DJIA Market Happenings For Wednesday, July 3, 2024 – Intel (INTC) 31.07 Down -38.17% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 220.27 (+1.62%), Amazon (AMZN) 200.00 (+1.42%), JPMorgan (JPM) 208.83 (+1.65%) and Microsoft (MSFT) 459.28 (+0.56%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -18 points.

Tuesday the Dow closed up +162.33 (+0.41%) at 39,331.85.

Year-to-date the Dow is up +4.36%.

Tuesday, (17) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Tuesday were led by Merck (MRK) 127.90 (+3.31%), Apple (AAPL) 216.75 (+2.91%) and Boeing (BA) 186.70 (+2.58%).

The Dow stock losers Tuesday were led by UnitedHealth (UNH) 494.65 (-2.87%), Home Depot (HD) 336.19 (-2.34%) and McDonald’s (MCD) 249.99 (-1.90%).

The VIX closed Tuesday at 12.03 (-1.55%) and the 10 YR at 4.420 (-0.20%). The VIX is currently at 12.13 (+0.83%). The 10YR is at 4.398 (-0.70%).

Exchanges close early today at 1 p.m. ET and will be shut on Thursday for Independence Day.

Initial claims for unemployment insurance edged higher for the week ending June 29, the Labor Department reported Wednesday. First-time filings totaled 238,000 for the period, up 4,000 from the previous week and higher than the Dow Jones estimate for 233,000. On continuing claims, which run a week behind, the total of 1.858 million represented an increase of 26,000 and was the highest total since Nov. 27, 2021.

Private payrolls increased by 150,000 in June, less than forecast and the lowest total since January, according to an ADP report Wednesday. The total was less than the 160,000 Dow Jones estimate and below the upwardly revised 157,000 from May. Leisure and hospitality led with 63,000 jobs, followed by construction and professional and business services. Also, wage growth slowed to a 4.9% pace from a year ago, the smallest increase since August 2021.

Minutes from the policy-setting Federal Open Market Committee’s June meeting will be posted an hour after Wednesday’s closing bell.

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

The national average price of gasoline is up 1.2 cents at $3.513 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/27/24 after the market close with $1.01, beating estimates of $0.83 per share.

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 (VZ) 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.

Intel (INTC) reports earnings on 7/25/24 after the market close.

Dow (DOW) reports earnings on 7/25/24 before the market open.

Honeywell (HON) reports earnings on 7/25/24 before the market open.

McDonald’s (MCD) reports earnings on 7/29/24 before the market open.

3M (MMM) reports earnings on 7/30/24 before the market open.

Caterpillar (CAT) reports earnings on 7/30/24 before the market open.

Merck (MRK) reports earnings on 7/30/24 before the market open.

Procter & Gamble (PG) reports earnings on 7/30/24 before the market open.

Microsoft (MSFT) reports earnings on 7/30/24 after the market close.

Today’s Featured Dow Stock

Intel (INTC)

Intel (INTC) 31.07 (+0.75%) is down -38.17% in 2024.

Financial Calendar

07:00 AM ET FOMC Member Williams Speaks
07:00 AM ET MBA 30-Year Mortgage Rate, 6.93%
07:00 AM ET MBA Mortgage Applications (WoW), 0.8%
07:00 AM ET MBA Purchase Index, 147.8
07:00 AM ET Mortgage Market Index, 212.0
07:00 AM ET Mortgage Refinance Index, 552.4
07:30 AM ET Challenger Job Cuts (Jun), 63.816K
07:30 AM ET Challenger Job Cuts (YoY), -20.3%
08:15 AM ET ADP Nonfarm Employment Change (Jun), 159K, 152K
08:30 AM ET Continuing Jobless Claims, 1,840K, 1,839K
08:30 AM ET Initial Jobless Claims, 235K, 233K
08:30 AM ET Jobless Claims 4-Week Avg., 236.00K
08:30 AM ET Trade Balance (May), -76.00B, -74.60B
09:45 AM ET S&P Global Composite PMI (Jun), 54.6, 54.5
09:45 AM ET S&P Global Services PMI (Jun), 55.1, 54.8
10:00 AM ET Durables Excluding Defense (MoM) (May), -0.2%
10:00 AM ET Durables Excluding Transport (MoM) (May), -0.1%
10:00 AM ET Factory Orders (MoM) (May), 0.2%, 0.7%
10:00 AM ET Factory orders ex transportation (MoM) (May), 0.3%, 0.7%
10:00 AM ET ISM Non-Manufacturing Business Activity (Jun), 61.2
10:00 AM ET ISM Non-Manufacturing Employment (Jun), 47.1
10:00 AM ET ISM Non-Manufacturing New Orders (Jun), 54.1
10:00 AM ET ISM Non-Manufacturing PMI (Jun), 52.7, 53.8
10:00 AM ET ISM Non-Manufacturing Prices (Jun), 58.1
10:00 AM ET Total Vehicle Sales, 15.90M
10:00 AM ET Total Vehicle Sales, 15.80M, 15.90M
10:30 AM ET Crude Oil Inventories, -0.150M, 3.591M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.233M
10:30 AM ET Crude Oil Imports, 0.065M
10:30 AM ET Cushing Crude Oil Inventories, -0.226M
10:30 AM ET Distillate Fuel Production, 0.142M
10:30 AM ET EIA Weekly Distillates Stocks, -1.100M, -0.377M
10:30 AM ET Gasoline Production, -0.289M
10:30 AM ET Heating Oil Stockpiles, 0.406M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -1.3%
10:30 AM ET Gasoline Inventories, -1.500M, 2.654M
11:30 AM ET 4-Week Bill Auction, 5.270%
11:30 AM ET 8-Week Bill Auction, 5.260%
12:00 AM ET Atlanta Fed GDPNow (Q2), 1.7%, 1.7%
12:00 AM ET Natural Gas Storage, 52B
14:00 AM ET FOMC Meeting Minutes

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