The Dow Market Happenings For Wednesday, April 17, 2024 – Microsoft (MSFT) 414.58 Up +10.25% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Johnson & Johnson (JNJ) 144.45 (-2.13%).

The Market

Premarket today, the Dow was indicated to be up +50 points.

Tuesday the Dow closed up +63.86 (+0.17%) at 37,798.97.

Year-to-date the Dow is up +0.29%.

Tuesday, (11) Dow stocks were up, (1) made 52-week lows and none made 52-week highs.

The Dow stock winners Tuesday were led by Goldman Sachs (GS) 400.88 (+2.92%), Intel (INTC) 36.31 (+1.74%) and UnitedHealth (UNH) 445.63 (+1.46%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 272.90 (-7.28%), Apple (AAPL) 172.69 (-2.19%) and Microsoft (MSFT) 413.64 (-1.96%).

The VIX closed Tuesday at 18.40 (-4.32%) and the 10 YR at 4.665 (+0.24%). The VIX is currently at 17.84 (-3.04%). The 10YR is at 4.609 (-0.97%).

Federal Reserve Chair Jerome Powell said inflation has not come down to the central bank’s goal.

President Joe Biden will call on the U.S. Trade Representative to triple China’s tariffs on steel and aluminum imports. Biden’s proposal to raise the current 7.5% average rate comes as his administration has warned China about its trade practices. A senior administration official said Tuesday that the increased tariffs would protect jobs and not lead to higher inflation. Biden is expected to visit the United Steelworkers headquarters in Pittsburgh Wednesday, where he will call for the tariff hike.

Travelers (TRV) tumbled nearly 6% after the insurance company reporting disappointing earnings and revenue for its first quarter. Travelers said the earnings miss was driven by an elevated level of catastrophe losses.

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

The national average price of gasoline is up 1.6 cents at $3.660 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) reported earnings on 4/12/24 before the market open with $4.44, beating estimates of $4.184 per share.

Goldman Sachs (GS) reported earnings on 4/15/24 before the market open with $6.91, beating estimates of $6.633 per share.

Johnson & Johnson (JNJ) reported earnings on 4/16/24 before the market open with $2.71, beating estimates of $2.639 per share.

UnitedHealth (UNH) reported earnings on 4/16/24 before the market open with $6.91, beating estimates of $6.633 per share.

Travelers (TRV) reported earnings on 4/17/24 before the market open with $4.69, beating estimates of $4.746 per share.

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.

Coca Cola (KO) reports earnings on 4/22/24 before the market open.

Verizon (VZ) reports earnings on 4/22/24 before the market open.

Microsoft (MSFT) reports earnings on 4/23/24 after the market close.

Visa (V) reports earnings on 4/23/24 after the market close.

Boeing (BA) reports earnings on 4/24/24 before the market open.

IBM (IBM) reports earnings on 4/24/24 after the market close.

Caterpillar (CAT) reports earnings on 4/25/24 before the market open.

Dow (DOW) reports earnings on 4/25/24 before the market open.

Honeywell (HON) reports earnings on 4/25/24 before the market open.

Merck (MRK) reports earnings on 4/25/24 before the market open.

Intel (INTC) reports earnings on 4/25/24 after the market close.

Amazon (AMZN) reports earnings on 4/25/24 after the market close.

Chevron (CVX) reports earnings on 4/26/24 before the market open.

3M (MMM) reports earnings on 4/30/24 before the market open.

Coca Cola (KO) reports earnings on 4/30/24 before the market open.

McDonald’s (MCD) reports earnings on 4/30/24 before the market open.

Amgen (AMGN) reports earnings on 5/2/24 after the market close.

Apple (AAPL) reports earnings on 5/2/24 after the market close.

Disney (DIS) reports earnings on 5/7/24 before the market open.

Home Depot (HD) reports earnings on 5/14/24 before the market open.

Today’s Featured Dow Stock

Microsoft (MSFT)

Microsoft (MSFT) 414.58 (+0.23%) is up +10.25% in 2024.

Financial Calendar

05:00 AM ET IMF Meetings
07:00 AM ET MBA 30-Year Mortgage Rate, 7.01%
07:00 AM ET MBA Mortgage Applications (WoW), 0.1%
07:00 AM ET MBA Purchase Index, 138.7
07:00 AM ET Mortgage Market Index, 195.7
07:00 AM ET Mortgage Refinance Index, 498.3
08:00 AM ET Milk Auctions, 3,558.0
10:30 AM ET Crude Oil Inventories, 5.841M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.115M
10:30 AM ET Crude Oil Imports, 1.130M
10:30 AM ET Cushing Crude Oil Inventories, -0.170M
10:30 AM ET Distillate Fuel Production, 0.033M
10:30 AM ET EIA Weekly Distillates Stocks, 1.659M
10:30 AM ET Gasoline Production, -0.538M
10:30 AM ET Heating Oil Stockpiles, 0.478M 10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.3%
10:30 AM ET Gasoline Inventories, 0.715M
13:00 PM ET 20-Year Bond Auction, 4.542%
14:00 PM ET Beige Book
16:00 PM ET US Foreign Buying, T-bonds (Feb), 67.80B
16:00 PM ET Overall Net Capital Flow (Feb), -8.80B
16:00 PM ET TIC Net Long-Term Transactions (Feb), 40.2B, 36.1B
16:00 PM ET TIC Net Long-Term Transactions including Swaps (Feb), 40.20B, 36.10B
17:30 PM ET FOMC Member Mester Speaks
18:30 PM ET FOMC Member Bowman Speaks

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