DJIA Market Happenings For Wednesday, September 12, 2018

Dow stocks at 52 week highs include American Express (AXP) and Home Depot (HD). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -15 points.

Tuesday the Dow was up +113.99 (+0.44%) at 25,971.06.

Year-to-date the Dow is up +5.06%.

There were 13 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Apple (AAPL) +2.53% and Microsoft (MSFT) +1.70%.

The Dow stock losers Tuesday were led by Intel (INTC) -2.96% and Disney (DIS) -0.98%.

Last week, Verizon Communications (VZ) increased the dividend for the 12th consecutive year. Verizon decided to the hike the quarterly dividend by 1.25 cents to 60.25 cents per share on 4.1 billion outstanding shares. The 2.1% increase pushes the dividend yield up to 4.4% now and increases the annual dividend payout obligation by roughly $200 million.

The 10-year Treasury note yield rises to 2.97 percent, just three basis points below 3 percent. Usually, the S&P 500 takes a leg lower after the 10-year breaks the level. This pattern of stocks falling as the 10-year breaches 3 percent could repeat itself.

Chevron (CVX +0.47%) was upgraded to ‘Buy’ from ‘Hold’ at HSBC with a price target of $139.

European stocks are higher and Asian markets ended lower.

The national average price of gasoline is down four-tenths of a cent at $2.839 per gallon.

Earnings Reports.

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

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) is down -9.87% year-to-date.

Financial Calendar

11:00 MBA 30-Year Mortgage Rate, 4.80%

11:00 MBA Mortgage Applications (WoW), -0.1%

11:00 MBA Purchase Index, 231.4

11:00 Mortgage Market Index, 343.5

11:00 Mortgage Refinance Index, 940.0

11:20 OPEC Monthly Report

12:30 Core PPI (YoY) (Aug), 2.7%, 2.7%

12:30 Core PPI (MoM) (Aug), 0.2%, 0.1%

12:30 PPI (YoY) (Aug), 3.2%, 3.3%

12:30 PPI (MoM) (Aug), 0.2%, 0.0%

13:30 FOMC Member Bullard Speaks

14:30 Crude Oil Inventories, -0.805M, -4.302M

14:30 Crude Oil Imports, 0.500M

14:30 Cushing Crude Oil Inventories, 0.549M

14:30 Distillate Fuel Production, 0.260M

14:30 EIA Weekly Distillates Stocks, 1.446M, 3.119M

14:30 Gasoline Production, -0.022M

14:30 Heating Oil Stockpiles, 0.196M

14:30 Gasoline Inventories, 1.321M, 1.845M

16:00 WASDE Report

16:45 FOMC Member Brainard Speaks

17:00 10-Year Note Auction, 2.960%

18:00 Beige Book

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