Dow stocks hitting 52-week highs include American Express (AXP) 365.73 (-0.02%). Dow stock 52-week lows included Procter & Gamble (PG) 146.13 (+0.23%).

The Market

Premarket today, the Dow was indicated to be down -148 points.

Thursday the Dow closed down 398.70 (-0.84%) at 46,912.30.

Year-to-date the Dow is up +10.27%.

Thursday, (10) Dow stocks were up, (1) made 52-week lows, and (1) made 52-week highs.

The Dow stock winners Thursday were led by IBM (IBM) 312.42 (+1.84%), Merck (MRK) 85.78 (+1.65%) and Coca Cola (KO) 69.06 (+0.80%).

The Dow stock losers Thursday were led by Salesforce (CRM) 239.27 (-5.31%), Nvidia (NVDA) 188.08 (-3.65%) and Amazon (AMZN 243.04 (-2.86%).

The VIX closed Thursday at 19.50 (+8.27%) and the 10 YR at 4.101 (-1.39%). The VIX is currently at 20.67 (+5.49%). The 10YR is at 4.120 (+0.59%).

Jobs Friday won’t be happening again this week as the record-long government shutdown has resulted in a lack of official data on the labor market as well as a host of other important indicators. Had the Bureau of Labor Statistics released its monthly nonfarm payrolls report, economists expect it would have shown a decline of 60,000 jobs and an unemployment rate increase to 4.5%. Other data points collected over the past several weeks paint a broad mosaic of a weak though not collapsing labor market.

Nvidia (NVDA) shares were down more than 1% in premarket, set to add to their 7% weekly loss. We are still two weeks from the very important Nvidia earnings.

Transportation Secretary Sean Duffy said Wednesday that he will be cutting flights by 10% at 40 major airports starting Friday, a move that could affect 3,500 to 4,000 flights daily. Air traffic controllers have been working without pay during the ongoing shutdown.

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

The national average price of gasoline is down four-tenths of a cent at $3.080 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/30/2025 after the market close with $0.49, beating estimates of $0.273 per share.

Goldman Sachs (GS) reported earnings on 10/14/2025 before the market open with $12.25, beating estimates of $11.03 per share.

Johnson & Johnson (JNJ) reported earnings on 10/14/2025 before the market open with $2.80, beating estimates of $2.77 per share.

JPMorgan (JPM) reported earnings on 10/14/2025 before the market open with $5.07, beating estimates of $4.83 per share.

Travelers (TRV) reported earnings on 10/16/2025 before the market open with $8.14, beating estimates of $6.008 per share.

American Express (AXP) reported earnings on 10/17/2025 before the market open with $4.14, beating estimates of $3.964 per share.

3M (MMM) reported earnings on 10/21/2025 before the market open with $2.19, beating estimates of $2.097 per share.

Coca Cola (KO) reported earnings on 10/21/2025 before the market open with $0.82, beating estimates of $0.781 per share.

IBM (IBM) reported earnings on 10/22/2025 after the market close with $2.65, beating estimates of $2.435 per share.

Honeywell (HON) reported earnings on 10/23/2025 before the market open with $2.82, beating estimates of $2.56 per share.

Procter & Gamble (PG) reports earnings on 10/24/2025 before the market open with $1.99, beating estimates of $1.896 per share.

Sherwin Williams (SHW) reported earnings on 10/28/2025 before the market open with $3.59, beating estimates of $3.461 per share.

UnitedHealth (UNH) report earnings on 10/28/2025 before the market open with $2.92, beating estimates of $2.753 per share.

Visa (V) reported earnings on 10/28/2025 after the market close with $2.98, beating estimates of $2.966 per share.

Boeing (BA) reported earnings on 10/29/2025 before the market open with -$7.47, missing estimates of -$3.769 per share.

Caterpillar (CAT) reported earnings on 10/29/2025 before the market open with $4.95, beating estimates of $4.52 per share.

Verizon (VZ) reported earnings on 10/29/2025 before the market open with $1.21, beating estimates of $1.191 per share.

Microsoft (MSFT) reported earnings on 10/29/2025 after the market close with $4.13, beating estimates of $3.654 per share.

Merck (MRK) reported earnings on 10/30/2025 before the market open with $2.58, beating estimates of $2.36 per share.

Amazon (AMZN) reported earnings on 10/30/2025 after the market close with $1.95, beating estimates of $1.579 per share.

Apple (AAPL) reported earnings on 10/30/2025 after the market close with $1.85, beating estimates of $1.734 per share.

Chevron (CVX) reported earnings on 10/31/2025 before the market open with $1.85, beating estimates of $1.658 per share.

Amgen (AMGN) reports earnings on 11/4/2025 after the market close with $5.64, beating estimates of $5.002 per share.

McDonald’s (MCD) reported earnings on 11/5/2025 before the market open with $3.22, missing estimates of $3.348 per share.

Cisco (CSCO) reports earnings on 11/12/2025 after the market close.

Disney (DIS) reports earnings on 11/13/2025 before the market open.

Home Depot (HD) reports earnings on 11/18/2025 before the market open.

Nvidia (NVDA) reports earnings on 11/19/2025 after the market close.

Walmart (WMT) reports earnings on 11/20/2025 before the market open.

Today’s Featured Dow Stock

Home Depot (HD)

Home Depot (HD) 369.07 (-1.28%) is down -5.12% in 2025.

Financial Calendar

03:00 AM ET FOMC Member Williams Speaks
07:00 AM ET Fed Governor Jefferson Speaks
10:00 AM ET Michigan 1-Year Inflation Expectations (Nov), 4.6%
10:00 AM ET Michigan 5-Year Inflation Expectations (Nov), 3.9%
10:00 AM ET Michigan Consumer Expectations (Nov), 50.3, 50.3
10:00 AM ET Michigan Consumer Sentiment (Nov), 54.0, 53.6
10:00 AM ET Michigan Current Conditions (Nov), 59.2, 58.6
10:00 AM ET Wholesale Inventories (MoM) (Aug), -0.2%
10:00 AM ET Wholesale Trade Sales (MoM) (Aug), 1.4%
11:00 AM ET NY Fed 1-Year Consumer Inflation Expectations (Oct), 3.4%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 414
13:00 PM ET U.S. Baker Hughes Total Rig Count, 546
15:00 PM ET Consumer Credit (Sep), 10.00B, 0.36B