Dow stocks hitting 52-week highs include IBM (IBM) 260.73 (+1.97%) and Walmart (WMT) 99.54 (+1.41%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -68 points.

Monday the Dow closed down -122.75 (-0.28%) at 44,421.91.

Year-to-date the Dow is up +4.41%.

Monday, (12) Dow stocks were up, none made 52-week lows, and (2) made 52-week highs.

The Dow stock winners Monday were led by IBM (IBM) 260.73 (+1.97%), Procter & Gamble (PG) 168.76 (+1.67%) and Verizon (VZ) 39.98 (+1.50%). 16.

The Dow stock losers Monday were led by Apple (AAPL) 228.01 (-3.39%), Nvidia (NVDA) 116.66 (-2.84%) and Caterpillar (CAT)361.55 (-2.66%).

The VIX closed Monday at 18.62 (+13.33%) and the 10 YR at 4.545 (+0.09%). The VIX is currently at 17.93 (-3.71%). The 10YR is at 4.593 (+1.15%).

Stock futures were lower after China imposed retaliatory tariffs on select U.S. imports.

Shares of Merck (MRK) dropped more than 7% in early morning trading Tuesday after the pharmaceutical giant issued full-year 2025 revenue guidance that fell short of Wall Street’s expectations. The company said its decision to halt shipments of Gardasil, its key vaccine that prevents cancer from HPV to China was behind the lower forecast. But Merck topped fourth-quarter estimates, reporting adjusted earnings of $1.72 per share and revenue of $15.62 billion. The company sees 2025 earnings per share coming in a range of $8.88 and $9.03. Analysts expected a forecast around $9.13 per share. Merck’s revenue expectations of $64.1 billion to $65.6 billion was also below what analysts anticipated.

The Chinese government slapped tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars, effective Feb. 10. The move comes after the U.S. agreed to pause more aggressive levies on Canada and Mexico. Canadian Prime Minister Justin Trudeau announced in a post on social media site X on Monday evening that Trump agreed to halt the implementation of tariffs against Canada for at least 30 days. Earlier on Monday, Mexican President Claudia Sheinbaum announced that duties on Mexico imports to the U.S. would also be halted for a month.

Later today we get the Job Openings and Labor Turnover Survey for December, as well as durable orders. The main event this week will be Friday’s January nonfarm payrolls report, which will add further clarity to the employment picture.

Asia-Pacific markets rose Tuesday after Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports.

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

The national average price of gasoline is up nine-tenths of a cent at $3.107 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 12/19/24 after the market close with $0.78, beating estimates for $0.63 per share.

JPMorgan (JPM) reported earnings on 1/15/25 before the market open with $4.81, beating estimates for $4.025 per share.

Goldman Sachs (GS) reported earnings on 1/15/25 before the market open with $7.99 per share.

UnitedHealth (UNH) reported earnings on 1/16/25 before the market open with $6.81, beating estimates for $6.708 per share.

3M (MMM) reported earnings on 1/21/25 before the market open with $1.68, beating estimates for $1.661 per share.

Johnson & Johnson (JNJ) reports earnings on 1/22/25 before the market open with $2.04, beating estimates for $2.003 per share.

Procter & Gamble (PG) reports earnings on 1/22/25 before the market open with $1.88, beating estimates for $1.863 per share.

Travelers (TRV) reported earnings on 1/22/25 before the market open with $9.15, beating estimates for $6.562 per share.

American Express (AXP) reported earnings on 1/24/25 before the market open with $3.04, beating estimates for $3.029 per share.

Verizon (VZ) reported earnings on 1/24/25 before the market open with $1.10, beating estimates for $1.094 per share.

Boeing (BA) reported earnings on 1/28/25 before the market open with -$5.90, missing estimates for -$3.221 per share.

IBM (IBM) reported earnings on 1/29/25 after the market close with $3.90, beating estimates for $3.728 per share.

Microsoft (MSFT) reported earnings on 1/29/25 after the market close with $3.23, beating estimates for $3.11 per share.

Caterpillar (CAT) reported earnings on 1/30/25 before the market open with $5.14, beating estimates for $4.967 per share.

Visa (V) reported earnings on 1/30/25 after the market close with $2.75, beating estimates for $2.659 per share.

Sherwin Williams (SHW) reported earnings on 1/30/25 before the market open with $2.09, beating estimates for $2.069 per share.

Apple (AAPL) reported earnings on 1/30/25 after the market close with $2.40, beating estimates for $2.355 per share.

Chevron (CVX) reported earnings on 1/31/25 before the market open with $2.06, missing estimates for $2.191 per share.

Merck (MRK) reported earnings on 2/4/25 before the market open with $1.72, beating estimates for $1.694 per share.

Amgen (AMGN) reports earnings on 2/4/25 after the market close.

Disney (DIS) reports earnings on 2/5/25 before the market open.

Honeywell (HON) reports earnings on 2/6/25 before the market open.

Amazon (AMZN) reports earnings on 2/6/25 after the market close.

McDonald’s (MCD) reports earnings on 2/10/25 before the market open.

Coca Cola (KO) reports earnings on 2/11/25 before the market open.

Cisco (CSCO) reports earnings on 2/12/25 after the market close.

Walmart (WMT) reports earnings on 2/20/25 before the market open.

Home Depot (HD) reports earnings on 2/25/25 before the market open.

Nvidia (NVDA) reports earnings on 2/26/25 after the market close.

Salesforce (CRM) reports earnings on 2/26/25 after the market close.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 149.34 (+0.10%) is up +3.11% in 2025.

Financial Calendar

08:55 AM ET Redbook (YoY), 4.9%
09:00 AM ET Milk Auctions, 4,146.0
10:00 AM ET Durables Excluding Defense (MoM) (Dec), -2.4%, -2.4%
10:00 AM ET Durables Excluding Transport (MoM) (Dec), 0.3%
10:00 AM ET Factory Orders (MoM) (Dec), -0.7%, -0.4%
10:00 AM ET Factory orders ex transportation (MoM) (Dec), 0.2%
10:00 AM ET JOLTS Job Openings (Dec), 7.880M, 8.098M
10:10 AM ET IBD/TIPP Economic Optimism (Feb), 53.0, 51.9
11:00 AM ET FOMC Member Bostic Speaks
13:15 AM ET FOMC Member Daly Speaks
16:30 AM ET API Weekly Crude Oil Stock, 2.860M
19:30 AM ET Fed Governor Jefferson Speaks