Dow stocks at 52 week highs include Apple (AAPL), Home Depot (HD) and Microsoft (MSFT). There are no Dow stock 52 week lows.
Premarket today, the Dow was indicated to open down -770 points.
Wednesday the Dow was down -282.31 (-1.04%) at 26,989.99.
Year-to-date the Dow is down -5.43%.
There were 7 Dow stocks up Wednesday.
The Dow stock winners Wednesday were Microsoft (MSFT) +3.71%, Apple (AAPL) +2.57%, and Intel (INTC) +1.32%.
The Dow stock losers Wednesday were led by Boeing (BA) -6.15%, Exxon Mobil (XOM) -5.36% and JPMorgan (JPM) -4.05%.
Unemployment insurance weekly claims in the week ending June 6, the advance figure for seasonally adjusted initial claims was 1,542,000, a decrease of 355,000 from the previous week’s revised level. The previous week’s level was revised up by 20,000 from 1,877,000 to 1,897,000. The 4-week moving average was 2,002,000, a decrease of 286,250 from the previous week’s revised average. The previous week’s average was revised up by 4,250 from 2,284,000 to 2,288,250. The advance seasonally adjusted insured unemployment rate was 14.4 percent for the week ending May 30, a decrease of 0.2 percentage point from the previous week’s revised rate. The previous week’s rate was revised down by 0.2 from 14.8 to 14.6 percent. The advance number for seasonally adjusted insured unemployment during the week ending May 30 was 20,929,000, a decrease of 339,000 from the previous week’s revised level. The previous week’s level was revised down by 219,000 from 21,487,000 to 21,268,000. The 4-week moving average was 21,987,500, a decrease of 404,750 from the previous week’s revised average. The previous week’s average was revised down by 54,000 from 22,446,250 to 22,392,250.
On Wednesday the Fedâ€™s updated policy statement and projections indicate that it expects a 6.5% contraction by the end of the year on a year-over-year basis, with the unemployment rate ending at 9.3%, well above the Fedâ€™s estimate of the long-run rate forecast of 4.1%.
With TX, AZ, CA new cv-19 cases and hospitalizations increasing and investors concerned that recent protest will fuel a wave of infections, the risk of persistently weak economic and earnings growth has increased and S&P fair value estimates are falling as a result.
European stocks are lower and Asian markets ended lower.
The national average price of gasoline is up 1.4 cents at $2.085 per gallon.
There are no Dow stocks set to report earnings in the near term.
Today’s Featured Dow Stock
IBM (IBM) is down -3.11% year-to-date. IBM (IBM) YTD low was 90.56 on 3/23/2020. That’s a +43.41% gain from the 2020 low.
8:30 AM ET Jobless Claims
8:30 AM ET PPI-FD
10:00 AM ET Quarterly Services Survey
10:30 AM ET EIA Natural Gas Report
11:00 AM ET 3-Month Bill Announcement
11:00 AM ET 6-Month Bill Announcement
11:00 AM ET 52-Week Bill Announcement
11:00 AM ET 5-Yr TIPS Announcement
11:00 AM ET 20-Yr Bond Announcement
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction
1:00 PM ET 30-Yr Bond Auction
4:30 PM ET Fed Balance Sheet
4:30 PM ET Money Supply