The Dow Market Happenings For Thursday, July 11, 2024 – 3M (MMM) 101.67 Up +11.24% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 232.98 (+1.88%), Goldman Sachs (GS) 478.89 (+1.28%) and Walmart (WMT) 70.41 (+0.73%). Dow stock 52-week lows include Nike (NKE) 72.54 (+0.11%).

The Market

Premarket today, the Dow was indicated to be down -2 points.

Wednesday the Dow closed up +429.39 (+1.09%) at 39,721.36.

Year-to-date the Dow is up +5.39%.

Wednesday, (28) Dow stocks were up, (1) made 52-week lows and (3) made 52-week highs.

The Dow stock winners Wednesday were led by Home Depot (HD) 344.18 (+2.10%), Travelers (TRV) 207.19 (+1.99%), 3M (MMM) 101.67 (+1.99%) and McDonald’s (MCD) 250.49 (+1.90%).

The Dow stock losers Wednesday were VISA (V) 263.00 (-0.92%) and Disney (DIS) 96.97 (-0.08%).

The VIX closed Wednesday at 12.85 (+2.72%) and the 10 YR at 4.283 (+0.16%). The VIX is currently at 12.56 (-2.26%). The 10YR is at 4.185 (-2.13%).

The consumer price index fell 0.1% last month from May, bringing the annual inflation rate down to 3%. Economists had expected a 0.1% monthly increase and a 3.1% annual rate. Core CPI, which excludes food and energy, came in at a 3.3% annual rate, also lower than economists expected.

Treasury yields tumbled following the CPI data as traders upped their bets for interest rate cuts. So maybe the Federal Reserve will cut interest rates as early as September, and potentially again in December.

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

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.

Disney (DIS) reports earnings on 8/7/24 before the market open.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 101.67 (+1.99%) is up +11.24% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,860K, 1,858K
08:30 AM ET Core CPI (MoM) (Jun), 0.2%, 0.2%
08:30 AM ET Core CPI (YoY) (Jun), 3.4%, 3.4%
08:30 AM ET Core CPI Index (Jun), 318.14
08:30 AM ET CPI (YoY) (Jun), 3.1%, 3.3%
08:30 AM ET CPI (MoM) (Jun), 0.1%, 0.0%
08:30 AM ET CPI Index, n.s.a. (Jun), 314.61, 314.07
08:30 AM ET CPI Index, s.a (Jun), 313.23
08:30 AM ET CPI, n.s.a (MoM) (Jun), 0.17%
08:30 AM ET Initial Jobless Claims, 236K, 238K
08:30 AM ET Jobless Claims 4-Week Avg., 238.50K
08:30 AM ET Real Earnings (MoM) (Jun), 0.4%
10:30 AM ET Natural Gas Storage, 56B, 32B
11:00 AM ET Cleveland CPI (MoM) (Jun), 0.2%
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.275%
11:30 AM ET FOMC Member Bostic Speaks
13:00 PM ET 30-Year Bond Auction, 4.403%
14:00 PM ET Federal Budget Balance (Jun), -71.2B, -347.0B
16:30 PM ET Fed’s Balance Sheet, 7,222B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.322T

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