnitedHealth (UNH) reports earnings on 1/12/24 before the open.

Goldman Sachs (GS) reports earnings on 1/16/24 before the open.

Travelers (TRV) reports earnings on 1/19/24 before the open.

3M (MMM) reports earnings on 1/23/24 before the open.

Johnson & Johnson (JNJ) reports earnings on 1/23/24 before the open.

Procter & Gamble (PG) reports earnings on 1/23/24 before the open.

Verizon (VZ) reports earnings on 1/23/24 before the open.

Microsoft (MSFT) reports earnings on 1/23/24 after the close.

Visa (V) reports earnings on 1/23/24 after the close.

Boeing (BA) reports earnings on 1/24/24 before the open.

Dow (DOW) reports earnings on 1/25/24 before the open.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 149.77 (-1.41%) is down -16.56% in 2023.

Financial Calendar

09:45 AM ET Chicago PMI (Dec), 51.0, 55.8
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 498
13:00 PM ET U.S. Baker Hughes Total Rig Count, 620
15:30 PM ET CFTC Aluminium speculative net positions, 5.8K
15:30 PM ET CFTC Copper speculative net positions, 5.6K
15:30 PM ET CFTC Corn speculative net positions, -127.6K
15:30 PM ET CFTC Crude Oil speculative net positions, 182.7K
15:30 PM ET CFTC Gold speculative net positions, 201.3K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 22.2K
15:30 PM ET CFTC Natural Gas speculative net positions, -106.5K
15:30 PM ET CFTC S&P 500 speculative net positions, -195.4K
15:30 PM ET CFTC Silver speculative net positions, 29.8K
15:30 PM ET CFTC Soybeans speculative net positions, 2.0K
15:30 PM ET CFTC Wheat speculative net positions, -37.0K

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