DJIA Market Happenings For Wednesday, June 23, 2021 – Chevron (CVX) +25.99% YTD

Dow stocks hitting 52 week highs include Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +58 points.

Tuesday the Dow was up +68.61 (+0.20%) at 33,945.58.

Year-to-date the Dow is up +10.91%.

There were 13 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Nike (NKE) 132.48 (+1.85%), Home Depot (HD) 312.71 (+1.66%) and Apple (AAPL) 133.98 (+1.27%).

The Dow stock losers Tuesday were led by Merck (MRK) 76.19 (-0.73%), Boeing (BA) 245.78 (-0.61%) and Salesforce (CRM) 243.11 (-0.56%).

Federal Reserve Chairman Jerome Powell’s latest reassurances about inflation put a lid on bond yields. The 10-year Treasury yield was little changed early Wednesday, trading around 1.47%. But even with U.S. oil prices topping $73 per barrel in this year’s 52% surge, Powell continued to attribute most of the recent inflation surge to factors closely tied to the economic recovery from the pandemic. The Fed chief told the House Select Subcommittee on the Coronavirus Crisis on Tuesday that the U.S. is unlikely to face a repeat of 1970s-style hyperinflation, primarily because of the central bank’s commitment to price stability.

US futures are higher, European stocks are mostly lower and Asian markets ended mixed.

The national average price of gasoline is up three-tenths of a cent at $3.072 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 6/24/2021 after the market close.

Walgreens (WBA) reports earnings on 7/1/2021 before the market open.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 106.40 (+0.33%) is up +25.99% in 2021.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:30 AM ET Current Account

9:45 AM ET PMI Composite Flash

10:00 AM ET New Home Sales

10:30 AM ET EIA Petroleum Status Report

11:30 AM ET 2-Yr FRN Note Auction

1:00 PM ET 5-Yr Note Auction

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