DJIA Market Happenings For Monday, February 5, 2024 – American Express (AXP) 206.41 Up +10.18% YTD

Dow stocks hitting 52-week highs include Amgen (AMGN) 323.19 (-0.42%), American Express (AXP) 206.41 (+1.57%), Caterpillar (CAT) 315.09 (+2.41%), Merck (MRK) 126.41 (+0.02%) and Procter & Gamble (PG) 158.09 (-0.68%), Travelers (TRV) 214.82 (+1.32%) and Walmart (WMT) 169.57 (+0.75%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -124 points.

Friday the Dow closed up +134.58 (+0.35%) at 38654.42.

Year-to-date the Dow is up +2.56%.

Friday, (13) Dow stocks were up, none made 52-week lows and (7) made 52-week highs.

The Dow stock winners Friday were led by Chevron (CVX) 152.24 (+2.94%), Caterpillar (CAT) 315.09 (+2.41%) and Microsoft (MSFT) 411.22 (+1.84%).

The Dow stock losers Friday were led by Walgreens (WBA) 22.64 (-2.62%), Intel (INTC) 42.60 (-1.75%) and Johnson & Johnson (JNJ) 156.61 (-1.11%).

The VIX closed Friday at 13.85 (-0.22%) and the 10 YR at 4.012 (+4.32%). The VIX is currently at 14.21 (+2.60%). The 10YR is at 4.118 (+2.39%).

Last week the Dow gained 1.43%, its fourth positive week in a row.

Caterpillar (CAT) shares popped more than 4% after the company reported adjusted earnings per share of $5.23 for the fourth quarter. Revenue came in at $17.07 billion, slightly shy of the $17.06 billion consensus estimate. Sales were particularly strong in North America.

McDonald’s (MCD) shares were little changed after the fast-food giant posted mixed-fourth quarter results. The company topped earnings estimates but fell short on revenue expectations as conflict in the Middle East hindered sales in the region. McDonald’s posted adjusted earnings of $2.95 per share on $6.41 billion in revenue. Analysts polled by LSEG had anticipated adjusted EPS of $2.82 on revenues of $6.45 billion. Global same-store sales grew 3.4% during the period and fell short of estimates of 4.7% due to lagging Middle East sales.

Federal Reserve Chair Jerome Powell poured cold water over market expectations for faster interest rates cuts and said in an interview aired Sunday that the central bank will proceed carefully with its tightening cycle and likely will move at a considerably slower pace.

Data on Friday showed U.S. nonfarm payrolls expanded by 353,000 in January, nearly double of the Dow Jones estimate for 185,000 additions. Jobless rate for the months held at 3.7%, against the estimate for 3.8%.

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

The national average price of gasoline is up one-tenth of a cent at $3.148 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) reported earnings on 2/1/24 before the open with $2.60, beating estimates of $2.597 per share.

Merck (MRK) reported earnings on 2/1/24 before the open with $0.03, beating estimates of -$0.094 per share.

Apple (AAPL) reported earnings on 2/1/24 after the close with $2.18, beating estimates of $2.089 per share.

Chevron (CVX) reported earnings on 2/2/24 before the open with $3.45, beating estimates of $3.285 per share.

Caterpillar (CAT) reported earnings on 2/5/24 before the open with $5.33, beating estimates of $4.763 per share.

McDonald’s (MCD) reported earnings on 2/5/24 before the open with $2.95, beating estimates of $2.807 per share.

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.

Home Depot (HD) reports earnings on 2/20/24 before the open.

Walmart (WMT) reports earnings on 2/20/24 before the open.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) 206.41 (+1.57%) is up +10.18% in 2024.

Financial Calendar

08:30 AM ET Payrolls Benchmark, 568.00
08:30 AM ET Payrolls Benchmark, n.s.a., -306.00K
09:45 AM ET S&P Global Composite PMI (Jan), 52.3, 50.9
09:45 AM ET S&P Global Services PMI (Jan), 52.9, 51.4
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), 52.0, 50.6
10:00 AM ET ISM Non-Manufacturing Prices (Jan), 57.4
10:00 AM ET Total Vehicle Sales, 15.70M, 15.83M
11:30 AM ET 3-Month Bill Auction, 5.210%
11:30 AM ET 6-Month Bill Auction, 4.985%
14:00 PM ET FOMC Member Bostic Speaks
14:00 PM ET Loan Officer Survey

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