There are no Dow stocks hitting 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +152 points.

Wednesday the Dow was up +10.59 (+0.03%) at 34,323.05.

Year-to-date the Dow is up +12.14%.

There were 16 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Nike (NKE) 136.89 (+1.91%), Salesforce (CRM) +0.87%) and Goldman Sachs (GS) 367.40 (+0.79%).

The Dow stock losers Wednesday were led by Walgreens (WBA) 52.01 (-4.02%), Amgen (AMGN) 238.55 (-1.43%) and Visa (V) 227.07 (-0.85%).

The Dow Jones Industrial Average hit a major milestone: The blue-chip index turned 125 years old.

Unemployment insurance weekly claims in the week ending May 22, the advance figure for seasonally adjusted initial claims was 406,000, a decrease of 38,000 from the previous week’s unrevised level of 444,000. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The 4-week moving average was 458,750, a decrease of 46,000 from the previous week’s unrevised average of 504,750. This is the lowest level for this average since March 14, 2020 when it was 225,500. The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 15, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 15 was 3,642,000, a decrease of 96,000 from the previous week’s revised level. The previous week’s level was revised down by 13,000 from 3,751,000 to 3,738,000. The 4-week moving average was 3,675,000, a decrease of 2,750 from the previous week’s revised average. The previous week’s average was revised down by 3,250 from 3,681,000 to 3,677,750. The total number of continued weeks claimed for benefits in all programs for the week ending May 8 was 15,802,126, a decrease of 175,255 from the previous week. There were 31,578,845 weekly claims filed for benefits in all programs in the comparable week in 2020.

The second estimate of first-quarter gross domestic product held steady at an annual growth rate of 6.4%. In the fourth quarter of 2020, GDP increased 4.3%.

April durable goods orders dropped 1.3%. Economists had called for a 0.9% increase following an upwardly revised March gain of 1.3%.

European stocks are mostly higher and Asian markets ended mostly lower.

The national average price of gasoline is up six-tenths of a cent at $3.041 per gallon.

Earnings Reports

Disney (DIS) reported earnings on 5/13/2021 after the market close of $0.79, beating estimates of $0.312 per share.

Home Depot (HD) reported earnings on 5/18/2021 before the market open of $3.86, beating estimates of $3.04 per share.

Walmart (WMT) reported earnings on 5/18/2021 before the market open of $1.69, beating estimates of $1.216 per share.

Cisco (CSCO) reports earnings on 5/19/2021 after the market close of $0.83, beating estimates of $0.742 per share.

Salesforce (CRM) reports earnings of 5/27/2021 after the market close.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 201.58 (-0.06%) is up +15.33% in 2021.

Financial Calendar

8:30 AM ET Durable Goods Orders

8:30 AM ET GDP

8:30 AM ET Jobless Claims

8:30 AM ET Corporate Profits

10:00 AM ET Pending Home Sales Index

10:30 AM ET EIA Natural Gas Report

11:00 AM ET Kansas City Fed Manufacturing Index

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

1:00 PM ET 7-Yr Note Auction

4:30 PM ET Fed Balance Sheet