The Dow Market Happenings For Monday, January 29, 2024 – Visa (V) 267.94 Up +2.92% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 201.43 (+7.10%), Merck (MRK) 120.80 (+0.57%) and Verizon (VZ) 42.40 (+0.26%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -19 points.

Friday the Dow closed up +60.30 (+0.16%) at 38109.43.

Year-to-date the Dow is up +1.11%.

Friday, (15) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Friday were led by American Express (AXP) 201.43 (+7.10%), UnitedHealth (UNH) 503.20 (+1.99%) and Nike (NKE) 102.75 (+1.96%).

The Dow stock losers Friday were led by Intel (INTC) 43.65 (-11.91%), Visa (V) 267.94 (-1.71%) and McDonald’s (MCD) 292.26 (-1.67%).

The VIX closed Friday at 13.26 (-1.41%) and the 10 YR at 4.140 (+0.17%). The VIX is currently at 13.91 (+4.90%). The 10YR is at 4.108 (-1.32%).

The Federal Open Market Committee will begin its two-day policy meeting on Tuesday.

Six of the 30-stock Dow Jones Industrial Average will be releasing their quarterly results this week. Microsoft (MSFT) will be reporting its earnings on Tuesday after the bell. Boeing (BA), which has been battered by issues with its 737 Max 9 planes, will be posting its quarterly earnings Wednesday morning. On Thursday, Honeywell (HON) and Merck (MRK) will be reporting, followed by Apple (AAPL) after the bell. Chevron (CVX) will be announcing its results Friday morning.

Crude oil continued to rally on Monday with the U.S. benchmark at a two-month high and the international benchmark reaching its highest in almost three months. March West Texas Intermediate futures contracts briefly touched a high of $79.29, the highest since Nov. 30, and are now about 8.5% higher on the month, the first gain in four months. In January, crude oil may post its strongest month since July, depending how this week shakes out. March Brent contracts got as high as $84.80 on Monday, the highest since Nov. 7, and are ahead 7.9% in January.

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

The national average price of gasoline is up four-tenths of a cent at $3.107 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) reported earnings on 1/19/24 before the open with $7.01, beating estimates of $5.038per share.

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

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

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

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

IBM (IBM) reported earnings on 1/24/24 after the close with $3.87, beating estimates of $3.776 per share.

Dow (DOW) reported earnings on 1/25/24 before the open with $0.43, beating estimates of $0.397 per share.

Intel (INTC) reports earnings on 1/25/24 after the close with $0.54, beating estimates of $0.267 per share.

Visa (V) reports earnings on 1/25/24 after the close with $2.41, beating estimates of $2.334 per share.

American Express (AXP) reports earnings on 1/26/24 before the open with $2.62, beating estimates of $2.648 per share.

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

Visa (V)

Visa (V) 267.94 (-1.71%) is up +2.92% in 2024.

Financial Calendar

09:45 AM ET S&P Global Composite PMI (Jan), 52.3
09:45 AM ET S&P Global Services PMI (Jan), 52.9
10:00 AM ET CB Employment Trends Index (Jan), 113.15
10:00 AM ET ISM Non-Manufacturing Business Activity (Jan), 56.6
10:00 AM ET ISM Non-Manufacturing Employment (Jan), 43.3
10:00 AM ET ISM Non-Manufacturing New Orders (Jan), 52.8
10:00 AM ET ISM Non-Manufacturing PMI (Jan), 50.6
10:00 AM ET ISM Non-Manufacturing Prices (Jan), 57.4

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