Dow stocks hitting 52-week highs include Amazon (AMZN) 207.09 (+3.80%), American Express (AXP) 295.16 (+6.97%), Caterpillar (CAT 416.88 (+8.74%), Cisco (CSCO) 57.87 (+3.04%), Goldman Sachs (GS) 595.98 (+13.10%), JPMorgan (JPM) 247.06 (+11.54%), Visa (V) 307.40 (+4.81%) and Walmart (WMT) 83.44 (-0.29%). Dow stock 52-week lows include Boeing (BA) 147.16 (-2.54%).

The Market

Premarket today, the Dow was indicated to be down -7 points.

Wednesday the Dow closed up 1508.05 (+3.57%) at 43,729.93.

Year-to-date the Dow is up +16.03%.

Wednesday, (19) Dow stocks were up, (1) made 52-week lows, and (8) made 52-week highs.

The Dow stock winners Wednesday were led by Intel (INTC) 23.32 (+3.55%), Goldman Sachs (GS) 526.96 (+3.03%) and AMerican Express (AXP) 275.94 (+2.13%).

The Dow stock losers Wednesday were led by Boeing (BA) 151.00 (-2.62%), Chevron (CVX) 153.41 (-0.36%) and Merck (MRK) 101.65 (-0.22%).

The VIX closed Wednesday at 16.27 (-20.60%) and the 10 YR at 4.425 (+3.63%). The VIX is currently at 15.57 (-4.30%). The 10YR is at 4.387 (-0.79%).

Today we get the Federal Reserve’s interest rate decision and Chair Jerome Powell’s subsequent press conference. Fed funds futures are currently pricing in a 100% likelihood that the central bank lowers the borrowing cost at this gathering with a quarter-percentage point cut. Market pricing currently points toward a 71% chance of another quarter-point cut in December.

U.S. workers produced at a lower rate than expected while labor costs were above forecasts in the third quarter, the Bureau of Labor Statistics reported Thursday. Nonfarm labor productivity, a measure of output compared to hours worked, increased 2.2% for the July-through-September period, below the estimate for 2.5%. At the same time, unit labor costs, a measure of hourly compensation to productivity, jumped 1.9%, well above the 1.1% forecast.

Initial jobless claims data came in roughly in-line with estimates on Thursday morning at 221,000. Economists were expecting 220K claims for the week ending Nov. 2. The four-week moving average for initial claims is now 227,250, according to the Department of Labor. Continued jobless claims came in at 1,642,554 for the week ending Oct. 19, down a little more than 9,000 from the previous reading.

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

The national average price of gasoline is down one-tenth of a cent at $3.106 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 with $5.58, beating estimates for $5.109 per share.

Microsoft (MSFT) reported earnings on 10/30/24 after the market close with $3.30, beating estimates for $3.083 per share.

Merck (MRK) reported earnings on 10/31/24 before the market open with $1.57, beating estimates for $1.504 per share.

Intel (INTC) reported earnings on 10/31/24 after the market close with -$0.46, missing estimates for -$0.205 per share.

Amazon (AMZN) reported earnings on 10/31/24 after the market close with $1.43, beating estimates for $1.144 per share.

Apple (AAPL) reported earnings on 10/31/24 after the market close with $1.64, beating estimates for $1.49 per share.

Chevron (CVX) reported earnings on 11/01/24 before the market open with $2.51, beating estimates for $2.47 per share.

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

Honeywell (HON)

Honeywell (HON) 216.40 (+3.65%) is up +3.19% in 2024.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,880K, 1,862K
08:30 AM ET Initial Jobless Claims, 223K, 216K
08:30 AM ET Jobless Claims 4-Week Avg., 236.50K
08:30 AM ET Nonfarm Productivity (QoQ) (Q3), 2.6%, 2.5%
08:30 AM ET Unit Labor Costs (QoQ) (Q3), 1.1%, 0.4%
10:00 AM ET Retail Inventories Ex Auto (Sep), 0.1%, 0.5%
10:00 AM ET Wholesale Inventories (MoM) (Sep), -0.1%, -0.1%
10:00 AM ET Wholesale Trade Sales (MoM) (Sep), -0.1%
10:30 AM ET Natural Gas Storage, 67B, 78B
11:30 AM ET 4-Week Bill Auction, 4.580%
11:30 AM ET 8-Week Bill Auction, 455.000%
13:00 PM ET Atlanta Fed GDPNow (Q4), 2.4%, 2.4%
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 4.75%, 5.00%
14:30 PM ET FOMC Press Conference
15:00 PM ET Consumer Credit (Sep), 12.20B, 8.93B
16:30 PM ET Fed’s Balance Sheet, 7,013B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.216T