DJIA Market Happenings For Tuesday, March 5, 2024 – Nike (NKE) 99.54 Down -8.32% YTD

Dow stocks hitting 52-week highs include Amazon (AMZN) 177.58 (-0.36%), Caterpillar (CAT) 338.65 (+0.58%), Disney (DIS) 113.69 (+1.15%) and JPMorgan (JPM) 186.68 (+0.75%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -142 points.

Monday the Dow closed up +90.99 (+0.23%) at 39,087.38.

Year-to-date the Dow is up +3.45%.

Monday, (16) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Monday were led by Intel (INTC) 45.61 (+4.08%), IBM (IBM) 193.06 (+2.58%) and Dow (DOW) 57.02 (+2.24%).

The Dow stock losers Monday were led by Chevron (CVX) 148.88 (-2.57%), Apple (AAPL) 175.10 (-2.54%) and Nike (NKE) 99.54 (-2.30%).

The VIX closed Monday at 13.49 (+2.90%) and the 10 YR at 4.212 (-0.05%). The VIX is currently at 13.85 (+2.67%). The 10YR is at 4.158 (-0.061%).

Apple (AAPL) shares slipped around 2% in Tuesday premarket trading after an investment firm reported soft iPhone sales in China at the start of this year. Counterpoint Research said in a note to clients that sales of the iconic smartphone tumbled 24% in China during the first six weeks of 2024. It comes as the technology titan faces competition from a bevy of local phone makers. That adds to recent woes for Apple stock coming off a strong 2023. Shares have slipped more than 3% so far in March and over 9% in 2024.

Spot gold prices hovered near record levels, while futures settled at an all-time high on Monday. Traders bet the U.S. Federal Reserve will start cutting interest rates in the second half of the year, lifting prices of the precious metal. The gold contract for April gained $30.60, or 1.46%, to settle at $2,126.30 per ounce, the highest level dating back to the contract’s creation in 1974. Spot gold prices inched 0.16% lower on the day, trading at $2,111.69, just shy of a record high at 2,135.40 which it hit in December 2023.

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

The national average price of gasoline is up 1.4 cents at $3.366 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 3/21/24 after the market close.

Today’s Featured Dow Stock

Nike (NKE)

Nike (NKE) 99.54 (-2.30%) is down -8.32% in 2024.

Financial Calendar

08:55 AM ET Redbook (YoY), 2.7%
09:45 AM ET S&P Global Composite PMI (Feb), 51.4, 52.0
09:45 AM ET S&P Global Services PMI (Feb), 51.3, 52.5
10:00 AM ET Durables Excluding Defense (MoM) (Jan), -7.3%
10:00 AM ET Durables Excluding Transport (MoM) (Jan), 0.5%
10:00 AM ET Factory Orders (MoM) (Jan), 0.3%, 0.2%
10:00 AM ET Factory orders ex transportation (MoM) (Jan), 0.4%
10:00 AM ET IBD/TIPP Economic Optimism, 45.2, 44.0
10:00 AM ET ISM Non-Manufacturing Business Activity (Feb), 55.8
10:00 AM ET ISM Non-Manufacturing Employment (Feb), 50.5
10:00 AM ET ISM Non-Manufacturing New Orders (Feb), 55.0
10:00 AM ET ISM Non-Manufacturing PMI (Feb), 52.9, 53.4
10:00 AM ET ISM Non-Manufacturing Prices (Feb), 64.0
10:00 AM ET Total Vehicle Sales, 15.00M
10:00 AM ET Milk Auctions, 3,664.0
12:00 PM ET Fed Vice Chair for Supervision Barr Speaks
15:30 PM ET Fed Vice Chair for Supervision Barr Speaks
16:30 PM ET API Weekly Crude Oil Stock, 8.428M

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