The Dow Market Happenings For Thursday, December 8, 2022 – Walgreens (WBA) 40.65 Down -22.07% YTD

Dow stocks hitting 52-week highs include Travelers (TRV) 188.05 (-0.24%). Dow stock 52-week lows include Salesforce (CRM) 130.48 (-2.09%).

The Market

Premarket today, the Dow was indicated to open up +101 points.

Wednesday the Dow closed up +1.58 (+0.00%) at 33,597.92.

Year-to-date the Dow is down -7.54%.

Wednesday, (15) Dow 30 stocks were up, (1) was at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by 3m (MMM) 126.35 (+1.42%), Merck (MRK) 110.09 (+1.06%) and Amgen (AMGN) 285.76 (+0.87%).

The Dow stock losers Wednesday were led by Salesforce (CRM) 130.48 (-2.09%), Apple (AAPL) 140.94 (-1.38%) and Boeing (BA) 176.50 (-1.08%).

The 10 YR yield closed Wednesday at 3.459 and the VIX at 22.68 (+2.30%). The 10 YR is currently at 3.500 and VIX is at 22.65 (+2.17%).

Investors’ attention has shifted toward next week’s Federal Reserve policy meeting, where the central bank is widely expected to issue a 50 basis point interest rate hike. It’s a smaller increase than the prior four rate hikes, but may do little to alleviate concerns over whether the Fed can avoid a recession next year in its attempt to squash surging prices. November’s consumer price index, due Tuesday, should also provide more clarity on the direction of inflation.

Jobless claims showed a slight bounce higher last week to 230,000, which was exactly in line with the Dow Jones estimate, the Labor Department said Thursday. The total for the week ended Dec. 3 represented an increase of 4,000 from the previous period and also matched the four-week moving average computed to smooth out weekly volatility. Continuing claims, which run a week behind, rose 62,000 to 1.671 million, an increase of 62,000 to the highest level since Feb. 5.

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

The national average price of gasoline is down 2.6 cents at $3.329 per gallon.

Earnings Reports

Nike (NKE) will report earnings on 12/20/22 after the market close.

Today’s Featured Dow Stock

Walgreens (WBA)

Walgreens (WBA) 40.65 (+0.15%) is down -22.07% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,600K, 1,608K
08:30 AM ET Initial Jobless Claims, 230K, 225K
08:30 AM ET Jobless Claims 4-Week Avg., 228.75K
10:30 AM ET Natural Gas Storage, -31B, -81B
11:30 AM ET 4-Week Bill Auction, 3.950%
11:30 AM ET 8-Week Bill Auction, 4.080%

Dow 30 Closing Prices For Wednesday, December 7, 2022

Dow 30 Closing Prices Wednesday 12/7/2022

Symbol, Last, Net Chng, %Change
AAPL,140.94,-1.97,-1.38%
AMGN,285.76,+2.47,+0.87%
AXP,154.77,+.07,+0.05%
BA,176.50,-1.93,-1.08%
CAT,228.98,+.69,+0.30%
CRM,130.48,-2.79,-2.09%
CSCO,48.18,-.41,-0.84%
CVX,172.52,+.51,+0.30%
DIS,92.15,-.14,-0.15%
DOW,50.70,-.35,-0.69%
GS,359.92,-2.99,-0.82%
HD,320.15,+2.70,+0.85%
HON,213.45,+.26,+0.12%
IBM,147.27,-.23,-0.16%
INTC,28.33,-.27,-0.94%
JNJ,177.17,+1.07,+0.61%
JPM,131.50,-.09,-0.07%
KO,63.54,+.10,+0.16%
MCD,270.34,-1.43,-0.53%
MMM,126.35,+1.77,+1.42%
MRK,110.09,+1.16,+1.06%
MSFT,244.37,-.75,-0.31%
NKE,108.33,+.40,+0.37%
PG,150.24,+.96,+0.64%
TRV,188.05,-.45,-0.24%
UNH,542.91,+3.59,+0.67%
V,207.81,-1.27,-0.61%
VZ,37.17,+.28,+0.76%
WBA,40.65,+.06,+0.15%
WMT,149.11,-.78,-0.52%

The Dow was pretty much unchanged ending at +0.00% today with (15) components up.

DJIA Market Happenings For Wednesday, December 7, 2022 – Verizon (VZ) 36.89 Down -29.00% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Salesforce (CRM) 133.27 (-0.49%).

The Market

Premarket today, the Dow was indicated to open down -18 points.

Tuesday the Dow closed down -350.76 (-1.03%) at 33,596.34.

Year-to-date the Dow is down -7.55%.

Tuesday, (6) Dow 30 stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by UnitedHealth (UNH) 539.32 (+0.80%), Travelers (TRV) +0.69%) and JPMorgan (JPM) 131.59 (+0.17%).

The Dow stock losers Monday were led by Disney (DIS) 92.29 (-3.79%), Boeing (BA) 178.43 (-3.60%) and Chevron (CVX)172.01 (-2.58%).

The 10 YR yield closed Tuesday at 3.545 and the VIX at 22.17 (+6.84%). The 10 YR is currently at 3.500 and VIX is at 22.65 (+2.17%).

Futures slide again with traders fretting over the possibility of a recession as the Federal Reserve could raise rates for longer than expected.

Productivity in the third quarter was better than originally thought while unit labor costs were considerably less, according to revised Labor Department data Wednesday. Unit labor costs, a measure of hourly pay compared to production, rose 2.4% for the period, a substantial downward revision from the initially reported 3.5%. That came thanks to a 0.5 percentage point upward revision in productivity and a 0.6% downward change in compensation costs. Productivity increased 0.8%, coming up from 0.3% as the result of a 0.5 percentage point upward move in output along with a 0.1 percentage point increase in hours worked. Both numbers were better than expected. Estimates had put productivity at 0.7% and unit labor costs at 3.1%.

Sen. Raphael Warnock made history Tuesday night by becoming the first full-term Black U.S. senator elected by Georgia. His victory in a runoff against Republican candidate and former football star Herschel Walker – who had the backing of former President Donald Trump – also gave Democrats a 51-49 edge in the Senate, giving them more leverage and putting an exclamation point on a much-better-than-expected midterm election cycle for the party. While Democrats lost the House, narrowly, they actually gained a seat in the Senate. Usually, an incumbent president’s party suffers big losses during the midterms. Now, while President Joe Biden likely won’t be able to advance his legislative agenda for the next two years, he will now likely have an easier time confirming judges and any Cabinet appointments he may have to make.

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

The national average price of gasoline is down 2.5 cents at $3.355 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 36.89 (-0.49%) is down -29.00% in 2022.

Financial Calendar

08:30 AM ET Exports, 256.60B, 258.50B
08:30 AM ET Imports, 334.80B, 331.30B
08:30 AM ET Trade Balance (Oct), -78.20B, -80.00B, -74.10B
08:55 AM ET Redbook (YoY), 5.7%, 10.4%
12:00 AM ET EIA Short-Term Energy Outlook
16:30 AM ET API Weekly Crude Oil Stock -6.426M, -3.884M, -7.850M


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