The Dow Market Happenings For Thursday, May 9, 2024 – Chevron (CVX) 162.54 Up +8.97% YTD

Dow stocks hitting 52-week highs include Goldman Sachs (GS) 446.95 (+0.71%) and Procter & Gamble (PG) 165.07 (-0.42%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -75 points.

Wednesday the Dow closed up +172.13 (+0.44%) at 39,056.39.

Year-to-date the Dow is up +3.63%.

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

The Dow stock winners Wednesday were led by Amgen (AMGN) 307.31 (+2.33%), Boeing (BA) 180.35 (+2.06%) and JPMorgan (JPM) 195.65 (+2.30%).

The Dow stock losers Wednesday were led by Intel (INTC) 30.00 (-2.22%), Merck (MRK) 129.55 (-0.64%) and Home Depot (HD) 338.83 (-0.55%).

The VIX closed Wednesday at 13.00 (-1.74%) and the 10 YR at 4.486 (+0.79%). The VIX is currently at 13.17 (+1.31%). The 10YR is at 4.497 (+0.38%).

Initial filings for unemployment benefits hit their highest level since late August 2023 in a potential sign that an otherwise robust labor market is changing. Jobless claims totaled a seasonally adjusted 231,000 for the week ended May 4, up 22,000 from the previous period and higher than an estimate for 214,000, the Labor Department reported Thursday. This has sent yields lower and raised expectations that central bankers might cut interest rates at some point this year.

Disney (DIS) and Warner Bros. Discovery, are teaming up to offer their streaming services in a bundle, the entertainment giants announced on Wednesday evening. The bundle will bring together the companies’ streaming services — Disney+, Hulu and Max — in one package this summer. The offering will be available on the ad-supported and commercial-free tiers.

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

The national average price of gasoline is up two-tenths of a cent at $3.642 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) reported earnings on 5/7/24 before the market open with $1.21, beating estimates of $1.117 per share.

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

Chevron (CVX)

Chevron (CVX) 162.54 (-0.08%) is up +8.97% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,790K, 1,774K
08:30 AM ET Initial Jobless Claims, 212K, 208K
08:30 AM ET Jobless Claims 4-Week Avg., 210.00K
10:30 AM ET Natural Gas Storage, 87B, 59B
11:00 AM ET Thomson Reuters IPSOS PCSI (May), 53.44
11:30 AM ET 4-Week Bill Auction, 5.275%
11:30 AM ET 8-Week Bill Auction, 5.270%
13:00 PM ET 30-Year Bond Auction, 4.671%
14:00 PM ET FOMC Member Daly Speaks
16:30 PM ET Fed’s Balance Sheet, 7,362B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.317T

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