There were no Dow stocks hitting 52-week highs. There were no Dow stocks hitting 52-week lows.

The Market

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

Thursday the Dow closed down -267.50 (-0.54%) at 49,395.16.

Year-to-date the Dow is up +2.77%.

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

The Dow stock winners Thursday were led by Verizon (VZ) 48.64 (+1.23%), Caterpillar (CAT) 760.53 (+1.14%) and Procter & Gamble (PG) 158.56 (+1.08%).

The Dow stock losers Thursday were led by Sherwin Williams (SHW) 357.61 (-2.23%), Boeing (BA) 233.71 (-2.18%) and Goldman Sachs (GS) 916.65 (-1.83%).

The VIX closed Thursday at 20.25 (+3.21%) and the 10 YR at 4.078 (0.00%). The VIX is currently at 21.14 (+4.50%). The 10YR is at 4.070 (-0.05%).

Stock futures are down Friday following the release of crucial economic data and ahead of a potential key ruling from the Supreme Court on President Donald Trump’s tariffs.

Gross domestic product increased 1.4% for the fourth quarter. That was far below the 2.5% gain that economists had anticipated. The 4.4% advance in the third quarter sharply surpassed estimates.

The personal consumption expenditures price index report, the Federal Reserve’s preferred inflation gauge, showed that inflation held steady in December. Excluding volatile food and energy prices, core PCE came in at 3%, in line with expectations.

Fed policymakers are divided between officials who are worried about supporting the labor market and those who are more concerned about inflation. The pace of price increases has generally trended lower, but inflation is still ahead of the central bank’s 2% mandate. Minutes from the January Fed meeting indicate that some officials will need to see more evidence that inflation is cooling before voting for additional interest rate cuts.

Friday may also bring a highly anticipated Supreme Court decision, as many on Wall Street expect a ruling on the legality of Trump’s tariffs under the International Emergency Economic Powers Act. Traders mostly believe the stock market will react positively if the duties are knocked down, even with expectations the White House will use other means to reapply them at another time. The Supreme Court, which doesn’t divulge beforehand the cases it will rule on, also has decision days scheduled for next Tuesday and Wednesday.

A full-blown war between the United States and Iran could, in a worst-case scenario, send oil prices soaring and cause an economic downturn. With a massive U.S. military buildup underway in the Middle East, Trump signaled Thursday that he will decide in the next 10 days whether to launch strikes against Iran.

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

The national average price of gasoline is up five-tenths of a cent at $2.934 per gallon.

Earnings Reports

JPMorgan (JPM) reported earnings on 1/13/2026 before the market open with $4.63, missing estimates for $5.009 per share.

Goldman Sachs (GS) reported earnings on 1/15/2026 before the market open with $14.01, beating estimates for $11.776 per share.

3M (MMM) reported earnings on 1/20/2026 before the market open with $1.83, beating estimates for $1.807 per share.

Johnson & Johnson (JNJ) reported earnings on 1/21/2026 before the market open with $2.46, beating estimates for $2.434 per share.

Travelers (TRV) reported earnings on 1/21/2026 before the market open with $11.13, beating estimates for $8.419 per share.

Procter & Gamble (PG) reported earnings on 1/22/2026 before the market open with $1.88, beating estimates for $1.874 per share.

Boeing (BA) reported earnings on 1/27/2026 before the market open with $9.92, beating estimates for -$0.399 per share.

UnitedHealth (UNH) reported earnings on 1/27/2026 before the market open with $2.11, beating estimates for $2.093 per share.

IBM (IBM) reported earnings on 1/28/2026 after the market close with $4.52, beating estimates for $4.33 per share.

Microsoft (MSFT) reported earnings on 1/28/2026 after the market close with $4.14, beating estimates for $3.875 per share.

Caterpillar (CAT) reported earnings on 1/29/2026 before the market open with $5.16, beating estimates for $4.674 per share.

Sherwin Williams (SHW) reported earnings on 1/29/2026 before the market open with $2.23, beating estimates for $2.122 per share.

Honeywell (HON) reported earnings on 1/29/2026 before the market open with $2.59, beating estimates for $2.527 per share.

Apple (AAPL) reported earnings on 1/29/2026 after the market close with $2.84, beating estimates for $2.654 per share.

Visa (V) reports earnings on 1/29/2026 after the market close with $3.17, beating estimates for $3.137 per share.

American Express (AXP) reports earnings on 1/30/2026 before the market open with $3.53, missing estimates for $3.554 per share.

Chevron (CVX) reports earnings on 1/30/2026 before the market open with $1.52, beating estimates for $1.444 per share.

Verizon (VZ) reports earnings on 1/30/2026 before the market open with $1.09, beating estimates for $1.061 per share.

Disney (DIS) reported earnings on 2/2/2026 before the market open with $1.63, beating estimates for $1.569 per share.

Merck (MRK) reported earnings on 2/3/2026 before the market open with $2.04, beating estimates for $2.028 per share.

Amgen (AMGN) reported earnings on 2/3/2026 after the market close with $5.29, beating estimates for $4.758 per share.

Amazon (AMZN) reported earnings on 2/5/2026 after the market close with $1.95, missing estimates for $1.978 per share.

Coca Cola (KO) reported earnings on 2/10/2026 before the market open with $0.58, beating estimates for $0.565 per share.

McDonalds (MCD) reported earnings on 2/11/2026 before the market open with $3.12, beating estimates for $3.047 per share.

Cisco (CSCO) reported earnings on 2/11/2026 after the market close with $1.04, beating estimates for $0.82 per share.

Walmart (WMT) reported earnings on 2/19/2026 before the market open with $0.74, beating estimates for $0.73 per share.

Home Depot (HD) reports earnings on 2/24/2026 before the market open.

Nvidia (NVDA) reports earnings on 2/25/2026 after the market close.

Salesforce (CRM) reports earnings on 2/25/2026 after the market close.

Today’s Featured Dow Stock

Merck (MRK)

Merck (MRK) 121.86 (+0.16%) is up +15.77% in 2026.

Financial Calendar

08:30 AM ET Core PCE Price Index (MoM) (Dec), 0.3%, 0.2%
08:30 AM ET Core PCE Price Index (YoY) (Dec), 2.9%, 2.8%
08:30 AM ET Core PCE Prices (Q4), 2.60%, 2.90%
08:30 AM ET GDP (QoQ) (Q4), 3.0%, 4.4%
08:30 AM ET GDP Price Index (QoQ) (Q4), 3.2%, 3.7%
08:30 AM ET GDP Sales (Q4), 4.5%
08:30 AM ET PCE Price index (YoY) (Dec), 2.8%, 2.8%
08:30 AM ET PCE price index (MoM) (Dec), 0.4%, 0.2%
08:30 AM ET PCE Prices (Q4), 2.8%
08:30 AM ET Personal Income (MoM) (Dec), 0.3%, 0.3%
08:30 AM ET Personal Spending (MoM) (Dec), 0.4%, 0.5%
08:30 AM ET Real Consumer Spending (Q4), 3.5%
08:30 AM ET Real Personal Consumption (MoM) (Dec), 0.3%
09:45 AM ET FOMC Member Bostic Speaks
09:45 AM ET S&P Global Manufacturing PMI (Feb), 52.4, 52.4
09:45 AM ET S&P Global Composite PMI (Feb), 53.0
09:45 AM ET S&P Global Services PMI (Feb), 53.0, 52.7
10:00 AM ET Atlanta Fed GDPNow (Q1), 3.0%, 3.0%
10:00 AM ET Dallas Fed PCE (Dec), 1.50%
10:00 AM ET Michigan 1-Year Inflation Expectations (Feb), 3.5%, 4.0%
10:00 AM ET Michigan 5-Year Inflation Expectations (Feb), 3.4%, 3.3%
10:00 AM ET Michigan Consumer Expectations (Feb), 56.6, 57.0
10:00 AM ET Michigan Consumer Sentiment (Feb), 57.3, 56.4
10:00 AM ET Michigan Current Conditions (Feb), 58.3, 55.4
10:00 AM ET New Home Sales (MoM) (Dec), -0.1%
10:00 AM ET New Home Sales (Dec), 732K, 737K
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 409
13:00 PM ET U.S. Baker Hughes Total Rig Count, 551
13:15 PM ET Fed Logan Speaks
15:30 PM ET CFTC Aluminium speculative net positions, -3.2K
15:30 PM ET CFTC Copper speculative net positions, 45.9K
15:30 PM ET CFTC Corn speculative net positions, -18.3K
15:30 PM ET CFTC Crude Oil speculative net positions, 117.8K
15:30 PM ET CFTC Gold speculative net positions, 160.0K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 13.4K
15:30 PM ET CFTC Natural Gas speculative net positions, -171.9K
15:30 PM ET CFTC S&P 500 speculative net positions, -105.1K
15:30 PM ET CFTC Silver speculative net positions, 23.0K
15:30 PM ET CFTC Soybeans speculative net positions, 146.3K
15:30 PM ET CFTC Wheat speculative net positions, -71.3K