There are no Dow stocks hitting 52 week highs. There are no Dow stock 52 week lows.
Premarket today, the Dow was indicated to open up +185 points.
Monday the Dow closed down -614.41 (-1.78%) at 33,970.47.
Year-to-date the Dow is up +10.99%.
There was 1 Dow stock up Monday.
The Dow stock winner Monday was Merck (MRK) 71.93 (+0.35%).
The Dow stock losers Monday were led by Caterpillar (CAT) 190.82 (-4.47%), Goldman Sachs (GS) 378.13 (-3.41%), JPMorgan JPM) 152.96 (-2.99%), Dow (DOW) 56.18 (-2.72%) and Disney (DIS) 178.61 (-2.65%).
The Fed begins their two-day September meeting this morning. Central bankers release their policy statement Wednesday, followed by a Powell news conference.
The Dow was down 971 points at Monday’s low, which was almost 5.7% below last month’s intraday all-time high.
August housing starts increased a better-than-expected 3.9% to an annual rate of nearly 1.62 million units compared to a revised 6.2% decline in July. Building permits in August rose 6% to nearly 1.73 million. Economists had seen a 2.1% drop. The July increase was revised slightly lower to 2.2%.
Democratic congressional leaders said they will try to pass a bill that prevents a government shutdown and suspends the U.S. debt limit through the end of 2022. They’re trying to simultaneously dodge two possible crises. Congress faces a Sept. 30 deadline to fund the federal government. Treasury Secretary Janet Yellen has told lawmakers the U.S. will likely not be able to pay its bills sometime in October if lawmakers don’t suspend or raise the debt ceiling. Senate Minority Leader Mitch McConnell, R-Ky., has been trying to force Democrats to use their slim Senate and House majorities to deal with the debt ceiling on their own.
Johnson & Johnson (JNJ) shares gained 0.8% in early morning trading after the pharmaceutical company said its Covid-19 booster shot is 94% effective when administered two months after the first dose in the U.S. The company said the booster increases antibody levels four to six times higher than just one shot
Chevron (CVX) rebounded more than 1% in the premarket as crude prices rose.
US futures are higher, European stocks are higher and Asian markets ended mostly higher.
The national average price of gasoline is down three-tenths of a cent at $3.192 per gallon.
Nike (NKE) reports earnings on 9/23/2021 after the market close.
Today’s Featured Dow Stock
Cisco (CSCO) 55.89 (-1.69%) is up +24.89% in 2021.
FOMC Meeting Begins
8:30 AM ET Housing Starts and Permits
8:30 AM ET Current Account
8:55 AM ET Redbook
11:00 AM ET 4-Week Bill Announcement
11:00 AM ET 8-Week Bill Announcement
1:00 PM ET 20-Yr Bond Auction