DJIA Market Happenings For Thursday, February 15, 2024 – Goldman Sachs (GS) 378.04 Down -2.00% YTD

Dow stocks hitting 52-week highs include Travelers (TRV) 216.62 (+0.31%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +93 points.

Wednesday the Dow closed up +151.52 (+0.40%) at 38,424.27.

Year-to-date the Dow is up +1.95%.

Wednesday, (19) Dow stocks were up, none made 52-week lows and (1) made 52-week highs.

The Dow stock winners Wednesday were led by Salesforce (CRM) 289.15 (+2.85%), Intel (INTC) 44.19 (+2.39%) and Cisco (CSCO) 50.28 (+1.29%).

The Dow stock losers Wednesday were led by Boeing (BA) 203.38 (-0.53%), Apple (AAPL) 184.15 (-0.48%) and Johnson & Johnson (JNJ) 155.74 (-0.47%).

The VIX closed Wednesday at 14.38 (-9.27%) and the 10 YR at 4.251 (-0.33%). The VIX is currently at 14.31 (-0.49%). The 10YR is at 4.204 (-1.43%).

Consumer spending fell sharply in January the Commerce Department reported Thursday. Advanced retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists were looking for a drop of 0.3%, in part to make up for seasonal distortions that probably boosted December’s number. However, the pullback was considerably more than expected. Even excluding autos, sales dropped 0.6%, well below the estimate for a 0.2% gain.

Cisco announced over 4,000 job cuts, a 5% reduction of its global workforce. The tech company is the latest in a string to announce layoffs aimed at restructuring and saving costs. Since the new year, 144 tech companies have laid off almost 35,000 workers. Cisco also reported strong fiscal second-quarter results Wednesday after the close, coupled with a light forecast.

Unemployment insurance weekly claims in the week ending February 10, the advance figure for seasonally adjusted initial claims was 212,000, a decrease of 8,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 218,000 to 220,000. The 4-week moving average was 218,500, an increase of 5,750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 212,250 to 212,750. The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending February 3, an increase of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 3 was 1,895,000, an increase of 30,000 from the previous week’s revised level. The previous week’s level was revised down by 6,000 from 1,871,000 to 1,865,000. The 4-week moving average was 1,870,500, an increase of 22,250 from the previous week’s revised average. The previous week’s average was revised down by 1,500 from 1,849,750 to 1,848,250. The total number of continued weeks claimed for benefits in all programs for the week ending January 27 was 2,160,209, a decrease of 52,269 from the previous week. There were 1,953,615 weekly claims filed for benefits in all programs in the comparable week in 2023.

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

The national average price of gasoline is up 2.2 cents at $3.278 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) reported earnings on 2/13/24 before the open with $0.46, missing estimates of $0.484 per share.

Cisco (CSCO) reported earnings on 2/14/24 after the close with $0.87, beating estimates of $0.713 per share.

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

Walmart (WMT) reports earnings on 2/20/24 before the open. Walmart is also doing a 3:1 stock split on 2/26/24.

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

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) 378.04 (-0.19%) is down -2.00% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,880K, 1,871K
08:30 AM ET Core Retail Sales (MoM) (Jan), 0.2%, 0.4%
08:30 AM ET Export Price Index (MoM) (Jan), -0.1%, -0.9%
08:30 AM ET Export Price Index (YoY), -3.2%
08:30 AM ET Import Price Index (MoM) (Jan), 0.0%, 0.0%
08:30 AM ET Import Price Index (YoY), -1.6%
08:30 AM ET Initial Jobless Claims, 219K, 218K
08:30 AM ET Jobless Claims 4-Week Avg., 212.25K
08:30 AM ET NY Empire State Manufacturing Index (Feb), -13.70, -43.70
08:30 AM ET Philadelphia Fed Manufacturing Index (Feb), -8.0, -10.6
08:30 AM ET Philly Fed Business Conditions (Feb), -4.0
08:30 AM ET Philly Fed CAPEX Index (Feb), 7.50
08:30 AM ET Philly Fed Employment (Feb), -1.8
08:30 AM ET Philly Fed New Orders (Feb), -17.9
08:30 AM ET Philly Fed Prices Paid (Feb), 11.30
08:30 AM ET Retail Control (MoM) (Jan), 0.8%
08:30 AM ET Retail Sales (MoM) (Jan), -0.2%, 0.6%
08:30 AM ET Retail Sales (YoY) (Jan), 5.59%
08:30 AM ET Retail Sales Ex Gas/Autos (MoM) (Jan), 0.6%
09:15 AM ET Capacity Utilization Rate (Jan), 78.8%, 78.6%
09:15 AM ET Industrial Production (YoY) (Jan), 0.98%
09:15 AM ET Industrial Production (MoM) (Jan), 0.2%, 0.1%
09:15 AM ET Manufacturing Production (MoM) (Jan), 0.0%, 0.1%
10:00 AM ET Business Inventories (MoM) (Dec), 0.4%, -0.1%
10:00 AM ET NAHB Housing Market Index (Feb), 46, 44
10:00 AM ET Retail Inventories Ex Auto (Dec), 0.6%, -0.9%
10:30 AM ET Natural Gas Storage, -67B, -75B
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.270%
13:00 PM ET Atlanta Fed GDPNow (Q1)
13:15 PM ET Fed Waller Speaks
16:00 PM ET US Foreign Buying, T-bonds (Dec), 91.00B
16:00 PM ET Overall Net Capital Flow (Dec), 260.20B
16:00 PM ET TIC Net Long-Term Transactions (Dec), 126.1B
16:00 PM ET TIC Net Long-Term Transactions including Swaps (Dec), 42.60B, 126.10B
16:30 PM ET Fed’s Balance Sheet, 7,631B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.556T
19:00 PM ET FOMC Member Bostic Speaks

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