DJIA Market Happenings For Friday, May 24, 2024 – McDonald’s (MCD) 257.93 Down -13.01% YTD

Dow stocks hitting 52-week highs include Microsoft (MSFT) 427.00 (-0.82%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +70 points.

Thursday the Dow closed down -605.78 (-1.53%) at 39,065.26.

Year-to-date the Dow is up +3.65%.

Thursday, (0) Dow stocks were up, none made 52-week lows and (1) made 52-week highs.

The Dow stock winners Thursday were not to be found. Yes, all 30 Dow stocks were down yesterday.

The Dow stock losers Thursday were led by Boeing (BA) 172.21 (-7.55%), Intel (INTC) 30.08 (-4.26%), McDonald’s (MCD) 257.93 (-2.95%), Johnson & Johnson (JNJ) 149.70 (-2.48%), Apple (AAPL) 186.88 (-2.11%) and Travelers (TRV) 212.24 (-1.99%).

The VIX closed Thursday at 12.77 (+3.91%) and the 10 YR at 4.463 (-0.20%). The VIX is currently at 12.61 (-1.25%). The 10YR is at 4.495 (+0.51%).

Demand for long-lasting items such as appliances, cars and airplanes was much stronger than expected in April, the Commerce Department reported Friday. Durable goods orders rose 0.7% for the month, slightly below the 0.8% increase in March but far better than the consensus estimate for a 1% decline. Excluding transportation items, orders still accelerated 0.4%. However, new orders were flat, excluding defense.

The percentage of investors who were bullish about the outlook for stocks over the next six months rose to a six-week high in the latest week, according to the American Association of Individual Investors. Bullishness climbed to 47% in the latest AAII poll, up from 40.9% last week, and stood above the historic average of 37.5% for the 28th week in 29, a stretch that goes back to the market low last October and the start of the current bull market. Bearish opinion about the next six months rose to 26.3% this week from 23.3% last week, the third time in six weeks it was below the historic average of 31%. Neutral sentiment that the market will be little changed over the next six months fell to 26.6% from 35.9% last week, and below the historic average of 31.5%.

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

The national average price of gasoline is down six-tenths of a cent at $3.609 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) reported earnings on 5/14/24 before the market open with $3.63, beating estimates of $3.611 per share.

Cisco (CSCO) reported earnings on 5/15/24 after the market close with $0.88, beating estimates of $0.699 per share.

Walmart (WMT) reported earnings on 5/16/24 before the market open with $0.60, beating estimates of $0.523 per share.

Salesforce (CRM) reports earnings on 5/29/24 after the market close.

Today’s Featured Dow Stock

McDonald’s (MCD)

McDonald’s (MCD) 257.93 (-2.95%) is down -13.01% in 2024.

Financial Calendar

08:30 AM ET Core Durable Goods Orders (MoM) (Apr), 0.1%, 0.2%
08:30 AM ET Durable Goods Orders (MoM) (Apr), -0.9%, 2.6%
08:30 AM ET Durables Excluding Defense (MoM) (Apr), 2.3%
08:30 AM ET Durables Excluding Transport (MoM), 0.2%
08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Apr), 0.1%, 0.2%
09:35 AM ET Fed Waller Speaks
10:00 AM ET Michigan 1-Year Inflation Expectations (May), 3.5%, 3.2%
10:00 AM ET Michigan 5-Year Inflation Expectations (May), 3.1%, 3.0%
10:00 AM ET Michigan Consumer Expectations (May), 66.5, 76.0
10:00 AM ET Michigan Consumer Sentiment (May), 67.4, 77.2
10:00 AM ET Michigan Current Conditions (May), 68.8, 79.0
10:30 AM ET Atlanta Fed GDPNow (Q2), 3.6%, 3.6%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 497
13:00 PM ET U.S. Baker Hughes Total Rig Count, 604
15:30 PM ET CFTC Aluminium speculative net positions, 1.3K
15:30 PM ET CFTC Copper speculative net positions, 61.8K
15:30 PM ET CFTC Corn speculative net positions, 0.2K
15:30 PM ET CFTC Crude Oil speculative net positions, 203.0K
15:30 PM ET CFTC Gold speculative net positions, 204.5K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 3.2K
15:30 PM ET CFTC Natural Gas speculative net positions, -116.6K
15:30 PM ET CFTC S&P 500 speculative net positions, -25.3K
15:30 PM ET CFTC Silver speculative net positions, 59.5K
15:30 PM ET CFTC Soybeans speculative net positions, -66.0K
15:30 PM ET CFTC Wheat speculative net positions, -5.4K

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