DJIA Market Happenings For Monday, July 8, 2024 – JPMorgan (JPM) 204.79 Up +20.39% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 226.34 (+2.16%), Amazon (AMZN) 200.00 (+1.22%), Microsoft (MSFT) 467.46 (+1.47%) and Walmart (WMT) 70.04 (+2.64%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +81 points.

Friday the Dow closed up +67.87 (+0.17%) at 39,375.87.

Year-to-date the Dow is up +4.47%.

Friday, (19) Dow stocks were up, none made 52-week lows and (4) made 52-week highs.

The Dow stock winners Friday were led by Salesforce (CRM) 260.95 (+1.86%), McDonald’s (MCD) 250.00 (+0.89%) and Caterpillar (CAT) 330.61 (+0.87%).

The Dow stock losers Friday were led by UnitedHealth (UNH) 489.89 (-1.68%), Merck (MRK) 125.85 (-1.46%) and Amazon (AMZN) 197.59 (-1.21%).

The VIX closed Friday at 12.48 (0.00%) and the 10 YR at 4.274 (+0.19%). The VIX is currently at 12.60 (+0.96%). The 10YR is at 4.281 (+0.35%).

This week we get the CPI on Thursday.

Last week, labor data reflected a slightly cooling labor market, spurring expectations of a rate cut. But although the U.S. economy added more jobs in June than anticipated, there was also an unexpected rise in the unemployment rate, to 4.1% from 4%. Traders are currently expecting two interest rate cuts in 2024, with the first in September.

Boeing (BA) agreed to plead guilty to a criminal fraud charge months after federal prosecutors alleged the plane-maker violated a 2021 settlement that shielded it from prosecution. Under the deal announced late Sunday, Boeing would pay a $243.6 million fine, install an independent compliance monitor for three years and invest at least $455 million in compliance and safety programs. The agreement needs to be approved by a federal judge before taking effect. In 2021, Boeing reached a $2.5 billion settlement with the Justice Department over charges related to the fatal 737 Max crashes. That agreement included the original $243.6 million criminal fine, compensation to airlines and a $500 million fund for victims’ families. A lawyer for the victims’ family members said he plans to ask the federal judge on the case to reject the deal and set the matter for public trial.

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

The national average price of gasoline is unchanged at $3.506 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 7/16/24 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.

Verizon (VZ) reports earnings on 7/22/24 before the market open.

Coca Cola (KO) 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.

Boeing (BA) reports earnings on 7/31/24 before the market open.

Apple (AAPL) reports earnings on 8/1/24 after the market close.

Amazon (AMZN) reports earnings on 8/1/24 after the market close.

Chevron (CVX) reports earnings on 8/2/24 before the market open.

Today’s Featured Dow Stock

JPMorgan (JPM)

JPMorgan (JPM) 204.79 (-1.33%) is up +20.39% in 2024.

Financial Calendar

10:00 AM ET CB Employment Trends Index (Jun), 111.44
10:00 AM ET Total Vehicle Sales, 15.80M, 15.90M
11:00 AM ET NY Fed 1-Year Consumer Inflation Expectations, 3.2%
11:30 AM ET 3-Month Bill Auction, 5.240%
11:30 AM ET 6-Month Bill Auction, 5.115%
15:00 PM ET Consumer Credit (May), 10.70B, 6.40B
15:30 PM ET CFTC Aluminium speculative net positions, 2.3K
15:30 PM ET CFTC Copper speculative net positions, 50.1K
15:30 PM ET CFTC Corn speculative net positions, -169.8K
15:30 PM ET CFTC Crude Oil speculative net positions, 271.2K
15:30 PM ET CFTC Gold speculative net positions, 246.2K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 7.4K
15:30 PM ET CFTC Natural Gas speculative net positions, -89.3K
15:30 PM ET CFTC S&P 500 speculative net positions, -65.2K
15:30 PM ET CFTC Silver speculative net positions, 56.0K
15:30 PM ET CFTC Soybeans speculative net positions, -111.2K
15:30 PM ET CFTC Wheat speculative net positions, -44.5K

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