Dow stocks hitting 52-week highs include American Express (AXP) 271.06 (+1.09%), Home Depot (HD) 399.53 (+0.71%), IBM (IBM) 220.84 (-1.16%), McDonald’s (MCD) 303.69 (+0.01%) and Verizon (VZ) 44.89 (+0.61%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -119 points.

Monday the Dow closed up +17.15 (+0.04%) at 42,330.15.

Year-to-date the Dow is up +12.31%.

Monday, (16) Dow stocks were up, (1) made 52-week lows, and (2) made 52-week highs.

The Dow stock winners Monday were led by Apple (AAPL) 233.00 (+2.29%), Home Depot (HD) 405.20 (+1.42%) and Chevron (CVX) 147.27 (+1.22%).

The Dow stock losers Monday were led by Boeing (BA) 152.04 (-2.74%), Intel (INTC) 23.46 (-1.88%) and Nike (NKE) 88.40 (-1.16%).

The VIX closed Monday at 16.73 (-1.36%) and the 10 YR at 3.772 (-0.53%). The VIX is currently at 16.83 (+0.60%). The 10YR is at 3.733 (-1.56%).

The Dow Jones Industrial Average notched a record close yesterday, gaining +0.04% to 42,330.15.

Jerome Powell’s message yesterday: Don’t get too used to half-point cuts. The Federal Reserve chair said Monday that the central bank will let data be the guide for any future action as it seeks to bring down inflation while supporting the labor market. “Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course,” Powell told the National Association for Business Economics during a speech in Nashville. “The risks are two-sided, and we will continue to make our decisions meeting by meeting.”

East and Gulf Coast port workers are on strike. As of midnight, approximately 50,000 longshoremen walked off the job from 14 major ports spanning New England to Texas after the International Longshoremen’s Association and the United States Maritime Alliance failed to reach a labor agreement. It’s the union’s first strike since 1977 and brought billions in trade to a screeching halt.

Nike (NKE) reports quarterly results after the bell Tuesday, weeks after the sneaker giant announced it would replace CEO John Donahoe. The company has been navigating a downturn in sales after a strategy to sell directly to consumers backfired. Weakened relationships with wholesalers cleared shelf space for upstart competitors like On Running and Hoka. Investors will be listening Tuesday for details on the executive transition, innovation and inventories.

The Fed’s move to cut interest rates by a half-point at its latest meeting bolstered stocks’ performance as of late. Investors will now look to September’s nonfarm payrolls report on Friday, which will serve as the next catalyst for the major averages.

This morning we get the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey for August. The S&P Global U.S. Manufacturing Purchasing Managers’ Index and the ISM Manufacturing PMI readings are also slated for release.

Disney (DIS) slipped around -0.9% following a downgrade by Raymond James to market perform from outperform. Analyst Ric Prentiss believes Disney’s parks segment is coming under pressure.

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

The national average price of gasoline is down eight-tenths of a cent at $3.204 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 10/1/24 after the market close.

JPMorgan (JPM) reports earnings on 10/11/24 before the market open.

Goldman Sachs (GS) reports earnings on 10/15/24 before the market open.

Johnson & Johnson (JNJ) reports earnings on 10/15/24 before the market open.

UnitedHealth (UNH) reports earnings on 10/15/24 before the market open.

Travelers (TRV) reports earnings on 10/17/24 before the market open.

American Express (AXP) reports earnings on 10/18/24 before the market open.

Procter & Gamble (PG) reports earnings on 10/18/24 before the market open.

Verizon (VZ) reports earnings on 10/22/24 before the market open.

Microsoft (MSFT) reports earnings on 10/22/24 after the market close.

Visa (V) reports earnings on 10/22/24 after the market close.

Coca Cola (KO) reports earnings on 10/23/24 before the market open.

IBM (IBM) reports earnings on 10/23/24 after the market close.

Dow (DOW) reports earnings on 10/24/24 before the market open.

Honeywell (HON) reports earnings on 10/24/24 before the market open.

Amazon (AMZN) reports earnings on 10/24/24 after the market close.

Today’s Featured Dow Stock

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) 162.06 (+0.41%) is up +3.39% in 2024.

Financial Calendar

08:55 AM ET Redbook (YoY), 4.4%
09:45 AM ET S&P Global US Manufacturing PMI (Sep), 47.0, 47.9
10:00 AM ET Construction Spending (MoM) (Aug), 0.2%, -0.3%
10:00 AM ET Dallas Fed PCE (Aug), 1.70%
10:00 AM ET ISM Manufacturing Employment (Sep), 46.0
10:00 AM ET ISM Manufacturing New Orders Index (Sep), 44.6
10:00 AM ET ISM Manufacturing PMI (Sep), 47.6, 47.2
10:00 AM ET ISM Manufacturing Prices (Sep), 53.7, 54.0
10:00 AM ET JOLTs Job Openings (Aug), 7.640M, 7.673M
10:30 AM ET Dallas Fed Services Revenues (Sep), 8.7
10:30 AM ET Texas Services Sector Outlook (Sep), -7.7
11:00 AM ET FOMC Member Bostic Speaks
11:10 AM ET Fed Governor Cook Speaks
12:00 PM ET Atlanta Fed GDPNow (Q3), 3.1%, 3.1%
16:30 PM ET API Weekly Crude Oil Stock, -4.339M
18:15 PM ET Fed Collins Speaks
18:15 PM ET FOMC Member Barkin Speaks
18:15 PM ET FOMC Member Bostic Speaks