Dow stocks hitting 52-week highs include Home Depot (HD) 409.05 (+0.95%). Dow stock 52-week lows include Boeing (BA) 154.22 (+1.43%).

The Market

Premarket today, the Dow was indicated to be down -39 points.

Tuesday the Dow closed down -173.18 (-0.41%) at 42,156.97.

Year-to-date the Dow is up +11.85%.

Tuesday, (11) Dow stocks were up, (1) made 52-week lows, and (1) made 52-week highs.

The Dow stock winners Tuesday were led by Chevron (CVX) 149.90 (+1.65%), Boeing (BA) 154.22 (+1.43%) and Merck (MRK) 114.74 (+1.04%).

The Dow stock losers Tuesday were led by Intel (INTC) 22.69 (-3.28%), Apple (AAPL) 226.21 (-2.91%) and Microsoft (MSFT) 420.69 (-2.23%).

The VIX closed Tuesday at 19.26 (+15.12%) and the 10 YR at 3.723 (-0.37%). The VIX is currently at 19.45 (+0.99%). The 10YR is at 3.797 (+1.61%).

Early this morning we got the ADP Report

Nike (NKE) slides more than 7% after the athletic apparel and sneaker company withdrew its full-year guidance. Nike, which posted an earnings beat and revenue miss for its fiscal first quarter, also postponed its investor day as its new CEO prepares to take office.

U.S. crude oil jumped nearly 3% on Wednesday, after Israel vowed a “painful” response to Iran’s ballistic missile attack against the country. The U.S. benchmark gained $1.92 to $71.75 per barrel, while global benchmark Brent rose 2.32%, or $1.71, to $75.27 per barrel.

ADP data released this morning showed better-than-expected private payroll growth in September. Companies added 143,000 jobs for the month. That marks an increase from the upwardly revised 103,000 in August and came in better than the consensus forecast of 128,000. This comes ahead of Friday’s closely followed nonfarm payroll report, which could play a major role in the market’s direction and the Federal Reserve’s next rate move as its cutting cycle begins.

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

The national average price of gasoline is down 1.2 cents at $3.204 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 10/1/24 after the market close with $0.70, beating estimates for $0.514 per share.

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

JPMorgan (JPM)

JPMorgan (JPM) 207.04 (-1.81%) is up +21.72% in 2024.

Financial Calendar

06:00 AM ET OPEC Meeting
07:00 AM ET Dallas Fed PCE (Aug), 1.70%
07:00 AM ET MBA 30-Year Mortgage Rate, 6.13%
07:00 AM ET MBA Mortgage Applications (WoW), 11.0%
07:00 AM ET MBA Purchase Index, 148.2
07:00 AM ET Mortgage Market Index, 296.1
07:00 AM ET Mortgage Refinance Index, 1,132.9
07:00 AM ET Milk Auctions, 3,883.0
08:15 AM ET ADP Nonfarm Employment Change (Sep), 124K, 99K
10:30 AM ET Crude Oil Inventories, -2.100M, -4.471M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.124M
10:30 AM ET Crude Oil Imports, 0.826M
10:30 AM ET Cushing Crude Oil Inventories, 0.116M
10:30 AM ET Distillate Fuel Production, -0.158M
10:30 AM ET EIA Weekly Distillates Stocks, -1.900M, -2.227M
10:30 AM ET Gasoline Production, 0.176M
10:30 AM ET Heating Oil Stockpiles, 0.191M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -1.2%
10:30 AM ET Gasoline Inventories, -0.500M, -1.538M
11:00 AM ET FOMC Member Bowman Speaks
12:15 PM ET FOMC Member Barkin Speaks