The Dow Market Happenings For Thursday, February 29, 2024 – 3M (MMM) 91.46 Down -16.34% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 218.03 (+0.02%), Home Depot (HD) 377.61 (+0.55%), JPMorgan (JPM) 184.38 (+0.51%) and Visa (V) 285.63 (+0.87%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +71 points.

Wednesday the Dow closed down -23.39 (-0.06%) at 38,949.02.

Year-to-date the Dow is up +3.34%.

Wednesday, (18) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Wednesday were led by Boeing (BA) 207.00 (+2.78%), Goldman Sachs (GS) 393.18 (+1.32%) and Disney (DIS) 110.80 (+1.26%).

The Dow stock losers Wednesday were led by UnitedHealth (UNH) 498.28 (-2.95%), Intel (INTC) 41.99 (-1.73%) and 3M (MMM) 91.46 (-0.91%).

The VIX closed Wednesday at 13.84 (+3.05%) and the 10 YR at 4.278 (+0.004%). The VIX is currently at 13.51 (-2.38%). The 10YR is at 4.256 (-0.018%).

The personal consumption expenditures price index is the Federal Reserve’s preferred inflation gauge. The core PCE index, which excludes volatile food and energy costs, increased 0.4% for the month and 2.8% from a year ago, with matched the Dow Jones consensus estimate. Headline PCE, which includes food and energy categories, increased 0.3% monthly and 2.4% on a 12-month basis, compared to respective estimates for 0.3% and 2.4%.

For February, the Dow has added 2.1% so far. We’ll see what happens today.

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

The national average price of gasoline is up 2.5 cents at $3.319 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 $5.038 per 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) reported earnings on 2/20/24 before the open with $1.80, beating estimates of $1.645 per share. Walmart is also doing a 3:1 stock split on 2/26/24.

Salesforce (CRM) reported earnings on 2/28/24 after the close with $2.29, beating estimates of $1.721 per share.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 91.46 (-0.91%) is down -16.34% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,874K, 1,862K
08:30 AM ET Core PCE Price Index (YoY) (Jan), 2.8%, 2.9%
08:30 AM ET Core PCE Price Index (MoM) (Jan), 0.4%, 0.2%
08:30 AM ET Initial Jobless Claims, 209K, 201K
08:30 AM ET Jobless Claims 4-Week Avg., 215.25K
08:30 AM ET PCE Price index (YoY) (Jan), 2.4%, 2.6%
08:30 AM ET PCE price index (MoM) (Jan), 0.3%, 0.2%
08:30 AM ET Personal Income (MoM) (Jan), 0.4%, 0.3%
08:30 AM ET Personal Spending (MoM) (Jan), 0.2%, 0.7%
08:30 AM ET Real Personal Consumption (MoM) (Jan), 0.5%
09:00 AM ET Dallas Fed PCE (Jan), 2.60%
09:45 AM ET Chicago PMI (Feb), 48.1, 46.0
10:00 AM ET Pending Home Sales (MoM) (Jan), 1.4%, 8.3%
10:00 AM ET Pending Home Sales Index (Jan), 77.3
10:30 AM ET Natural Gas Storage, -86B, -60B
10:50 AM ET FOMC Member Bostic Speaks
11:00 AM ET Fed Goolsbee Speaks
11:00 AM ET KC Fed Composite Index (Feb), -9
11:00 AM ET KC Fed Manufacturing Index (Feb), -17
11:30 AM ET 4-Week Bill Auction, 5.285%
11:30 AM ET 8-Week Bill Auction, 5.275%
11:30 AM ET Atlanta Fed GDPNow (Q1), 3.2%, 3.2%
13:15 PM ET FOMC Member Mester Speaks
16:30 PM ET Fed’s Balance Sheet, 7,582B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.523T
20:10 PM ET FOMC Member Williams Speaks

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