The Dow Market Happenings For Wednesday, December 1, 2021 – Cisco (CSCO) Up +22.55% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Amgen (AMGN), Disney (DIS) and Verizon (VZ).

The Market

Premarket today, the Dow was indicated to open up +328 points.

Tuesday the Dow closed down -652.22 (-1.86%) at 34,483.72.

Year-to-date the Dow is up +12.67%.

There were 2 Dow stocks up Tuesday.

The Dow stock winners Tuesday were Apple (AAPL) 165.30 (+3.16%) and Merck (MRK) 74.91 (+0.03%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 284.96 (-3.97%), Travelers 146.95 (-3.58%), American Express (AXP) 152.30 (-3.52%) and 3M (MMM) 170.04 (-3.51%).

Fed Chairman Jerome Powell goes before a House panel Wednesday, one day after telling senators that central bankers are expected to discuss speeding up their tapering of bond purchases as they battle rising inflation.

Bond yields moved higher Wednesday, with the 10-year Treasury yield back near 1.48% after falling Tuesday on fears the pandemic would stifle economic growth. ADP’s private payroll data showed U.S. companies added a better-than-expected 534,000 jobs in November, lower than October’s slightly downwardly revised 570,000.

U.S. oil prices rebounded more than 4.5% on Wednesday, one day after falling over 5% on worries the omicron variant would curb demand. The American benchmark, West Texas Intermediate crude, dropped nearly 21% in November. OPEC and its international allies meet Thursday. Some analysts expect OPEC+ to pause plans to add 400,000 barrels per day of supply in January.

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

The national average price of gasoline is down five-tenths of a cent at $3.385 per gallon.

Earnings Reports

Salesforce (CRM) reported earnings on 11/30/2021 after the close with $1.27, beating estimates of $0.278 per share.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 54.84 (-1.65%) is up +22.55% in 2021.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA Mortgage Applications
07:00 AM ET MBA Purchase Index
07:00 AM ET Mortgage Market Index
07:00 AM ET Mortgage Refinance Index
08:15 AM ET ADP Nonfarm Employment Change
09:45 AM ET Manufacturing PMI
10:00 AM ET Construction Spending
10:00 AM ET Fed Chair Powell Testifies
10:00 AM ET ISM Manufacturing Employment
10:00 AM ET ISM Manufacturing New Orders Index
10:00 AM ET ISM Manufacturing PMI
10:00 AM ET ISM Manufacturing Prices
10:00 AM ET Treasury Secretary Yellen Speaks
10:30 AM ET Crude Oil Inventories
10:30 AM ET EIA Refinery Crude Runs
10:30 AM ET Crude Oil Imports
10:30 AM ET Cushing Crude Oil Inventories
10:30 AM ET Distillate Fuel Production
10:30 AM ET EIA Weekly Distillates Stocks
10:30 AM ET Gasoline Production
10:30 AM ET Heating Oil Stockpiles
10:30 AM ET EIA Weekly Refinery Utilization Rates
10:30 AM ET Gasoline Inventories

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