The Dow Market Happenings For Friday, February 16, 2024 – Home Depot (HD) 361.08 Up +4.19% YTD

Dow stocks hitting 52-week highs include Disney (DIS) 112.45 (+0.80%), JPMorgan (JPM) 179.87 (+2.18%), Travelers (TRV) 219.02 (+1.11%) and Visa (V) 280.98 (+1.23%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -104 points.

Thursday the Dow closed up +348.85 (+0.91%) at 38,773.12.

Year-to-date the Dow is up +2.88%.

Thursday, (24) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Thursday were led by Walgreens (WBA) 22.29 (+3.48%), Chevron (CVX) 154.46 (+3.40%) and Dow (DOW) 55.17 (+2.97%).

The Dow stock losers Thursday were led by Cisco (CSCO) 49.06 (-2.43%), Microsoft (MSFT) 406.56 (-0.72%) and Amgen (AMGN) 289.07 ((-0.54%).

The VIX closed Thursday at 14.01 (-2.57%) and the 10 YR at 4.254 (+0.33%). The VIX is currently at 14.33 (+2.28%). The 10YR is at 4.319 (+1.86%).

The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month. Economists had been looking for an increase of just 0.1%. PPI fell 0.2% in December. Excluding food and energy, core PPI increased 0.5%, also against expectations for a 0.1% gain. PPI excluding food, energy and trade services jumped 0.6%, its biggest one-month advance since January 2023.

Earlier this week the consumer price index showed inflation holding stubbornly higher despite Federal Reserve expectations for moderation through the year. The CPI was up 3.1% from a year ago, down from its December level but still well ahead of the Fed’s goal for 2% inflation. On a core basis, which the Fed focuses on more as a longer-term gauge of inflation, the CPI was up 3.9%. CPI differs from PPI in that it measures the prices consumers actually pay in the marketplace.

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

The national average price of gasoline is up six-tenths of a cent at $3.284 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

Home Depot (HD)

Home Depot (HD) 361.08 (+0.80%) is up +4.19% 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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