DJIA Market Happenings For Friday, March 1, 2024 – Merck (MRK) 127.15 Up +16.63% YTD

Dow stocks hitting 52-week highs include Amazon (AMZN) 176.76 (+2.08%), American Express (AXP) 219.42 (+0.64%), Caterpillar (CAT) 333.96 (+1.34%), Salesforce (CRM) 308.82 (+3.02%), Home Depot (HD) 380.61 (+0.79%) and JPMorgan (JPM) 186.06 (+0.91%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -27 points.

Thursday the Dow closed up 47.37 (+0.12%) at 38,996.39.

Year-to-date the Dow is up +3.47%.

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

The Dow stock winners Thursday were led by Salesforce (CRM) 308.82 (+3.02%), Intel (INTC) 43.05 (+2.52%) and Amazon (AMZN) 176.76 (+2.08%).

The Dow stock losers Thursday were led by Walmart (WMT) 58.61 (-1.69%), Boeing (BA) 203.72 (-1.58%) and Amgen (AMGN) 273.83 (-1.31%).

The VIX closed Thursday at 13.40 (-3.18%) and the 10 YR at 4.254 (-0.02%). The VIX is currently at 13.29 (-0.82%). The 10YR is at 4.266 (+0.014%).

Congress passed a short-term funding bill Thursday, sending the stopgap to President Joe Biden’s desk and averting a partial government shutdown this weekend. The measure extends deadlines for passing individual bills to fund federal agencies, buying lawmakers time before money runs out at the end of September. The piecemeal approach now calls for finalizing some budgets by March 8 and the rest by March 22, as opposed to one large omnibus bill that can be difficult to nail down.

The Dow added 2.2% in February for its first four-month winning streak since May 2021. Thursday’s gains came after inflation data showed the personal consumption expenditures price index excluding food and energy, the Federal Reserve’s preferred gauge, rose 0.4% in January, in line with expectations.

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

The national average price of gasoline is up 1.2 cents at $3.331 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

Merck (MRK)

Merck (MRK) 127.15 (-0.81%) is up +16.63% in 2024.

Financial Calendar

09:45 AM ET S&P Global US Manufacturing PMI (Feb), 51.5, 50.7
10:00 AM ET Construction Spending (MoM) (Jan), 0.2%, 0.9%
10:00 AM ET ISM Manufacturing Employment (Feb), 47.1
10:00 AM ET ISM Manufacturing New Orders Index (Feb), 52.5
10:00 AM ET ISM Manufacturing PMI (Feb), 49.5, 49.1
10:00 AM ET ISM Manufacturing Prices (Feb), 53.5, 52.9
10:00 AM ET Michigan 1-Year Inflation Expectations (Feb), 3.0%, 2.9%
10:00 AM ET Michigan 5-Year Inflation Expectations (Feb), 2.9%, 2.9%
10:00 AM ET Michigan Consumer Expectations (Feb), 78.4, 77.1
10:00 AM ET Michigan Consumer Sentiment (Feb), 79.6, 79.0
10:00 AM ET Michigan Current Conditions (Feb), 81.5, 81.9
10:15 AM ET Fed Logan Speaks
10:15 AM ET Fed Waller Speaks
12:15 PM ET FOMC Member Bostic Speaks
13:00 PM ET Atlanta Fed GDPNow (Q1), 3.0%, 3.0%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 503
13:00 PM ET U.S. Baker Hughes Total Rig Count, 626
13:30 PM ET FOMC Member Daly Speaks
15:30 PM ET CFTC Aluminium speculative net positions, 4.0K
15:30 PM ET CFTC Copper speculative net positions, -15.9K
15:30 PM ET CFTC Corn speculative net positions, -266.1K
15:30 PM ET CFTC Crude Oil speculative net positions, 191.9K
15:30 PM ET CFTC Gold speculative net positions, 140.3K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 25.6K
15:30 PM ET CFTC Natural Gas speculative net positions, -153.9K
15:30 PM ET CFTC S&P 500 speculative net positions, -218.5K
15:30 PM ET CFTC Silver speculative net positions, 22.4K
15:30 PM ET CFTC Soybeans speculative net positions, -160.3K
15:30 PM ET CFTC Wheat speculative net positions, -44.6K
15:30 PM ET FOMC Member Kugler Speaks

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