Dow stocks hitting 52-week highs include JPMorgan (JPM) 222.90 (-1.15%). There were no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -80 points.

Tuesday the Dow closed down -154.52 (-0.36%) at 42,223.05.

Year-to-date the Dow is up +12.06%.

Tuesday, (23) Dow stocks were up, none made 52-week lows, and none made 52-week highs.

The Dow stock winners Tuesday were led by Salesforce (CRM) 298.89 (+1.74%), Boeing (BA) 152.98 (+1.52%) and Amazon (AMZN) 190.83 (+1.30%).

The Dow stock losers Tuesday were led by Home Depot (HD) 395.07 (-1.94%), Coca Cola (KO) 65.56 (-1.66%) and Travelers (TRV) 248.67 (-1.47%).

The VIX closed Tuesday at 19.34 (-2.32%) and the 10 YR at 4.254 (-0.54%). The VIX is currently at 19.87 (+2.69%). The 10YR is at 4.246 (-0.63%).

Consumers are feeling more confident about the U.S. economy. The Conference Board’s consumer confidence index for October climbed more than 11%, its biggest one-month jump since March 2021. At a reading of 138, the index is much higher than the sub-80 level that indicates a recession.

Caterpillar (CAT) shares fell more than 5% in the premarket after the industrial giant reported weaker-than-expected earnings for the third quarter. The company posted a profit of $5.17 per share, while analysts had forecast earnings of $5.34 per share. Revenue also fell 4% year over year to $16.11 billion. Construction revenue fell 9% to $6.345 billion. “The decrease was primarily due to lower sales volume of $458 million and unfavorable price realization of $147 million. The decrease in sales volume was mainly driven by lower sales of equipment,” Caterpillar said.

The U.S. economy grew at a slower-than-expected rate in the third quarter, according to gross domestic product figures for the third quarter. GDP rose at a 2.8% annualized rate, while economists had been looking for an increase of 3.1%.

ADP said private companies hired 233,000 new workers in the month, better than the upwardly revised 159,000 in September and far ahead of an estimate for 113,000. It was the best month for job creation since July 2023. The September figure was also upwardly revised to 159,000. The numbers counter expectations for a slowdown in October on the heels of two brutal hurricanes and strikes at Boeing and ports on the Eastern seaboard.

Visa (V) beat earnings and revenue expectations for the fiscal fourth quarter, driving shares up about 1.5%. Visa posted adjusted earnings of $2.71 per share on revenue of $9.62 billion. Analysts expected earnings of $2.58 per share on revenue of $9.49 billion. The company also increased its quarterly dividend by 13% to 59 cents.

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

The national average price of gasoline is up four-tenths of a cent at $3.134 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) reported earnings on 10/11/24 before the market open with $4.37, beating estimates of $4.01 per share.

Goldman Sachs (GS) reported earnings on 10/15/24 before the market open with $8.40, beating estimates of $6.89 per share.

Johnson & Johnson (JNJ) reported earnings on 10/15/24 before the market open with $2.41, beating estimates for $2.217 per share.

UnitedHealth (UNH) reported earnings on 10/15/24 before the market open with $7.15, beating estimates for $7.015 per share.

Travelers (TRV) reported earnings on 10/17/24 before the market open with $5.24, beating estimates for $3.794 per share.

American Express (AXP) reports earnings on 10/18/24 before the market open with $3.49, beating estimates for $3.266 per share.

Procter & Gamble (PG) reports earnings on 10/18/24 before the market open with $1.93, beating estimates for $1.898 per share.

3M (MMM) reported earnings on 10/22/24 before the market open with $1.98, beating estimates for $1.93 per share.

Verizon (VZ) reported earnings on 10/22/24 before the market open with $1.19, beating estimates for $1.181 per share.

Boeing (BA) reported earnings on 10/23/24 before the market open with -$10.44, missing estimates for -$10.337 per share.

Coca Cola (KO) reported earnings on 10/23/24 before the market open with $0.77, beating estimates for $0.743 per share.

IBM (IBM) reported earnings on 10/23/24 after the market close with $2.30, beating estimates for $2.265 per share.

Dow (DOW) reported earnings on 10/24/24 before the market open with $0.47, beating estimates for $0.464 per share.

Honeywell (HON) reported earnings on 10/24/24 before the market open with $2.58, beating estimates for $2.501 per share.

McDonald’s (MCD) reported earnings on 10/29/24 before the market open with $3.23, beating estimates for $3.181 per share.

Visa (V) reported earnings on 10/29/24 after the market close with $2.71, beating estimates for $2.581 per share.

Caterpillar (CAT) reported earnings on 11/05/24 before the market open with $5.17, missing estimates for $5.33 per share.

Amgen (AMGN) reports earnings on 10/30/24 after the market close.

Microsoft (MSFT) reports earnings on 10/30/24 after the market close.

Intel (INTC) reports earnings on 10/31/24 after the market close.

Merck (MRK) reports earnings on 10/31/24 before the market open.

Amazon (AMZN) reports earnings on 10/31/24 after the market close.

Apple (AAPL) reports earnings on 10/31/24 after the market close.

Intel (INTC) reports earnings on 10/31/24 after the market close.

Chevron (CVX) reports earnings on 11/01/24 before the market open.

Home Depot (HD) reports earnings on 11/12/24 before the market open.

Cisco (CSCO) reports earnings on 11/13/24 after the market close.

Disney (DIS) reports earnings on 11/14/24 before the market open.

Walmart (WMT) reports earnings on 11/19/24 before the market open.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 55.68 (+0.72%) is up +10.21% in 2024.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.52%
07:00 AM ET MBA Mortgage Applications (WoW), -6.7%
07:00 AM ET MBA Purchase Index, 131.3
07:00 AM ET Mortgage Market Index, 214.8
07:00 AM ET Mortgage Refinance Index, 672.6
08:15 AM ET ADP Nonfarm Employment Change (Oct), 101K, 143K
08:30 AM ET Core PCE Prices (Q3), 2.10%, 2.80%
08:30 AM ET GDP (QoQ) (Q3), 3.0%, 3.0%
08:30 AM ET GDP Price Index (QoQ) (Q3), 2.0%, 2.5%
08:30 AM ET GDP Sales (Q3), 1.9%
08:30 AM ET PCE Prices (Q3), 2.7%, 2.5%
08:30 AM ET Real Consumer Spending (Q3), 2.8%
10:00 AM ET Pending Home Sales (MoM) (Sep), 0.9%, 0.6%
10:00 AM ET Pending Home Sales Index (Sep), 70.6
10:30 AM ET Crude Oil Inventories, 5.474M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.329M
10:30 AM ET Crude Oil Imports, 0.913M
10:30 AM ET Cushing Crude Oil Inventories, -0.346M
10:30 AM ET Distillate Fuel Production, 0.257M
10:30 AM ET EIA Weekly Distillates Stocks, -1.140M
10:30 AM ET Gasoline Production, 0.666M
10:30 AM ET Heating Oil Stockpiles, -0.280M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 1.8%
10:30 AM ET Gasoline Inventories, 0.878M