Dow stocks hitting 52-week highs include American Express (AXP) 257.09 (+0.81%), IBM (IBM) 198.46 (-0.14%), JPMorgan (JPM) 221.29 (+0.50%), Coca Cola (KO) 71.75 (+0.35%), 3M (MMM) 131.61 (+0.16%), and United Health (UNH) 588.54 (+0.20%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +270 points.

Wednesday the Dow closed down -159.08 (-0.39%) at 41,091.42.

Year-to-date the Dow is up +9.03%.

Wednesday, (10) Dow stocks were up, none made 52-week lows, and (6) made 52-week highs.

The Dow stock winners Wednesday were led by American Express (AXP) 257.09 (+0.81%), Amgen (AMGN) 329.49 (+0.78%) and Merck (MRK) 117.40 (+0.77%).

The Dow stock losers Wednesday were led by Nike (NKE) 82.79 (-2.93%), Intel (INTC) 19.61 (-2.29%) and Salesforce (CRM) 258.90 (-2.01%).

The VIX closed Wednesday at 17.11 (+10.89%) and the 10 YR at 3.832 (-0.10%). The VIX is currently at 15.80 (-7.66%). The 10YR is at 3.874 (+0.99%).

Salesforce (CRM) shares traded 5% higher after the business software giant beat fiscal second-quarter estimates and raised its full-year profit outlook. The customer relationship management software maker also raised its full-year outlook and announced CFO Amy Weaver will step down from her post.

Initial filings for unemployment insurance moved slightly lower for the week ended Aug. 24, the Labor Department reported Thursday. First-time claims totaled 231,000 for the period, down 2,000 from the previous week and slightly above the 230,000 Dow Jones estimate. Continuing claims, which run a week behind, totaled 1.868 million, an increase of 13,000 but slightly below a 1.87 million estimate.

Economic growth was stronger than initially estimated in the second quarter due largely to an upward revision in consumer spending, the Commerce Department reported Thursday. Real gross domestic product increased at an annualized 3% pace for the April-through-June period, up from the previous estimate of 2.8%, according to the department’s Bureau of Economic Analysis in its second of three GDP readings.

Consumer spending accelerated at a 2.9% pace for the period, even as the savings rate was revised lower to 3.3%, or 0.2 percentage point lower than the initial estimate.

On the inflation front, most numbers were revised lower. The personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, was cut to 2.5%. Core excluding food and energy saw a downward revision to 2.8%. Both were lowered by 0.1 percentage point. However, the chain-weighted price index rose 2.5%, higher than the previous 2.3% estimate.

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

The national average price of gasoline is unchanged at $3.361 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) reported earnings on 7/25/24 before the market open with $0.68, missing estimates for $0.718 per share.

Honeywell (HON) reported earnings on 7/25/24 before the market open with $2.49, beating estimates for $2.418 per share.

McDonald’s (MCD) reported earnings on 7/29/24 before the market open with $2.79, missing estimates for $3.079 per share.

3M (MMM) reports earnings on 7/26/24 before the market open with $1.93, beating estimates for $1.662 per share.

Merck (MRK) reported earnings on 7/30/24 before the market open with $2.728, beating estimates for $2.156 per share.

Procter & Gamble (PG) reported earnings on 7/30/24 before the market open with $1.40, beating estimates for $1.367 per share.

Microsoft (MSFT) reports earnings on 7/30/24 after the market close with $2.95, beating estimates for $2.899 per share.

Boeing (BA) reported earnings on 7/31/24 before the market open with -$2.90, missing estimates for -$1.681 per share.

Apple (AAPL) reported earnings on 8/1/24 after the market close with $1.40, beating estimates for $1.342 per share.

Amazon (AMZN) reported earnings on 8/1/24 after the market close with $1.26, beating estimates for $1.046 per share.

Intel (INTC) reported earnings on 8/1/24 after the market close with $0.02, beating estimates for -$0.115 per share.

Chevron (CVX) reported earnings on 8/2/24 before the market open with $2.55, missing estimates for $2.879 per share.

Caterpillar (CAT) reported earnings on 8/6/24 before the market open with $5.99, beating estimates for $5.534 per share.

Amgen (AMGN) reported earnings on 8/6/24 after the market close with $4.93, beating estimates for $4.97 per share.

Disney (DIS) reported earnings on 8/7/24 before the market open with $1.204, beating estimates for $1.39 per share.

Home Depot (HD) reported earnings on 8/13/24 before the market open with $4.67, beating estimates for $4.541 per share.

Cisco (CSCO) reported earnings on 8/14/24 after the market close with $0.87, beating estimates for $0.701 per share.

Walmart (WMT) reported earnings on 8/15/24 before the market open with $0.67, beating estimates for $0.647 per share.

Salesforce (CRM) reported earnings on 8/28/24 after the market close with $2.56, beating estimates for $1.732 per share.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 224.40 (+0.34%) is up +17.80% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,870K, 1,863K
08:30 AM ET Core PCE Prices (Q2), 2.90%, 3.70%
08:30 AM ET Corporate Profits (QoQ) (Q2), -2.7%
08:30 AM ET GDP (QoQ) (Q2), 2.8%, 1.4%
08:30 AM ET GDP Price Index (QoQ) (Q2), 2.3%, 3.1%
08:30 AM ET GDP Sales (Q2), 2.0%, 1.8%
08:30 AM ET Goods Trade Balance (Jul), -97.70B, -96.56B
08:30 AM ET Initial Jobless Claims, 232K, 232K
08:30 AM ET Jobless Claims 4-Week Avg., 236.00K
08:30 AM ET PCE Prices (Q2), 2.6%, 3.4%
08:30 AM ET Real Consumer Spending (Q2), 2.3%, 1.5%
08:30 AM ET Retail Inventories Ex Auto (Jul), 0.2%
08:30 AM ET Wholesale Inventories (MoM), 0.3%, 0.2%
10:00 AM ET Pending Home Sales (MoM) (Jul), 0.2%, 4.8%
10:00 AM ET Pending Home Sales Index (Jul), 74.3
10:30 AM ET Natural Gas Storage, 33B, 35B
11:30 AM ET 4-Week Bill Auction, 5.240%
11:30 AM ET 8-Week Bill Auction, 5.125%
15:30 AM ET FOMC Member Bostic Speaks
16:30 AM ET Fed’s Balance Sheet, 7,194B
16:30 AM ET Reserve Balances with Federal Reserve Banks, 3.359T