The Dow Market Happenings For Tuesday, January 2, 2024 – Disney (DIS) 90.29 Up +3.93% In 2023

Dow stocks hitting 52-week highs include American Express (AXP) 187.34 (-0.24%) and JPMorgan (JPM) 170.10 (-.12%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -216 points.

Friday the Dow closed down -20.56 (-0.05%) at 37,689.54.

Year-to-date the Dow is up +13.70% (2023 final).

Friday, (13) Dow stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Friday were led by Travelers (TRV) 190.49 (+0.61%), Verizon (VZ) 37.70 (+0.56%) and Procter & Gamble (PG) 146.54 (+0.56%).

The Dow stock losers Friday were led by Walgreens (WBA) 26.11 (-1.84%), Salesforce (CRM) 263.14 (-0.92%) and Dow (DOW) 54.84 (-0.71%).

The VIX closed Friday at 12.45 (-0.16%) and the 10 YR at 3.884 (+1.15%). The VIX is currently at 13.91 (+11.73%). The 10YR is at 3.863 (+0.03%).

For the final, shortened trading week of 2023, the Dow Jones Industrial Average rose 0.8%.

U.S. crude oil posted its first down year since 2020, shedding 10% in 2023 as worries mounted about the potential for oversupply. The West Texas Intermediate was down 10.73% on the year, and Brent lost 10.32%. Despite ongoing geopolitical risk due to war in the Middle East, the U.S., Brazil and Guyana are all producing crude at record pace, amounting to historic production outside OPEC. The oil-producing bloc and its allies have vowed to cut production by 2.2 million barrels per day in the first quarter of 2024, but questions of demand and supply balance remain.

Technology shares, especially megacap stocks, led the 2023 advance with Apple (AAPL) soaring 48% and Microsoft (MSFT) surging nearly 57%.

Barclays kickstarted the new year with a downgrade to Apple (AAPL) stock, sending shockwaves rippling through the broader equity market. Analyst Tim Long downgraded shares of the tech titan to underweight from equal weight. He cited weakening sales volumes for iPhones, iPads, Macs and wearable devices as a reason for the downgrade. Shares of Apple were down 1.9% in premarket trading.

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

The national average price of gasoline is down six-tenths of a cent at $3.104 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.

Intel (INTC) reports earnings on 1/25/24 after the close.

Chevron (CVX) reports earnings on 1/26/24 before the open.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 90.29 (-0.12%) is up +3.93% in 2023.

Financial Calendar

09:45 AM ET S&P Global US Manufacturing PMI (Dec), 48.2, 49.4
10:00 AM ET Construction Spending (MoM) (Nov), 0.5%, 0.6%
11:30 AM ET 3-Month Bill Auction, 5.260%
11:30 AM ET 6-Month Bill Auction, 5.080%
13:00 PM ET Atlanta Fed GDPNow (Q4), 2.3%, 2.3%

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