The Dow Market Happenings For Thursday, February 8, 2024 – Salesforce (CRM) 288.84 Up +9.77% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 209.08 (+1.67%), Salesforce (CRM) 288.84 (+1.05%), Home Depot (HD) 362.69 (+1.81%), Merck (MRK) 127.47 (+0.47%), Procter & Gamble (PG) 159.12 (+0.10%) and Walmart (WMT) 169.38 (-0.25%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +19 points.

Wednesday the Dow closed up +156.00 (+0.40%) at 38,677.36.

Year-to-date the Dow is up +2.62%.

Wednesday, (22) Dow stocks were up, none made 52-week lows and (6) made 52-week highs.

The Dow stock winners Wednesday were led by Microsoft (MSFT) 414.05 (+2.11%), Home Depot (HD) 362.69 (+1.81%) and UnitedHealth (UNH) 519.39 (+1.71%).

The Dow stock losers Wednesday were led by Amgen (AMGN) 295.87 (-6.39%), Verizon (VZ) 40.42 (-1.65%) and Walgreens (WBA) 22.81 (-1.30%).

The VIX closed Wednesday at 12.83 (-1.86%) and the 10 YR at 4.101 (+0.07%). The VIX is currently at 12.99 (+1.25%). The 10YR is at 4.142 (+1.07%).

Disney (DIS) shares surge this morning after the media giant beat quarterly earnings estimates and raised its guidance amid its cost-cutting effort. The company posted adjusted earnings of $1.22 per share, topping an estimate of 99 cents. Revenues came in at $23.55 billion, falling short of the $23.64 billion expected by analysts. Management also said adjusted earnings are expected to rise 20% to $4.60 per share in the fiscal year. Disney also said its poised to meet or surpass its goal to cut at least $7.5 billion in costs by the end of the fiscal 2024 year and announced a $1.5 billion stake in Fortnite creator Epic Games. The company also plans to launch its flagship ESPN streaming service in 2025 and said it would stream an exclusive iteration of Taylor Swift’s Eras Tour movie.

Initial filings for unemployment insurance nudged lower last week as employers remain reluctant to let go of their workers. Weekly jobless claims totaled 218,000 for the week ended Feb. 3, down 9,000 from the week before and just below an estimate for 220,000, the Labor Department reported Thursday. Continuing claims, which run a week behind, decreased to 1.87 million, down 23,000 and slightly below the FactSet estimate for 1.88 million.

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 five-tenth of a cent at $3.153 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 $5.23, 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) reported earnings on 2/6/24 after the close with $4.71, beating estimates of $4.656 per share.

Disney (DIS) reported earnings on 2/7/24 after the close with $1.22, beating estimates of $0.973 per share.

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.

Salesforce (CRM) reports earnings on 2/28/24 after the close.

Today’s Featured Dow Stock

Salesforce (CRM)

Salesforce (CRM) 288.84 (+1.05%) is up +9.77% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,878K, 1,898K
08:30 AM ET FOMC Member Barkin Speaks
08:30 AM ET Initial Jobless Claims, 221K, 224K
08:30 AM ET Jobless Claims 4-Week Avg., 207.75K
10:00 AM ET Wholesale Inventories (MoM) (Dec), 0.4%, -0.2%
10:00 AM ET Wholesale Trade Sales (MoM) (Dec), 0.0%
10:30 AM ET Natural Gas Storage, -73B, -197B
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.265%
12:00 PM ET WASDE Report
12:05 PM ET FOMC Member Barkin Speaks
13:00 PM ET 30-Year Bond Auction, 4.229%
13:00 PM ET Atlanta Fed GDPNow (Q1), 3.4%, 3.4%
16:30 PM ET Fed’s Balance Sheet, 7,630B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.412T

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