Dow stocks hitting 52-week highs include Apple (AAPL) 228.68 (+0.38%), Goldman Sachs (GS) 472.83 (+1.72%) and Walmart (WMT) 69.90 (+0.3.2%). Dow stock 52-week lows include McDonald’s (MCD) and 245.82 (-0.82%) and Nike (NKE) 72.46 (-0.81%).

The Market

Premarket today, the Dow was indicated to be up +27 points.

Tuesday the Dow closed down -52.82 (-0.13%) at 39,291.97.

Year-to-date the Dow is up +4.25%.

Tuesday, (11) Dow stocks were up, (2) made 52-week lows and (3) made 52-week highs.

The Dow stock winners Tuesday were led by Intel (INTC) 33.99 (+6.15%), Home Depot (HD) 339.60 (+1.50%) and Travelers (TRV) 204.23 (+1.17%).

The Dow stock losers Tuesday were led by Nike (NKE) 73.05 (-3.16%), Salesforce (CRM) 257.37 (-2.21%) and Visa (V) 266.40 (-1.46%).

The VIX closed Tuesday at 12.51 (+1.13%) and the 10 YR at 4.292 (-0.09%). The VIX is currently at 12.47 (-0.32%). The 10YR is at 4.278 (-0.37%).

Yesterday Federal Reserve Chair Jerome Powell cautioned that keeping rates elevated for too long could stunt economic growth.

Today is a light day for economic data, with a final wholesale inventories reading for May due ahead of the June consumer price index reading on Thursday. The June producer price index will follow on Friday.

3M (MMM) shares declined 1.2% after the company announced its finance chief Monish Patolawala is leaving the company “to pursue another opportunity.” The change is effective July 31.

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

The national average price of gasoline is up 1.9 cents at $3.538 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.

Amgen (AMGN) reports earnings on 8/6/24 after the market close.

Today’s Featured Dow Stock

McDonald’s (MCD)

McDonald’s (MCD) 245.82 (-0.82%) is down -17.10% in 2024.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 7.03%
07:00 AM ET MBA Mortgage Applications (WoW), -2.6%
07:00 AM ET MBA Purchase Index, 142.9
07:00 AM ET Mortgage Market Index, 206.5
07:00 AM ET Mortgage Refinance Index, 544.1
07:00 AM ET OPEC Monthly Report
10:00 AM ET Fed Chair Powell Testifies
10:00 AM ET Wholesale Inventories (MoM) (May), 0.6%, 0.1%
10:00 AM ET Wholesale Trade Sales (MoM) (May), 0.1%
10:30 AM ET Crude Oil Inventories, -0.250M, -12.157M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.260M
10:30 AM ET Crude Oil Imports, -0.555M
10:30 AM ET Cushing Crude Oil Inventories, 0.345M
10:30 AM ET Distillate Fuel Production, 0.204M
10:30 AM ET EIA Weekly Distillates Stocks, -0.300M, -1.535M
10:30 AM ET Gasoline Production, 0.180M
10:30 AM ET Heating Oil Stockpiles, -0.572M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 1.3%
10:30 AM ET Gasoline Inventories, -1.900M, -2.214M
11:00 AM ET Thomson Reuters IPSOS PCSI (Jul), 53.82
12:00 PM ET Atlanta Fed GDPNow (Q2), 1.5%, 1.5%
13:00 PM ET 10-Year Note Auction, 4.438%
14:30 PM ET Fed Goolsbee Speaks
14:30 PM ET FOMC Member Bowman Speaks
19:30 PM ET Fed Governor Cook Speaks