There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Nike (NKE) 71.09 (-3.15%).

The Market

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

Wednesday the Dow closed down -504.22 (-1.25%) at 39,853.87.

Year-to-date the Dow is up +5.74%.

Wednesday, (9) Dow stocks were up, (1) made 52-week lows and none made 52-week highs.

The Dow stock winners Wednesday were led by Johnson & Johnson (JNJ) 156.28 (+2.58%), Verizon (VZ) 39.67 (+2.01%) and Coca Cola (KO) 65.81 (+1.31%).

The Dow stock losers Wednesday were led by Visa (V) 254.17 (-4.01%), Intel (INTC) 31.70 (-3.79%) and Microsoft (MSFT) 428.90 (-3.59%).

The VIX closed Wednesday at 18.04 (+22.55%) and the 10 YR at 4.267 (-0.37%). The VIX is currently at 18.09 (+0.28%). The 10YR is at 4.257 (-0.67%).

Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists had been looking for growth of 2.1% following a 1.4% increase in the first quarter. Consumer spending helped propel the growth number higher, as did contributions from private inventory investment and nonresidential fixed investment. Personal consumption expenditures, the main proxy in the Bureau of Economic Analysis report for consumer activity, increased 2.3% for the quarter, up from the 1.5% acceleration in Q1. Both services and goods spending saw solid increases for the quarter. On the downside, imports, which subtract from GDP, jumped 6.9%, the biggest quarterly rise since Q1 of 2022.

Next week we get week the Federal Reserve’s next policy meeting. Investors largely forecast the central bank to keep rates steady, but expectations for a September rate cut have been on the rise.

Honeywell (HON) shares were down -4.5% after the industrial giant issued guidance that missed analyst expectations, overshadowing better-than-anticipated quarterly figures. The company sees third-quarter earnings per share in a range of $2.45 to $2.55. That’s below a forecast of $2.58 per share. For the second quarter, Honeywell earned $2.49 per share on revenue of $9.58 billion. Analysts expected a profit of $2.42 per share on revenue of $9.41 billion.

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

The national average price of gasoline is up eight-tenths of a cent at $3.521 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) reported earnings on 7/12/24 before the market open with $6.12, beating estimates for $4.192 per share.

Goldman Sachs (GS) reports earnings on 7/15/24 before the market open with $8.62, beating estimates for $8.522 per share.

UnitedHealth (UNH) reported earnings on 7/16/24 before the market open with $6.80, beating estimates for $6.646 per share.

Johnson & Johnson (JNJ) reported earnings on 7/17/24 before the market open with $2.82, beating estimates for $2.71 per share.

American Express (AXP) reported earnings on 7/19/24 before the market open with $3.49, beating estimates for $3.24 per share.

Travelers (TRV) reported earnings on 7/19/24 before the market open with $2.51, beating estimates for $2.224 per share.

Verizon (VZ) reported earnings on 7/22/24 before the market open with $1.15, beating estimates for $1.141 per share.

Coca Cola (KO) reported earnings on 7/23/24 before the market open with $0.84, beating estimates for $0.802 per share.

Visa (V) reported earnings on 7/23/24 after the market close with $2.42, beating estimates for $2.411 per share.

IBM (IBM) reported earnings on 7/24/24 after the market close with $2.43, beating estimates for $2.16 per share.

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.

Intel (INTC) 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

Apple (AAPL)

Apple (AAPL) 218.54 (-2.88%) is up +13.51% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,867K
08:30 AM ET Core Durable Goods Orders (MoM) (Jun), 0.2%, -0.1%
08:30 AM ET Core PCE Prices (Q2), 2.70%, 3.70%
08:30 AM ET Durable Goods Orders (MoM) (Jun), 0.3%, 0.1%
08:30 AM ET Durables Excluding Defense (MoM) (Jun), -0.2%
08:30 AM ET GDP (QoQ) (Q2), 2.0%, 1.4%
08:30 AM ET GDP Price Index (QoQ) (Q2), 2.6%, 3.1%
08:30 AM ET GDP Sales (Q2), 1.8%
08:30 AM ET Goods Orders Non Defense Ex Air (MoM) (Jun), 0.1%, -0.6%
08:30 AM ET Goods Trade Balance, -100.62B
08:30 AM ET Initial Jobless Claims, 237K, 243K
08:30 AM ET Jobless Claims 4-Week Avg., 234.75K
08:30 AM ET PCE Prices (Q2), 3.4%
08:30 AM ET Real Consumer Spending (Q2), 1.5%
08:30 AM ET Retail Inventories Ex Auto, 0.0%
10:30 AM ET Natural Gas Storage, 13B, 10B
11:00 AM ET KC Fed Composite Index (Jul), -8
11:00 AM ET KC Fed Manufacturing Index (Jul), -11
11:30 AM ET 4-Week Bill Auction, 5.270%
11:30 AM ET 8-Week Bill Auction, 5.260%
13:00 PM ET 7-Year Note Auction, 4.276%
16:30 PM ET Fed’s Balance Sheet, 7,208B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.322T