DJIA Market Happenings For Friday, July 1, 2022 – Cisco (CSCO) 42.64 Down -32.71% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include American Express (AXP) 138.62 (-0.24%), Honeywell (HON) 173.81 (+0.35%), JPMorgan (JPM) 112.61 (-2.33%), 3M (MMM) 129.41 (-0.28%), Nike (NKE) 102.20 (-1.02%) and Walgreens (WBA) 37.90 (-7.27%).

The Market

Premarket today, the Dow was indicated to open down -84 points.

Thursday the Dow closed down 253.88 (-0.82%) at 30,775.43.

Year-to-date the Dow is down -15.31%.

There were 8 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Travelers (TRV) 169.13 (+2.01%), Procter & Gamble (PG) 143.79 (+1.12%) and Honeywell (HON) 173.81 (+0.35%).

The Dow stock losers Thursday were led by Walgreens (WBA) 37.90 (-7.27%), Salesforce (CRM) 165.04 (-3.26%) and Caterpillar (CAT) 178.76 (-2.57%).

The 10 YR yield is currently at 3.040% and the VIX is at 28.71 (+1.95%).

Markets are looking to rebound following the worst first half for stocks in 52 years. But inflation, the major culprit behind that weak performance in equities markets and other sectors, didn’t appear to be abating at any meaningful rate. Indeed, futures were down Friday morning, ahead of the long weekend, as investors gird for a potentially rocky earnings season. U.S. stock markets will be closed Monday for the Fourth of July.

U.S. 10-year Treasury yields fell to a near one-month low in early morning trading Friday, before recovering somewhat. Investors are weighing the potential for a recession. Bond traders will chew over more economic data Friday morning, with ISM manufacturing data and light vehicle sales for June, along with construction spending for May, set to be released at 10 a.m. ET.

Surging prices are taking their toll on other major economies as well. The European Central Bank on Friday said year-over-year inflation rose 8.6% in June. The ECB is expected to raise rates for the first time in 11 years later this month, and is projected to follow through with another increase in September. Earlier this week, ECB President Christine Lagarde said the central bank would move even faster if inflation didn’t improve, although she still expects growth. The ECB’s rates have been negative since 2014.

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

The national average price of gasoline is down 1.5 cents at $4.842 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/27/22 after the market close with $0.90, beating estimates of $0.812 per share.

Walgreens (WBA) reported earnings on 6/30/22 before the market open with $0.96, beating estimates of $0.953 per share.

JPMorgan (JPM) reports earnings on 7/14/22 before the market open.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 42.64 (-0.56%) is down -32.71% in 2022.

Financial Calendar

09:45 AM ET Manufacturing PMI (Jun)
10:00 AM ET Construction Spending (MoM) (May)
10:00 AM ET ISM Manufacturing Employment (Jun)
10:00 AM ET ISM Manufacturing New Orders Index (Jun)
10:00 AM ET ISM Manufacturing PMI (Jun)
10:00 AM ET ISM Manufacturing Prices (Jun)
13:00 AM ET U.S. Baker Hughes Oil Rig Count
13:00 AM ET U.S. Baker Hughes Total Rig Count
15:30 PM ET CFTC Aluminium speculative net positions
15:30 PM ET CFTC Copper speculative net positions
15:30 PM ET CFTC Corn speculative net positions
15:30 PM ET CFTC Crude Oil speculative net positions
15:30 PM ET CFTC Gold speculative net positions
15:30 PM ET CFTC Nasdaq 100 speculative net positions
15:30 PM ET CFTC Natural Gas speculative net positions
15:30 PM ET CFTC S&P 500 speculative net positions
15:30 PM ET CFTC Silver speculative net positions
15:30 PM ET CFTC Soybeans speculative net positions
15:30 PM ET CFTC Wheat speculative net positions

Dow 30 Closing Prices For Thursday, June 30, 2022

Dow 30 Closing Prices Thursday 06/30/2022

Symbol, Last, Net Chng, %Change
AAPL,136.72,-2.51,-1.80%
AMGN,243.30,-2.13,-0.87%
AXP,138.62,-.33,-0.24%
BA,136.72,-1.73,-1.25%
CAT,178.76,-4.72,-2.57%
CRM,165.04,-5.57,-3.26%
CSCO,42.64,-.24,-0.56%
CVX,144.78,-2.20,-1.50%
DIS,94.40,-1.25,-1.31%
DOW,51.61,-.37,-0.71%
GS,297.02,-6.26,-2.06%
HD,274.27,+.40,+0.15%
HON,173.81,+.61,+0.35%
IBM,141.19,+.48,+0.34%
INTC,37.41,+.12,+0.32%
JNJ,177.51,+.52,+0.29%
JPM,112.61,-2.69,-2.33%
KO,62.91,+.18,+0.29%
MCD,246.88,-.86,-0.35%
MMM,129.41,-.36,-0.28%
MRK,91.17,-1.34,-1.45%
MSFT,256.83,-3.43,-1.32%
NKE,102.20,-1.05,-1.02%
PG,143.79,+1.59,+1.12%
TRV,169.13,+3.33,+2.01%
UNH,513.63,-2.08,-0.40%
V,196.89,-2.61,-1.31%
VZ,50.75,-.19,-0.37%
WBA,37.90,-2.97,-7.27%
WMT,121.58,-.34,-0.28%

The Dow Market Happenings For Thursday, June 30, 2022 – Salesforce (CRM) 170.61 Down -32.87% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Honeywell (HON) 173.20 (-1.56%) and Nike (NKE) 103.25 (+0.46%).

The Market

Premarket today, the Dow was indicated to open down -334 points.

Wednesday the Dow closed up +82.32 (+0.27%) at 31,029.31.

Year-to-date the Dow is down -14.61%.

There were 14 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by McDonald’s (MCD) 247.74 (+2.02%), Microsoft (MSFT) 260.26 (+1.47%) and UnitedHealth (UNH) 515.71 (+1.43%).

The Dow stock losers Wednesday were led by Caterpillar (CAT) 183.48 (+2.11%), Chevron (CVX) 146.98 (-1.97%) and American Express (AXP) 139.47 (-1.91%).

The 10 YR yield is currently at 3.123% and the VIX is at 28.16 (-0.71%).

Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage point less than the previous month but still around levels last seen in the 1980s. Expectations were for a reading around 4.8%. On monthly basis, the measure, which excludes volatile food and energy prices, increased 0.3%, slightly less than the 0.4% estimate. Headline inflation, however, shot higher, rising 0.6% for the month, much faster than the 0.2% gain in April. That kept year-over-year inflation at 6.3%, the same as in April and down slightly from March’s 6.6%, which was the highest reading since January 1982. In addition, the report reflected pressures on consumer spending, which accounts for nearly 70% of all economic activity in the U.S. While personal income rose 0.5% in May, ahead of the 0.4% estimate, income after taxes and other charges, or disposable personal income, declined 0.1% on the month and 3.3% from a year ago. Spending adjusted for inflation fell 0.4%, a sharp drop from the 0.3% gain in April, though it was up 2.1% on a year-over-year basis. Goods inflation rose 9.6% while services prices were up 4.7%, both up 0.1 percentage point from April. The personal saving rate edged higher, rising to 5.4%, up 0.2 percentage point from the previous month. The consumer price index, which measures a broad range of goods and services and is more closely watched by the public, rose 8.6% in May, its highest level since late 1981.

The Labor Department reported that jobless claims edged lower to 231,000 for the week ended June 25. That was a decline of 2,000 from the previous period though 1,000 higher than the estimate. Continuing claims, which run a week behind the headline number, totaled 1.33 million, a slight decline from the previous week.

Walgreens (WBA) earnings report Thursday beat expectations, thanks in part to growth in online sales. Walgreens, which said it administered millions of Covid tests and vaccines during the quarter, also stuck by its profit outlook for the year. Shares of the company fell more than 2% in light premarket trading.

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

The national average price of gasoline is down 1.1 cents at $4.857 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/27/22 after the market close with $0.90, beating estimates of $0.812 per share.

Walgreens (WBA) reported earnings on 6/30/22 before the market open with $0.96, beating estimates of $0.953 per share.

Today’s Featured Dow Stock

Salesforce (CRM)

Salesforce (CRM) 170.61 (-0.50%) is down -32.87% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims
08:30 AM ET Core PCE Price Index (MoM) (May)
08:30 AM ET Core PCE Price Index (YoY) (May)
08:30 AM ET Initial Jobless Claims
08:30 AM ET Jobless Claims 4-Week Avg
08:30 AM ET PCE Price index (YoY) (May)
08:30 AM ET PCE price index (MoM) (May)
08:30 AM ET Personal Income (MoM) (May)
08:30 AM ET Personal Spending (MoM) (May)
08:30 AM ET Real Personal Consumption (MoM) (May)
09:45 AM ET Chicago PMI (Jun)
10:30 AM ET Natural Gas Storage
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction
15:30 PM ET Dallas Fed PCE (May)


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