The Dow Market Happenings For Wednesday, January 31, 2024 – Walmart (WMT) 165.59 Up +5.04% YTD

Dow stocks hitting 52-week highs include Amgen (AMGN) 314.62 (+0.37%), Caterpillar (CAT) 307.76 (+0.50%), Salesforce (CRM) 287.73 (-0.05%), JPMorgan (JPM) 176.27 (+2.05%), Merck (MRK) 121.66 (+0.31%), Microsoft (MSFT) 408.59 (-0.28%), Visa (V) 277.15 (+1.28%) and Verizon (VZ) 42.47 (+1.00%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +34 points.

Tuesday the Dow closed up +133.86 (+0.35%) at 38,467.31.

Year-to-date the Dow is up +2.06%.

Tuesday, (20) Dow stocks were up, none made 52-week lows and (8) made 52-week highs.

The Dow stock winners Tuesday were led by JPMorgan (JPM) 176.27 (+2.05%), Goldman Sachs (GS) 386.87 (+1.66%) and American Express (AXP) 204.15 (+1.64%).

The Dow stock losers Tuesday were led by Boeing (BA) 200.44 (-2.31%), Intel (INTC) 42.92 (-2.10%) and Apple (AAPL) 188.04 (-1.92%).

The VIX closed Tuesday at 13.31 (-2.13%) and the 10 YR at 3.987 (-0.99%). The VIX is currently at 13.23 (-0.60%). The 10YR is at 3.973 (-1.34%).

Private payroll growth declined sharply in January ADP reported Wednesday. Companies added 107,000 workers in the first month of 2024, off from the downwardly revised 158,000 in December and below an estimate for 150,000, according to the payrolls processing firm. On wage gains, ADP reported a 5.2% annual rise, a number that has run above the government’s measure of average hourly earnings.

Friday we get the Labor Department’s nonfarm payrolls report, which is expected to show growth of 185,000, against the 216,000 increase in December.

Boeing (BA) climbed 2% before the bell after the plane maker reported earnings amid the looming 737 Max 9 crisis. The company posted a smaller loss per share than analysts anticipated for the fourth quarter, while revenue came in better than forecasted. But management didn’t offer a 2024 outlook for investors as the company contended without the fallout of a fuselage panel blowing out midflight on a 737 Max 9 earlier this year. Shares have tumbled more than 23% in January, making it the worst performer of the 30 stocks in the Dow.

Walmart (WMT) announced late Tuesday it will implement a three-for-one stock split, sending shares higher by 1.3%. The split will take effect after market close on Feb. 23. The stock closed the previous session just below an all-time high.

Today we get the Fed’s rate decision with report at 11 am PST. Investors will be looking for clues on shifts in the central bank’s policy stance in its post-meeting statement and in Fed Chair Jerome Powell’s remarks.

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

The national average price of gasoline is up 1.6 cents at $3.141 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.

Microsoft (MSFT) reports earnings on 1/30/24 after the close with $2.93, beating estimates of $2.756 per share.

Boeing (BA) reports earnings on 1/31/24 before the open with -$0.47, beating estimates of $0.76 per share.

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.

Caterpillar (CAT) reports earnings on 2/5/24 before the open.

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

Walmart (WMT)

Walmart (WMT) 165.59 (+0.33%) is up +5.04% in 2024.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.78%
07:00 AM ET MBA Mortgage Applications (WoW), 3.7%
07:00 AM ET MBA Purchase Index, 174.3
07:00 AM ET Mortgage Market Index, 218.2
07:00 AM ET Mortgage Refinance Index, 438.4
08:15 AM ET ADP Nonfarm Employment Change (Jan), 145K, 164K
08:30 AM ET Employment Benefits (QoQ) (Q4), 0.90%
08:30 AM ET Employment Cost Index (QoQ) (Q4), 1.0%, 1.1%
08:30 AM ET Employment Wages (QoQ) (Q4), 1.20%
08:30 AM ET Texas Services Sector Outlook (Jan), -8.7
09:45 AM ET Chicago PMI (Jan), 48.0, 46.9
10:30 AM ET Crude Oil Inventories, -0.217M, -9.233M
10:30 AM ET EIA Refinery Crude Runs (WoW), -1.377M
10:30 AM ET Crude Oil Imports, -1.245M
10:30 AM ET Cushing Crude Oil Inventories, -2.008M
10:30 AM ET Distillate Fuel Production, -0.402M
10:30 AM ET EIA Weekly Distillates Stocks, -0.425M, -1.417M
10:30 AM ET Gasoline Production, -1.040M
10:30 AM ET Heating Oil Stockpiles, -0.379M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -7.1%
10:30 AM ET Gasoline Inventories, 1.483M, 4.913M
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 5.50%, 5.50%
14:30 PM ET FOMC Press Conference

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