The Dow Market Happenings For Wednesday, May 30, 2018

Dow stocks at 52 week highs include Intel (INTC). Dow stock 52 week lows include Johnson & Johnson (JNJ).

The Market

Premarket today, the Dow was indicated to open up +124 points.

Tuesday the Dow was down -39.64 (-1.58%) at 24361.45.

Year-to-date the Dow is up +0.14%.

There were 2 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Coca Cola (KO) +0.66% and Pfizer (PFE) +0.06%.

The Dow stock losers Tuesday were led by JPMorgan (JPM) -4.27% and Goldman Sachs (GS) -3.40%.

Exxon-Mobile (XOM -0.37%) was upgraded to ‘Outperform’ from ‘Sector Perform’ at RBC Capital Markets with a price target of $100.

European stocks are mostly higher and Asian markets ended lower.

The national average price of gasoline is down five-tenths of a cent at $2.963 per gallon.

Earnings Reports.

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

Today’s Featured Dow Stock

Pfizer (PFE)

Pfizer (PFE) is down -1.49% year-to-date.

Financial Calendar

11:00 MBA 30-Year Mortgage Rate, 4.86%

11:00 MBA Mortgage Applications (WoW), -2.6%

11:00 MBA Purchase Index, 247.4

11:00 Mortgage Market Index, 366.7

11:00 Mortgage Refinance Index, 1,018.1

12:15 ADP Nonfarm Employment Change (May), 190K, 204K

12:30 Core PCE Prices, 2.50%, 2.50%

12:30 Corporate Profits (QoQ) (Q1), 6.0%, 1.7%

12:30 GDP (QoQ) (Q1), 2.3%, 2.3%

12:30 GDP Price Index (QoQ) (Q1), 2.0%, 2.0%

12:30 Goods Trade Balance (Apr), -71.20B, -68.29B

12:30 PCE Prices, 2.7%, 2.7%

12:30 Real Consumer Spending (Q1), 1.1%

12:30 Wholesale Inventories (MoM), 0.4%, 0.3%

14:30 Dallas Fed Services Revenues (May), 14.7

14:30 Texas Services Sector Outlook (May), 14.5

18:00 Beige Book

20:30 API Weekly Crude Oil Stock, -1.300M

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