Aftr yesterdays drop, there are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Thursday the Dow closed down -353.87 (-2.43%) at 14,758.32. That’s a drop of over -550 points in the last two days.

This morning the Dow was indicated to open up +23 points.

Year-to-date the Dow is up +12.62%. Yesterday this number was +15.32%.

Looks like we are going to have some volatility in the markets with the coming shift in monetary policy.

The Fed has been a major driver of the bull market over the past few months as it has injected liquidity into the markets.

European markets are mixed and Asian markets ended mostly lower.

The national average price of gasoline is down six-tenths of a cent to $3.592 per gallon.

Earnings Reports

There are no Dow stocks on the horizon set to report earnings.

Earnings reports from Thursday include:

Kroger (KR) reported first quarter EPS of $0.92 vs. $0.88 expected on revenue of $30.04 billion vs. $30.2 billion expected. The company also raised guidance for the full year.

Oracle (ORCL) reported fourth quarter EPS of $0.87, in line with forecasts, on revenue of $10.95 billion vs. $11.12 billion expected. However, guidance for the first quarter was slightly weak.

Pier 1 Imports (PIR) reported first quarter EPS of $0.19, in line, on revenue of $394.95 million vs. $395.02 million expected. The company also raised full year guidance which was still below Wall Street forecasts.

Rite Aid (RAD) reported first quarter EPS of $0.09, in line, on revenue of $6.29 billion vs. $6.27 billion expected. However, full year guidance was weak.

Other stocks expected to report earnings today include:

CarMax (KMX) is expected to report second quarter EPS of $0.58 vs. $0.52 a year ago.

Discover Financial (DFS) is expected to report second quarter EPS of $1.14 vs. $1.21 a year ago.

Darden Restaurants (DRI) is expected to report fourth quarter EPS of $1.04 vs. $1.15 a year ago.

Bank of America (BAC).

Bank of America (BAC) is up +11.02% year-to-date.

Financial Calendar

1500 ET May Cattle on Feed.

1500 ET May Cold Storage.