Dow stocks hitting 52-week highs include American Express (AXP) 323.71 (-2.26%). There were no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -10 points.

Wednesday the Dow closed down -24.58 (-0.05%) at 45,271.23.

Year-to-date the Dow is up +6.41%.

Wednesday, (13) Dow stocks were up, none made 52-week lows, and (1) made 52-week highs.

The Dow stock winners Wednesday were Apple (AAPL) 238.47 (+3.81%), Walmart (WMT) 99.44 (+1.62%) and Salesforce (CRM) 256.45 (+1.42%).

The Dow stock losers Wednesday were led by Chevron CVX) 158.06 (-2.33%), American Express (AXP) 323.71 (-2.26%) and Boeing (BA) 232.38 (-2.11%).

The VIX closed Wednesday at 16.35 (-4.78%) and the 10 YR at 4.204 (+0.14%). The VIX is currently at 16.14 (-1.28%). The 10YR is at 4.182 (-0.38%).

Today we get ADP Nonfarm Employment numbers at 8:15 am ET, Jobless Claims at 8:30 am ET, PMI numbers at 9:45 am ET and ISM numbers at 10 am ET.

The ADP private payrolls report showed an increase of 54,000 in August. Economists had expected private employers to add 75,000 jobs. The figure is also less than the revised 106,000 in July. The reaction was limited as investors reasoned that the recent ADP data was weak enough for the Federal Reserve to justify a September rate cut, but not soft enough to herald a recession. Traders increased their bets that the central bank would cut on Sept. 17, with fed funds futures trading following ADP’s report now indicating a 97.4% chance of a rate cut. That’s up from 96.6% a day ago.

Jobless claims for the week ended Aug. 30 increased to 237,000. That number came in above estimates and marked an 8,000 gain from the prior week, providing more evidence of slowing in the labor market. Those reports come ahead of Friday’s big jobs report, which is expected to post 75,000 nonfarm payrolls gain for last month, according to economists.

Salesforce (CRM) slipped 7% after the company guided for third-quarter revenue to come in between $10.24 billion and $10.29 billion, lower than the $10.29 billion analysts had estimated. However, the company did post an earnings and revenue beat for the second quarter, reporting adjusted earnings of $2.91 per share on revenue of $10.24 billion. That’s above the consensus estimate of $2.78 in earnings per share on revenue of $10.14 billion.

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

The national average price of gasoline is up 1.1 cents at $3.201 per gallon.

Earnings Reports

JPMorgan (JPM) reported earnings on 7/15/2025 before the market open with $5.24, beating estimates of $4.455 per share.

Goldman Sachs (GS) reported earnings on 7/16/2025 before the market open with $10.91, beating estimates of $9.821 per share.

Johnson & Johnson (JNJ) reported earnings on 7/16/2025 before the market open with $2.77, beating estimates of $2.65 per share.

Travelers (TRV) reported earnings on 7/17/2025 before the market open with $6.51, beating estimates of $3.51 per share.

3M (MMM) reported earnings on 7/18/2025 before the market open with $2.16, beating estimates of $2.011 per share.

American Express (AXP) reported earnings on 7/18/2025 before the market open with $4.08, beating estimates of $3.837 per share.

Verizon (VZ) reported earnings on 7/21/2025 before the market open with $1.22, beating estimates of $1.183 per share.

Coca Cola (KO) reported earnings on 7/22/2025 before the market open with $0.87, beating estimates of $3.837 per share.

Sherwin Williams (SHW) reported earnings on 7/22/2025 before the market open with $3.38, missing estimates of $3.75 per share.

IBM (IBM) reported earnings on 7/23/2025 after the market close with $2.80, beating estimates of $2.637 per share.

Honeywell (HON) reported earnings on 7/24/2025 before the market open with $2.75, beating estimates of $2.629 per share.

Boeing (BA) reported earnings on 7/29/2025 before the market open with -$0.847, missing estimates of -$1.24 per share.

Merck (MRK) reported earnings on 7/29/2025 before the market open with $2.13, beating estimates of $2.035 per share.

Procter & Gamble (PG) reported earnings on 7/29/2025 before the market open with $1.48, beating estimates of $1.423 per share.

UnitedHealth (UNH) reported earnings on 7/29/2025 before the market open with $4.08, missing estimates of $5.468 per share.

Visa (V) reported earnings on 7/29/2025 after the market close with $2.98, beating estimates of $2.839 per share.

Microsoft (MSFT) reported earnings on 7/30/2025 after the market close with $3.35, beating estimates of $3.65 per share.

Apple (AAPL) reported earnings on 7/31/2025 after the market close with $1.57, beating estimates of $1.419 per share.

Chevron (CVX) reported earnings on 8/1/2025 before the market open with $1.77, beating estimates of $1.544 per share.

Caterpillar (CAT) reports earnings on 8/5/2025 before the market open with $4.72, missing estimates of $4.925 per share.

Amgen (AMGN) reports earnings on 8/5/2025 after the market close with $6.02, beating estimates of $5.207 per share.

Disney (DIS) reports earnings on 8/6/2025 before the market open with $1.61, beating estimates of $1.442 per share.

McDonald’s (MCD) reports earnings on 7/6/2025 before the market open with $3.19, beating estimates of $3.128 per share.

Cisco (CSCO) reported earnings on 8/13/2025 after the market close with $0.99, beating estimates of $0.797 per share.

Home Depot (HD) reported earnings on 8/19/2025 before the market open with $4.68, missing estimates of $4.693 per share.

Walmart (WMT) reported earnings on 8/21/2025 before the market open with $0.68, missing estimates of $0.723 per share.

Nvidia (NVDA) reported earnings on 8/27/2025 after the market close with $1.05, beating estimates of $0.925 per share.

Salesforce (CRM) reports earnings on 9/3/2025 after the market close with $2.91, beating estimates of $2.051 per share.

Amazon (AMZN) reports earnings on 10/30/2025 after the market close.

Today’s Featured Dow Stock

UnitedHealth (UNH)

UnitedHealth (UNH) 307.88 (-0.30%) is down -39.14% in 2025.

Financial Calendar

07:30 AM ET Challenger Job Cuts (Aug), 62.075K
08:00 AM ET Total Vehicle Sales (Aug), 16.10M, 16.40M
08:15 AM ET ADP Nonfarm Employment Change (Aug), 73K, 104K
08:30 AM ET Continuing Jobless Claims, 1,960K, 1,954K
08:30 AM ET Exports (Jul), 277.30B
08:30 AM ET Imports (Jul), 337.50B
08:30 AM ET Initial Jobless Claims, 230K, 229K
08:30 AM ET Jobless Claims 4-Week Avg., 228.50K
08:30 AM ET Nonfarm Productivity (QoQ) (Q2), 2.8%, 2.4%
08:30 AM ET Trade Balance (Jul), -77.70B, -60.20B
08:30 AM ET Unit Labor Costs (QoQ) (Q2), 1.2%, 1.6%
09:45 AM ET S&P Global Composite PMI (Aug), 55.4, 55.1
09:45 AM ET S&P Global Services PMI (Aug), 55.4, 55.7
10:00 AM ET ISM Non-Manufacturing Business Activity (Aug), 52.6
10:00 AM ET ISM Non-Manufacturing Employment (Aug), 46.4
10:00 AM ET ISM Non-Manufacturing New Orders (Aug), 50.3
10:00 AM ET ISM Non-Manufacturing PMI (Aug), 50.9, 50.1
10:00 AM ET ISM Non-Manufacturing Prices (Aug), 69.9
10:30 AM ET Natural Gas Storage, 18B
11:30 AM ET 4-Week Bill Auction, 4.245%
11:30 AM ET 8-Week Bill Auction, 4.145%
12:00 PM ET Crude Oil Inventories, -2.392M
12:00 PM ET EIA Refinery Crude Runs (WoW), -0.328M
12:00 PM ET Crude Oil Imports, 0.299M
12:00 PM ET Cushing Crude Oil Inventories, -0.838M
12:00 PM ET Distillate Fuel Production, -0.113M
12:00 PM ET EIA Weekly Distillates Stocks, -1.786M
12:00 PM ET Gasoline Production, 0.427M
12:00 PM ET Heating Oil Stockpiles, 0.102M
12:00 PM ET EIA Weekly Refinery Utilization Rates (WoW), -2.0%
12:00 PM ET Gasoline Inventories, -1.236M
12:05 PM ET FOMC Member Williams Speaks
13:00 PM ET Atlanta Fed GDPNow (Q3), 3.0%, 3.0%
16:30 PM ET Fed’s Balance Sheet, 6,603B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.217T
19:00 PM ET Fed Goolsbee Speaks