DJIA Market Happenings For Monday, March 25, 2024 – Cisco (CSCO) 49.78 Down -1.47% YTD

Dow stocks hitting 52-week highs include Caterpillar (CAT) 358.11 (-1.77%), Disney (DIS) 115.87 (-0.71%), Goldman Sachs (GS) 406.82 (-1.67%), JPMorgan (JPM) 196.62 (-1.23%) and Travelers (TRV) 224.45 (-0.74%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -46 points.

Friday the Dow closed down -305.47 (-0.77%) at 39,475.90.

Year-to-date the Dow is up +4.74%.

Friday, (6) Dow stocks were up, none made 52-week lows and (5) made 52-week highs.

The Dow stock winners Friday were led by Boeing (BA) 188.85 (+0.61%), Apple (AAPL) 172.28 (+0.53%) and Amazon (AMZN) 178.87 (+0.40%).

The Dow stock losers Friday were led by Nike (NKE) 93.86 (-6.90%), Visa (V) 283.26 (-2.45%) and Caterpillar (CAT) 358.11 (-1.77%).

The VIX closed Friday at 13.06 (+1.08%) and the 10 YR at 4.204 (-0.28%). The VIX is currently at 13.50 (+3.37%). The 10YR is at 4.222 (+0.14%).

It’s going to be a short trading week for the markets, which are closed on Good Friday. The Dow climbed just under 2% for its best week since December and came closer to the 40,000 level.

Over the weekend, President Joe Biden signed a $1.2 trillion spending package, avoiding a government shutdown. The budget will keep the government funded until Oct. 1 and ends a monthslong saga in which Congress struggled to secure a permanent budget resolution and instead passed stopgap measures to avoid shutdowns. Hardline House Republicans weren’t happy with the deal, and in the hours after the bill passed the House, far-right Georgia Republican Rep. Marjorie Taylor Greene filed a motion to oust House Speaker Mike Johnson, R-La.

Boeing (BA) rose +2.1% after announcing a broad leadership shakeup. The changes come amid a period of increased scrutiny and a reputational crisis for the company. CEO Dave Calhoun will leave his post at the end of 2024, part of a broad leadership shakeup for the embattled aero company. Larry Kellner, chairman of the board, is resigning and will leave the board at the company’s annual meeting in May. Stan Deal, president and CEO of Boeing Commercial Airplanes, has exited effective immediately.

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

The national average price of gasoline is up one-tenth of a cent at $3.534 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/21/24 after the market close with $0.98, beating estimates of $0.691 per share.

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.

Johnson & Johnson (JNJ) reports earnings on 4/16/24 before the market open.

UnitedHealth (UNH) reports earnings on 4/16/24 before the market open.

Travelers (TRV) reports earnings on 4/17/24 before the market open.

American Express (AXP) reports earnings on 4/19/24 before the market open.

Procter & Gamble (PG) reports earnings on 4/19/24 before the market open.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 49.78 (-0.20%) is down -1.47% in 2024.

Financial Calendar

08:00 AM ET Building Permits, 1.518M, 1.489M
08:00 AM ET Building Permits (MoM), 1.9%, -0.3%
08:25 AM ET FOMC Member Bostic Speaks
08:30 AM ET Chicago Fed National Activity (Feb), -0.30
10:00 AM ET New Home Sales (MoM) (Feb), 1.5%
10:00 AM ET New Home Sales (Feb), 675K, 661K
10:30 AM ET Dallas Fed Mfg Business Index (Mar), -11.3
10:30 AM ET Fed Governor Cook Speaks
11:30 AM ET 3-Month Bill Auction, 5.245%
11:30 AM ET 6-Month Bill Auction, 5.130%

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