The Dow Market Happenings For Tuesday, January 23, 2024 – Nike (NKE) 100.56 Down -7.38% YTD

Dow stocks hitting 52-week highs include Amgen (AMGN) 310.16 (+0.76%), Salesforce (CRM) 280.30 (-0.21%), Goldman Sachs (GS) 385.96 (+0.98%), IBM (IBM) 172.83 (+0.79%), McDonald’s (MCD) 298.41 (-0.71%), Microsoft (MSFT) 396.51 (-0.54%), Travelers (TRV) 213.86 (+1.03%) and Visa (V) 271.20 (+0.11%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -56 points.

Monday the Dow closed up +138.01 (+0.36%) at 38,001.81.

Year-to-date the Dow is up +0.83%.

Monday, (22) Dow stocks were up, none made 52-week lows and (8) made 52-week highs.

The Dow stock winners Monday were led by Walgreens (WBA) 22.56 (+2.55%), Disney (DIS) 95.08 (+2.17%) and UnitedHealth (UNH) 512.99 (+1.87%).

The Dow stock losers Monday were led by Home Depot (HD) 356.69 (-1.58%), Nike (NKE) 100.56 (-1.20%) and McDonald’s (MCD) 298.41 (-0.71%).

The VIX closed Monday at 13.19 (-0.83%) and the 10 YR at 4.100 (+0.17%). The VIX is currently at 13.20 (+0.08%). The 10YR is at 4.126 (+0.81%).

The Dow Jones Industrial Average hit 38,000 for the first time ever Monday.

Johnson & Johnson (JNJ) reported fourth-quarter earnings that narrowly topped Wall Street’s expectations. The company saw sales in its pharmaceutical and med-tech businesses jump. Its total sales for the final three months were up 7.3% from the same period in 2022. The results come as J&J is doubling down on its pharmaceutical and medical devices divisions after spinning off consumer health unit Kenvue, the biggest shakeup in company history.

Verizon (VZ) jumped nearly 5% in Tuesday’s premarket after the telecommunication giant topped analysts expectations for its fourth quarter. The company earned $1.08 in earnings per share, excluding items, on $35.13 billion in revenue. Analysts had anticipated $1.07 and $34.64 billion, respectively. Verizon also told investors to expect between $4.50 and $4.70 for earnings per share in the full year, a range that contains the $4.59 consensus forecast from analysts. Shares have climbed about 5% so far in the new year. That marks a turn for Verizon, which has ended every trading year since 2020 with losses.

Procter & Gamble (PG) advanced 1% in premarket trading as investors analyzed a mixed second quarter financial report form the consumer products maker. The company behind brands such as Pampers and Downy posted $1.84 in adjusted earnings per share, topping the consensus forecast of $1.70 from analysts. But revenue came in at $21.44 billion, under the Wall Street estimate of $21.48 billion. Shares are up nearly 1% so far in 2024, erasing some losses after dropping more than 7% and 3% in 2022 and 2023, respectively.

3M (MMM) issued disappointing full-year and first-quarter guidance, sending the stock down more than 5% in the premarket. The company sees earnings per share between $9.35 and $9.75, below an estimate of $9.81. For revenue, 3M expects growth of 0.25% to 2.25%, while analysts had forecast an expansion of 3.1%. For the first quarter, 3M issued earnings per share guidance of $2 to $2.15, while analysts expected a profit of $2.22.

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

The national average price of gasoline is up seven-tenths of a cent at $3.084 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 with $7.01, beating estimates of $5.038per share.

3M (MMM) reports earnings on 1/23/24 before the open with $2.42, beating estimates of $2.309 per share.

Johnson & Johnson (JNJ) reports earnings on 1/23/24 before the open with $2.29, beating estimates of $2.268 per share.

Procter & Gamble (PG) reports earnings on 1/23/24 before the open with $1.84, beating estimates of $1.703 per share.

Verizon (VZ) reports earnings on 1/23/24 before the open with $1.08, beating estimates of $1.073 per share.

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

Nike (NKE)

Nike (NKE) 100.56 (-1.20%) is down -7.38% in 2024.

Financial Calendar

08:55 AM ET Redbook (YoY), 5.0%
10:00 AM ET Richmond Manufacturing Index (Jan), -7, -11
10:00 AM ET Richmond Manufacturing Shipments (Jan), -17
10:00 AM ET Richmond Services Index (Jan), 0
11:30 AM ET 52-Week Bill Auction, 4.595%
13:00 PM ET 2-Year Note Auction, 4.314%
16:30 PM ET API Weekly Crude Oil Stock, 0.483M

Both comments and pings are currently closed.

Comments are closed.