DJIA Market Happenings For Wednesday, May 29, 2024 – Merck (MRK) 126.09 Up +15.66% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Cisco (CSCO) 46.28 (-0.30).

The Market

Premarket today, the Dow was indicated to be down -274 points.

Tuesday the Dow closed down -216.73 (-0.55%) at 38,852.86.

Year-to-date the Dow is up +3.09%.

Tuesday, (10) Dow stocks were up, (1) made 52-week lows and none made 52-week highs.

The Dow stock winners Tuesday were led by Home Depot (HD) 328.70 (+1.11%), Intel (INTC) 31.06 (+1.11%) and Chevron (CVX) 159.04 (+0.82%).

The Dow stock losers Tuesday were led by Merck (MRK) 126.09 (-2.63%), Amgen (AMGN) 300.19 (-1.85%) and McDonald’s (MCD) 253.54 (-1.77%).

The VIX closed Tuesday at 12.92 (+4.53%) and the 10 YR at 4.543 (+0.11%). The VIX is currently at 14.16 (+9.60%). The 10YR is at 4.579 (+0.90%).

Nothing happening with Dow stocks this morning.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.05% from 7.01%. Refinance demand plunged 14% for the week but was still 12% higher than the same week one year ago. Applications for a mortgage to purchase a home fell 1% for the week and were 10% lower than the same week one year ago.

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

The national average price of gasoline is down 1.1 cents at $3.575 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

Merck (MRK)

Merck (MRK) 126.09 (-2.63%) is up +15.66% in 2024.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 7.01%
07:00 AM ET MBA Mortgage Applications (WoW), 1.9%
07:00 AM ET MBA Purchase Index, 140.0
07:00 AM ET Mortgage Market Index, 201.9
07:00 AM ET Mortgage Refinance Index, 536.9
08:55 AM ET Redbook (YoY), 5.5%
10:00 AM ET Richmond Manufacturing Index (May), -6, -7
10:00 AM ET Richmond Manufacturing Shipments (May), -10
10:00 AM ET Richmond Services Index (May), -13
10:30 AM ET Dallas Fed Services Revenues (May), 0.3
10:30 AM ET Texas Services Sector Outlook (May), -10.6
13:00 PM ET 7-Year Note Auction, 4.716%
13:45 PM ET FOMC Member Williams Speaks
14:00 PM ET Beige Book
16:30 PM ET API Weekly Crude Oil Stock, 2.480M
19:00 PM ET FOMC Member Bostic Speaks

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