DJIA Market Happenings For Tuesday, March 19, 2024 – American Express (AXP) 220.97 Up +17.95% YTD

Dow stocks hitting 52-week highs include Dow Caterpillar (CAT) 351.90 (+1.42%) and JPMorgan (JPM) 192.66 (+1.24%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -38 points.

Monday the Dow closed up +75.66 (+0.20%) at 38,790.43.

Year-to-date the Dow is up +2.92%.

Monday, (17) Dow stocks were up, none made 52-week lows and (2) made 52-week highs.

The Dow stock winners Monday were led by Salesforce (CRM) 300.51 (+2.10%), Disney (DIS) 113.85 (+1.70%) and Caterpillar (CAT) 351.90 (+1.42%).

The Dow stock losers Monday were led by Boeing (BA) 179.84 (-1.47%), Nike (NKE) 98.74 (-0.90%) and Johnson & Johnson (JNJ) 156.76 (-0.90%).

The VIX closed Friday at 14.33 (-0.56%) and the 10 YR at 4.323 (-0.37%). The VIX is currently at 14.51 (+0.69%). The 10YR is at 4.325 (+0.58%).

Tomorrow we get the FOMC rate decision with a 99% likelihood that the Fed will leave benchmark interest rates unchanged.

Housing starts and building permits accelerated at a faster than expected pace in February, the Commerce Department reported Tuesday. Privately owned starts totaled a seasonally adjusted 1.521 million on the month, up 10.7% from January and 5.9% from a year ago. Economists surveyed by Dow Jones had been looking for 1.43 million. On the permit side, the total hit 1.518 million, a 1.9% increase from February and 2.4% from a year ago. The consensus estimate was for 1.49 million. Completed housing on the month totaled 1.73 million, up 19.7% from January and 9.6% from the same month in 2023.

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

The national average price of gasoline is up 2.2 cents at $3.489 per gallon.

Earnings Reports

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

JPMorgan (JPM) reports earnings on 4/12/24 before the market open.

Goldman Sachs (GS) reports earnings on 4/15/24 before the market open.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) 220.97 (+1.15%) is up +17.95% in 2024.

Financial Calendar

08:30 AM ET Building Permits (Feb), 1.500M, 1.489M
08:30 AM ET Building Permits (MoM) (Feb), -0.3%
08:30 AM ET Housing Starts (Feb), 1.435M, 1.331M
08:30 AM ET Housing Starts (MoM) (Feb), -14.8%
08:55 AM ET Redbook (YoY), 3.0%
11:00 AM ET Milk Auctions, 3,630.0
11:30 AM ET 52-Week Bill Auction, 4.695%
12:30 PM ET Atlanta Fed GDPNow (Q1), 2.3%, 2.3%
13:00 PM ET 20-Year Bond Auction, 4.595%
16:00 PM ET US Foreign Buying, T-bonds (Jan), 33.80B
16:00 PM ET Overall Net Capital Flow (Jan), 139.80B
16:00 PM ET TIC Net Long-Term Transactions (Jan), 95.5B, 160.2B
16:00 PM ET TIC Net Long-Term Transactions including Swaps (Jan), 160.20B
16:30 PM ET API Weekly Crude Oil Stock, -5.521M

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