The Dow Market Happenings For Friday, May 3, 2024 – Boeing (BA) 178.85 Down -31.39% YTD

Dow stocks hitting 52-week highs include Goldman Sachs (GS) 432.57 (+1.32%) and Procter & Gamble (PG) 163.84 (+0.27%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +473 points.

Thursday the Dow closed up +322.37 (+0.85%) at 38,225.66.

Year-to-date the Dow is up +1.42%.

Thursday, (21) Dow stocks were up, none made 52-week lows and (2) made 52-week highs.

The Dow stock winners Thursday were led by Boeing (BA) 178.85 (+4.31%), Amazon (AMZN) 184.72 (+3.20%) and Nike (NKE) 92.41 (+2.29%).

The Dow stock losers Thursday were led by 3M (MMM) 96.81 (-1.66%), Honeywell (HON) 193.64 (-0.85%) and Johnson & Johnson (JNJ) 149.92 (-0.83%).

The VIX closed Thursday at 14.68 (-4.61%) and the 10 YR at 4.565 (+0.18%). The VIX is currently at 14.99 (-2.60%). The 10YR is at 4.602 (+0.46%).

Friday’s nonfarm payrolls report showed 175,000 jobs gained in April, below the 240,000 jobs expected by economists. The unemployment rate edged up to 3.9%, versus 3.8% in the prior month, according to the Bureau of Labor Statistics. Wage figures were also less than expected, an encouraging sign for inflation. Revisions to February and March jobs numbers decreased the cumulative jobs added in those periods by 22,000.

Apple (AAPL) advanced more than 6% after it announced a $110 billion share repurchase and a top and bottom-line beat. Apple’s fiscal second-quarter earnings came in at $1.53 per share, while revenue was $90.75 billion. That surpassed analysts’ estimates for earnings of $1.50 per share on revenue of $90.01 billion.

Amgen (AMGN) shares soared 12% after the biotech firm posted a first-quarter earnings and revenue beat. Amgen posted adjusted earnings of $3.96 per share on revenue of $7.45 billion in the first quarter. Analysts had anticipated earnings of $3.87 per share and revenue of $7.44 billion. The company also said it would move its injectable obesity drug into a phase 3 trial, but it will no longer pursue an experimental weight loss pill it had in development.

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

The national average price of gasoline is down four-tenths of a cent at $3.667 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) reported earnings on 4/19/24 before the market open with $3.33, beating estimates of $2.965 per share.

Procter & Gamble (PG) reported earnings on 4/19/24 before the market open with $1.52, beating estimates of $1.418 per share.

Verizon (VZ) reported earnings on 4/22/24 before the market open with $1.15, beating estimates of $1.12 per share.

Visa (V) reported earnings on 4/23/24 after the market close with $2.51, beating estimates of $2.426 per share.

Boeing (BA) reported earnings on 4/24/24 before the market open with -$1.13, beating estimates of -$1.429 per share.

IBM (IBM) reported earnings on 4/24/24 after the market close with $1.68, beating estimates of $1.589 per share.

Caterpillar (CAT) reported earnings on 4/25/24 before the market open with $5.60, beating estimates of $5.118 per share.

Dow (DOW) reported earnings on 4/25/24 before the market open with $0.56, beating estimates of $0.473 per share.

Honeywell (HON) reported earnings on 4/25/24 before the market open with $2.25, beating estimates of $2.176 per share.

Merck (MRK) reported earnings on 4/25/24 before the market open with $2.07, beating estimates of $1.936 per share.

Intel (INTC) reported earnings on 4/25/24 after the market close with $0.18, beating estimates of -$0.035 per share.

Microsoft (MSFT) reported earnings on 4/25/24 after the market close with $2.94, beating estimates of $2.815 per share.

Chevron (CVX) reports earnings on 4/26/24 before the market open with $2.93, beating estimates of $2.837 per share.

3M (MMM) reported earnings on 4/30/24 before the market open with $2.39, beating estimates of $2.082 per share.

Coca Cola (KO) reported earnings on 4/30/24 before the market open with $0.74, beating estimates of $0.694 per share.

McDonald’s (MCD) reported earnings on 4/30/24 before the market open with $2.66, beating estimates of $2.712 per share.

Amazon (AMZN) reports earnings on 4/30/24 after the market close with $0.98, beating estimates of $0.809 per share.

Amgen (AMGN) reported earnings on 5/2/24 after the market close with $3.96, beating estimates of $3.756 per share.

Apple (AAPL) reported earnings on 5/2/24 after the market close with $1.53, beating estimates of $1.507 per share.

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.

Cisco (CSCO) reports earnings on 5/15/24 after the market close.

Walmart (WMT) reports earnings on 5/16/24 before the market open.

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) 178.85 (+4.31%) is down -31.39% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,774K, 1,800K, 1,774K
08:30 AM ET Exports, 257.60B, 263.00B
08:30 AM ET Imports, 327.00B, 331.90B
08:30 AM ET Initial Jobless Claims, 208K, 212K, 208K
08:30 AM ET Jobless Claims 4-Week Avg., 210.00K, 213.50K
08:30 AM ET Nonfarm Productivity (QoQ) (Q1), 0.3%, 0.8%, 3.5%
08:30 AM ET Trade Balance (Mar), -69.40B, -69.50B, -69.50B
08:30 AM ET Unit Labor Costs (QoQ) (Q1), 4.7%, 3.6%, 0.4%
10:00 AM ET All Car Sales (Apr), 3.04M, 3.02M
10:00 AM ET All Truck Sales (Apr), 12.69M, 12.54M
10:00 AM ET Durables Excluding Defense (MoM) (Mar), 2.3%, 2.3%
10:00 AM ET Durables Excluding Transport (MoM) (Mar), 0.2%, 0.3%
10:00 AM ET Factory Orders (MoM) (Mar), 1.6%, 1.6%, 1.2%
10:00 AM ET Factory orders ex transportation (MoM) (Mar), 0.5%, 0.2%, 1.1%
10:30 AM ET Natural Gas Storage, 59B, 68B, 92B
11:30 AM ET 4-Week Bill Auction, 5.275%, 5.275%
11:30 AM ET 8-Week Bill Auction, 5.270%, 5.275%
16:30 PM ET Fed’s Balance Sheet, 7,362B, 7,402B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.317T, 3.272T

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