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

The Dow Market Happenings For Tuesday, September 21, 2021 – Cisco (CSCO) +24.89% 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 +185 points.

Monday the Dow closed down -614.41 (-1.78%) at 33,970.47.

Year-to-date the Dow is up +10.99%.

There was 1 Dow stock up Monday.

The Dow stock winner Monday was Merck (MRK) 71.93 (+0.35%).

The Dow stock losers Monday were led by Caterpillar (CAT) 190.82 (-4.47%), Goldman Sachs (GS) 378.13 (-3.41%), JPMorgan JPM) 152.96 (-2.99%), Dow (DOW) 56.18 (-2.72%) and Disney (DIS) 178.61 (-2.65%).

The Fed begins their two-day September meeting this morning. Central bankers release their policy statement Wednesday, followed by a Powell news conference.

The Dow was down 971 points at Monday’s low, which was almost 5.7% below last month’s intraday all-time high.

August housing starts increased a better-than-expected 3.9% to an annual rate of nearly 1.62 million units compared to a revised 6.2% decline in July. Building permits in August rose 6% to nearly 1.73 million. Economists had seen a 2.1% drop. The July increase was revised slightly lower to 2.2%.

Democratic congressional leaders said they will try to pass a bill that prevents a government shutdown and suspends the U.S. debt limit through the end of 2022. They’re trying to simultaneously dodge two possible crises. Congress faces a Sept. 30 deadline to fund the federal government. Treasury Secretary Janet Yellen has told lawmakers the U.S. will likely not be able to pay its bills sometime in October if lawmakers don’t suspend or raise the debt ceiling. Senate Minority Leader Mitch McConnell, R-Ky., has been trying to force Democrats to use their slim Senate and House majorities to deal with the debt ceiling on their own.

Johnson & Johnson (JNJ) shares gained 0.8% in early morning trading after the pharmaceutical company said its Covid-19 booster shot is 94% effective when administered two months after the first dose in the U.S. The company said the booster increases antibody levels four to six times higher than just one shot

Chevron (CVX) rebounded more than 1% in the premarket as crude prices rose.

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

The national average price of gasoline is down three-tenths of a cent at $3.192 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 55.89 (-1.69%) is up +24.89% in 2021.

Financial Calendar

FOMC Meeting Begins

8:30 AM ET Housing Starts and Permits

8:30 AM ET Current Account

8:55 AM ET Redbook

11:00 AM ET 4-Week Bill Announcement

11:00 AM ET 8-Week Bill Announcement

1:00 PM ET 20-Yr Bond Auction

DJIA Market Happenings For Monday, September 20, 2021 – Salesforce (CRM) +17.08% YTD

There are no Dow stocks hitting 52 week highs. Dow stock 52 week lows include Merck (MRK).

The Market

Premarket today, the Dow was indicated to open down -636 points.

Friday the Dow closed down -166.44 (-0.48%) at 34,584.88.

Year-to-date the Dow is up +13.00%.

There were 6 Dow stocks up Friday.

The Dow stock winners Friday were led by Amgen (AMGN) 219.38 (+0.93%), UnitedHealth (UNH) 420.16 (+0.80%) and American Express (AXP) 163.92 (+0.79%).

The Dow stock losers Friday were led by Dow (DOW) 57.75 (-2.89%), Caterpillar (CAT) 199.75 (-1.89%) and Apple (AAPL) 146.06 (-1.83%).

Global stock markets tumbled Monday, with Dow futures’ decline of nearly 650 points, or nearly 2%, leading the way lower in the United States.

Hong Kong’s Hang Seng Index dropped more than 3% overnight on concern about a possible market contagion stemming from embattled Chinese property developer Evergrande Group, which is teetering on bankruptcy.

The Federal Reserve’s two-day September policy meeting, which starts Tuesday, is also a wild card for markets. Central bankers are considering when to begin tapering bond purchases against a backdrop of elevated inflation and a recovering economy. Fed Chairman Jerome Powell has maintained that rising prices pressures will be temporary.

U.S. Treasury Secretary Janet Yellen issued another plea to Congress to raise the federal debt ceiling. In a Wall Street Journal op-ed Sunday, Yellen said failure to do so would lead to a first-ever U.S. default and a historic financial crisis that would compound the damage from the Covid pandemic. Yellen, chair of the Fed before Powell, said last week that the Treasury would exhaust its emergency efforts to make payments on debt already incurred sometime in October.

The 10-year Treasury yield, which moves inversely to price, dropped Monday to around 1.31%.

U.S. oil prices fell 2% on Monday.

Pfizer and BioNTech said Monday their Covid vaccine is safe and generates a “robust” immune response in a clinical trial of kids 5 to 11. The companies tested a two-shot regimen of about a third the dosage used for adolescents and adults administered three weeks apart. Pfizer and BioNTech will submit their findings to the FDA and other U.S. regulators “as soon as possible.”

The FDA is expected to issue a decision sometime this week on which groups are eligible to get a third dose, or booster shot, of the Pfizer’s Covid vaccine. An FDA advisory committee Friday unanimously recommended Pfizer booster shots for people 65 and older and other vulnerable Americans.

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

The national average price of gasoline is up two-tenths of a cent at $3.195 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Salesforce (CRM)

Salesforce (CRM) 260.53 (-1.89%) is up +17.08% in 2021.

Financial Calendar

10:00 AM ET Housing Market Index

11:30 AM ET 3-Month Bill Auction

11:30 AM ET 6-Month Bill Auction