DJIA Market Happenings For Thursday, January 18, 2024 – 3M (MMM) 106.08 Down -2.96% YTD

Dow stocks hitting 52-week highs include IBM (IBM) 166.08 (-0.53%), Travelers (TRV) 197.40 (+0.40%) and Visa (V) 266.63 (+0.52%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -43 points.

Wednesday the Dow closed down -94.45 (-0.25%) at 37,266.67.

Year-to-date the Dow is down -1.12%.

Wednesday, (10) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Wednesday were led by Boeing (BA) 203.66 (+1.27%), UnitedHealth (UNH) 524.94 (+1.12%) and Salesforce (CRM) 271.44 (+0.84%).

The Dow stock losers Wednesday were led by Walgreens (WBA) 22.17 (-3.06%), Caterpillar (CAT) 278.63 (-2.99%) and Disney (DIS) 90.34 (-2.91%).

The VIX closed Wednesday at 14.79 (+6.86%) and the 10 YR at 4.098 (-0.15%). The VIX is currently at 14.29 (-3.38%). The 10YR is at 4.114 (+0.24%).

Apple (AAPL) shares ticked higher by more than 2% in the premarket after Bank of America upgraded the stock to buy, calling for more than 20% upside over the next 12 months.

Initial jobless claims fell sharply last week in a surprise move indicating ongoing tightness in the labor market. First-time filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, a decline of 16,000 from the previous period and below an estimate for 208,000, the Labor Department reported Thursday. That’s the lowest level since Sept. 24, 2022. Continuing claims, which run a week behind, decreased to 1.806 million, a decline of 26,000 and below an estimate for 1.83 million.

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

The national average price of gasoline is up six-tenths of a cent at $3.094 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.

JPMorgan (JPM) reported earnings on 1/12/24 before the open with $3.04, missing estimates of $3.726 per share.

UnitedHealth (UNH) reported earnings on 1/12/24 before the open with $6.16, beating estimates of $5.978 per share.

Goldman Sachs (GS) reported earnings on 1/16/24 before the open with $5.48, beating estimates of $3.51 per share.

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.

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.

Visa (V) reports earnings on 1/25/24 after the close.

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

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

Microsoft (MSFT) reports earnings on 1/30/24 after the close.

Boeing (BA) reports earnings on 1/31/24 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.

Chevron (CVX) reports earnings on 2/2/24 before the open.

McDonald’s (MCD) reports earnings on 2/5/24 before the open.

Amgen (AMGN) reports earnings on 2/6/24 after the close.

Disney (DIS) reports earnings on 2/7/24 after the close.

Coca Cola (KO) reports earnings on 2/13/24 before the open.

Cisco (CSCO) reports earnings on 2/14/24 after the close.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 106.08 (-1.45%) is down -2.96% in 2024.

Financial Calendar

08:30 AM ET Building Permits (MoM) (Dec), -2.1%
08:30 AM ET Building Permits (Dec), 1.480M, 1.467M
08:30 AM ET Continuing Jobless Claims, 1,845K, 1,834K
08:30 AM ET Housing Starts (Dec), 1.426M, 1.560M
08:30 AM ET Housing Starts (MoM) (Dec), 14.8%
08:30 AM ET Initial Jobless Claims, 207K, 202K
08:30 AM ET Jobless Claims 4-Week Avg., 207.75K
08:30 AM ET Philadelphia Fed Manufacturing Index (Jan), -7.0, -10.5
08:30 AM ET Philly Fed Business Conditions (Jan), 12.1
08:30 AM ET Philly Fed CAPEX Index (Jan), -7.50
08:30 AM ET Philly Fed Employment (Jan), -1.7
08:30 AM ET Philly Fed New Orders (Jan), -25.6
08:30 AM ET Philly Fed Prices Paid (Jan), 25.10
08:55 AM ET Redbook (YoY), 5.9%
10:30 AM ET Natural Gas Storage, -140B
11:00 AM ET Crude Oil Inventories, -2.400M, 1.338M
11:00 AM ET EIA Refinery Crude Runs (WoW), -0.161M
11:00 AM ET Crude Oil Imports, 1.316M
11:00 AM ET Cushing Crude Oil Inventories, -0.506M
11:00 AM ET Distillate Fuel Production, -0.064M
11:00 AM ET EIA Weekly Distillates Stocks, 1.200M, 6.528M
11:00 AM ET Gasoline Production, 0.901M
11:00 AM ET Heating Oil Stockpiles, -0.623M
11:00 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.6%
11:00 AM ET Gasoline Inventories, 2.000M, 8.029M
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.275%
11:30 AM ET Atlanta Fed GDPNow (Q4), 2.4%, 2.4%
11:30 AM ET FOMC Member Bostic Speaks
13:00 PM ET 10-Year TIPS Auction, 2.180%
16:30 PM ET Fed’s Balance Sheet, 7,687B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.537T

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