The Dow Market Happenings For Monday, January 8, 2024 – Honeywell (HON) 203.53 Down -2.95% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 189.06 (+1.03%), Goldman Sachs (GS) 386.44 (+0.91%) and JPMorgan (JPM) 172.27 (+0.50%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -127 points.

Friday the Dow closed up +25.77 (+0.07%) at 37,466.11.

Year-to-date the Dow is down -0.92%.

Friday, (17) Dow stocks were up, none were at 52-week lows and (3) were at 52-week highs.

The Dow stock winners Friday were led by Walgreens (WBA) 25.01 (+3.09%), Verizon (VZ) 40.20 (+2.11%) and Boeing (BA) 249.00 (+1.65%).

The Dow stock losers Friday were led by UnitedHealth (UNH) 537.38 (-1.47%), IBM (IBM) 159.16 (-1.06%) and McDonald’s (MCD) 288.99 (-0.94%).

The VIX closed Friday at 13.35 (-5.52%) and the 10 YR at 4.065 (+0.59%). The VIX is currently at 13.84 (+3.67%). The 10YR is at 4.051 (+0.009%).

The Dow decline last week followed a December rally fueled by hopes that the Federal Reserve could start to cut interest rates this year. However, stronger-than-expected December jobs data released last week tempered those expectations. Inflation data this week, the consumer price index due Thursday and producer price index set for Friday, will help to shape the Fed’s rate decisions in the coming months.

Friday, earnings season for Dow stocks begins with JPMorgan chase reporting. See earnings section below.

Boeing (BA) shares dropped in premarket trading Monday, after the FAA grounded about 171 of the company’s 737 Max 9 planes. The agency grounded the aircraft for inspections after a panel blew out of a plane operated by Alaska Airlines during a flight Friday. No serious injuries were reported. The near catastrophe adds to the scrutiny facing Boeing, which had tried to turn around the 737 Max program after a string of problems including two fatal crashes. In a statement Sunday, the FAA said the planes “will remain grounded until the FAA is satisfied that they are safe.”

Congress has moved one step closer to avoiding a partial government shutdown. House and Senate leaders on Sunday announced they reached a deal on federal funding for fiscal 2024. Lawmakers are scrambling to write and pass spending legislation by Jan. 19, when funding for some government agencies will expire. Other parts of the government will not be able to keep running after a Feb. 2 deadline. The $1.59 trillion deal includes $886 billion for military spending and $704 billion in non-defense spending. The GOP-controlled House and Democratic-held Senate, which have clashed over spending priorities in recent months, will still have to hash out where exactly the money goes.

Apple (AAPL) shares slid roughly 6% last week.

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

The national average price of gasoline is down two-tenths of a cent at $3.077 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) reported earnings on 1/4/24 before the open with $0.66, beating estimates of $0.656 per share.

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.

IBM (IBM) reports earnings on 1/24/24 after the close.

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.

American Express (AXP) reports earnings on 1/26/24 before the open.

Amgen (AMGN) reports earnings on 1/30/24 before the open.

Caterpillar (CAT) reports earnings on 1/30/24 before the open.

McDonald’s (MCD) reports earnings on 1/30/24 before the open.

Honeywell (HON) reports earnings on 2/1/24 before the open.

Merck (MRK) reports earnings on 2/1/24 before the open.

Apple (AAPL) reports earnings on 2/1/24 after the close.

Today’s Featured Dow Stock

Honeywell (HON)

Honeywell (HON) 203.53 (-0.67%) is down -2.95% in 2024.

Financial Calendar

10:00 AM ET CB Employment Trends Index (Dec), 113.05
11:00 AM ET NY Fed 1-Year Consumer Inflation Expectations, 3.40%
11:30 AM ET 3-Month Bill Auction, 5.245%
11:30 AM ET 6-Month Bill Auction, 5.045%
12:00 PM ET FOMC Member Bostic Speaks
15:00 PM ET Consumer Credit (Nov), 9.00B, 5.13B

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