DJIA Market Happenings For Friday, September 24, 2021 – Dow (DOW) +3.54% YTD


Dow stocks hitting 52 week highs include Salesforce (CRM). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -164 points.

Thursday the Dow closed up +506.50 (+1.48%) at 34,764.82.

Year-to-date the Dow is up +13.59%.

There were 27 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Salesforce (CRM) 277.86 (+7.21%), American Express (AXP) 173.36 (+3.50%) and JPMorgan (JPM) 161.18 (+3.38%).

The Dow stock losers Thursday were Coca Cola (KO) 54.04 (-0.17%), UnitedHealth (UNH) 408.03 (-0.16%) and Home Depot (HD) 335.91 (-0.01%).

Nike (NKE) dropped 5% in Friday’s premarket, the morning after the company said global supply chain congestion is hurting the business more than it anticipated. The sneaker giant lowered its fiscal 2022 outlook. Nike did beat estimates on earnings but missed on revenue. See earnings section below.

The head of the Centers for Disease Control and Prevention overruled an advisory panel Friday, approving the distribution of Pfizer’s Covid boosters to a wide array of workers across the U.S. CDC Director Dr. Rochelle Walensky signed off on a series of recommendations from the panel, including distributing the shots to older Americans and adults with underlying medical conditions at least six months after their second shots. But in an usual move, she broke from the panel by also clearing boosters for those in high-risk occupational and institutional settings.

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

The national average price of gasoline is unchanged at $3.189 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 9/23/2021 after the market close of $1.16, beating estimates of $1.119 per share.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 57.43 (+2.01%) is up +3.54% in 2021.

Financial Calendar

10:00 AM ET New Home Sales

10:00 AM ET Jerome Powell Speaks

1:00 PM ET Baker Hughes Rig Count

The Dow Market Happenings For Thursday, September 23, 2021 – Disney (DIS) -4.16% YTD

There are no Dow stocks hitting 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +196 points.

Wednesday the Dow closed up +338.48 (+1.00%) at 34,258.32.

Year-to-date the Dow is up +11.93%.

There were 25 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Boeing (BA) 216.98 (+4.06%), Chevron (CVX) 97.64 (+2.94%) and American Express (AXP) 167.49 (+2.58%).

The Dow stock losers Wednesday were led by UnitedHealth (UNH) 408.70 (-0.88%), Amgen (AMGN) 213.64 (-0.80%) and Johnson & Johnson (JNJ) 163.93 (-0.36%).

Yesterday, the Dow took comfort in signaling from the Federal Reserve that it had no immediate intentions of removing U.S. monetary stimulus policies. The Fed’s forecasts decreased numbers for U.S. growth, increased inflation expectations and pushed up the timing for an interest rate hike. The Federal Open Market Committee now sees gross domestic product rising just 5.9% this year. Core inflation is projected to increase 3.7% this year. Against that backdrop, the Fed left near-zero interest rates unchanged Wednesday afternoon. But most members now see the first rate increase in 2022. The Fed gave no timetable for tapering its bond purchases. However, Fed Chairman Jerome Powell said during his post-meeting news conference that if the recovery remains on track, “a gradual tapering process that concludes around the middle of next year is likely to be appropriate.”

The U.S. government’s weekly look at initial jobless claims unexpectedly rose to 351,000. Economists had expected a decline in new claims for week ended Sept. 18 to 320,000, near Covid pandemic lows. The prior week was revised higher to 335,000.

The CDC may vote Thursday on the FDA’s decision to authorize a Pfizer Covid booster shot for people 65 and older as well as other vulnerable Americans six months after they complete their first two doses. If the CDC approves, booster shots for those groups could begin immediately.

US futures are 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 $3.189 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/23/2021 after the market close.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 173.65 (+1.45%%) is down -4.16% in 2021.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET Chicago Fed National Activity Index

9:45 AM ET PMI Composite Flash

10:00 AM ET Leading Indicators

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Kansas City Fed Manufacturing Index

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 2-Yr Note Announcement

11:00 AM ET 5-Yr Note Announcement

11:00 AM ET 7-Yr Note Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 10-Yr TIPS Auction

4:30 PM ET Fed Balance Sheet

DJIA Market Happenings For Wednesday, September 22, 2021 – Chevron (CVX) +12.32% YTD

There are no Dow stocks hitting 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +176 points.

Tuesday the Dow closed down -50.63 (-0.15%) at 33,919.84.

Year-to-date the Dow is up +10.83%.

There were 15 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by American Express (AXP) 163.27 (+1.68%), Home Depot (HD) 334.22 (+0.91%) and McDonald’s (MCD) 240.50 (+0.59%).

The Dow stock losers Tuesday were led by Disney (DIS) 171.17 (-4.17%), 3M (MMM) 178.42 (-1.17%) and Dow (DOW) 55.53 (-1.16%).

The Fed concludes its two-day September meeting Wednesday, releasing its latest policy statement along with quarterly economic and interest rate forecasts at 2 p.m. ET. Fed Chairman Jerome Powell is expected to brief the media 30 minutes later. The central bank is widely expected to indicate that it’s getting ready to announce a timetable for paring back its $120 billion in monthly purchases of Treasurys and mortgage-backed securities. No change in near-zero rates is expected. Powell has said that raising borrowing costs will be considered separately from tapering.

The House passed a bill to prevent a federal government shutdown and suspend the debt limit in a step toward preventing possible economic calamity. Tuesday’s vote was 220-211, with all Democrats supporting it and all Republicans opposing it. As the measure heads to the Senate, Republicans are threatening to block it, which could leave Democrats scrambling to find another way forward. Congress has to pass a funding plan by Sept. 30 to prevent a shutdown. The U.S. also will exhaust all of its options to keep paying its bills sometime in October, Treasury Secretary Janet Yellen has told congressional leaders.

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

The national average price of gasoline is down two-tenths of a cent at $3.190 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/23/2021 after the market close.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 94.85 (+0.07%) is up +12.32% in 2021.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

10:00 AM ET EC Consumer Confidence Flash

10:00 AM ET Existing Home Sales

10:30 AM ET EIA Petroleum Status Report

11:30 AM ET 2-Yr FRN Note Auction

2:00 PM ET FOMC Announcement

2:30 PM ET Fed Chair Press Conference