DJIA Market Happenings For Thursday, June 27, 2024 – Goldman Sachs (GS) 455.86 Up +17.86% YTD

Dow stocks hitting 52-week highs include Amazon (AMZN) 193.61 (+3.90%) and Microsoft (MSFT) 452.16 (+0.27%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -89 points.

Wednesday the Dow closed up +15.64 (+0.04%) at 39,127.80.

Year-to-date the Dow is up +3.82%.

Wednesday, (13) Dow stocks were up, none made 52-week lows and (2) made 52-week highs.

The Dow stock winners Wednesday were led by Amazon (AMZN) 193.61 (+3.90%), Apple (AAPL) 213.25 (+2.00%) and Boeing (BA) 178.50 (+1.94%).

The Dow stock losers Wednesday were led by Amgen (AMGN) 312.82 (-2.03%), Chevron (CVX) 155.95 (-1.58%) and Travelers (TRV) 205.74 (-1.43%).

The VIX closed Wednesday at 12.55 (-2.26%) and the 10 YR at 4.340 (+0.56%). The VIX is currently at 12.59 (+0.32%). The 10YR is at 4.302 (-0.32%).

Yesterday, Amazon (AMZN) shares jumped 3.9%, hitting an all-time high and topping a $2 trillion market cap for the first time.

The Commerce Department’s third and final estimate for Q1 gross domestic product showed a seasonally adjusted annualized gain of 1.4%. That was 0.1 percentage point higher than the previous estimate but in line with the Dow Jones estimate.

Chain-weighted prices rose 3.1% in Q1, up from 3% previously. The personal consumption expenditures price index, which the Federal Reserve pegs as its preferred inflation gauge, rose 3.4% on all-items and 3.7% on the core, both 0.1 percentage point above the previous estimate.

First-time claims for unemployment insurance for the week ending June 22 totaled 233,000, down 6,000 from the previous week and below the 235,000 estimate, the Labor Department reported. Continuing claims, which run a week behind, rose to 1.839 million, the highest level since Nov. 27, 2021.

New orders for “durable goods,” or long-last items such as aircraft, appliances and computers, unexpectedly increased 0.1% in May, below the downwardly revised 0.2% increase in April but better than the estimate for a 1% decline, according to the Census Bureau. Excluding defense, new orders were off 0.2% and down 0.1% ex-transportation.

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

The national average price of gasoline is up nine-tenths of a cent at $3.503 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 6/27/24 after the market close.

JPMorgan (JPM) reports earnings on 7/12/24 before the market open.

Goldman Sachs (GS) reports earnings on 7/15/24 before the market open.

UnitedHealth (UNH) reports earnings on 7/15/24 before the market open.

Johnson & Johnson (JNJ) reports earnings on 7/17/24 before the market open.

American Express (AXP) reports earnings on 7/19/24 before the market open.

Travelers (TRV) reports earnings on 7/19/24 before the market open.

Coca Cola (KO) reports earnings on 7/23/24 before the market open.

Verizon) reports earnings on 7/23/24 before the market open.

Visa (V) reports earnings on 7/23/24 after the market close.

IBM (IBM) reports earnings on 7/23/24 after the market close.

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) 455.86 (-0.33%) is up +17.86% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,820K, 1,828K
08:30 AM ET Core Durable Goods Orders (MoM) (May), 0.2%, 0.4%
08:30 AM ET Core PCE Prices (Q1), 3.60%, 2.00%
08:30 AM ET Corporate Profits (QoQ) (Q1), -1.7%, 3.9%
08:30 AM ET Durable Goods Orders (MoM) (May), -0.5%, 0.7%
08:30 AM ET Durables Excluding Defense (MoM) (May), 0.0%
08:30 AM ET Durables Excluding Transport (MoM), 0.4%
08:30 AM ET GDP (QoQ) (Q1), 1.3%, 3.4%
08:30 AM ET GDP Price Index (QoQ) (Q1), 3.1%, 1.7%
08:30 AM ET GDP Sales (Q1), 1.7%, 3.9%
08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (May), 0.3%
08:30 AM ET Goods Trade Balance (May), -96.00B, -99.41B
08:30 AM ET Initial Jobless Claims, 236K, 238K
08:30 AM ET Jobless Claims 4-Week Avg., 232.75K
08:30 AM ET PCE Prices (Q1), 3.3%, 1.8%
08:30 AM ET Real Consumer Spending (Q1), 2.0%, 3.3%
08:30 AM ET Retail Inventories Ex Auto (May), 0.3%
08:30 AM ET Wholesale Inventories (MoM), 0.1%, 0.1%
10:00 AM ET Pending Home Sales (MoM) (May), 0.6%, -7.7%
10:00 AM ET Pending Home Sales Index (May), 72.3
10:30 AM ET Atlanta Fed GDPNow (Q2), 3.0%, 3.0%
10:30 AM ET Natural Gas Storage, 53B, 71B
11:00 AM ET KC Fed Composite Index (Jun), -2
11:00 AM ET KC Fed Manufacturing Index (Jun), -1
11:30 AM ET 4-Week Bill Auction, 5.230%
11:30 AM ET 8-Week Bill Auction, 5.260%
13:00 PM ET 7-Year Note Auction, 4.650%
16:30 PM ET Fed Bank Stress Test Results

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