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 +84 points.

Wednesday the Dow closed up +90.73 (+0.26%) at 34,390.72.

Year-to-date the Dow is up +12.36%.

There were 17 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Boeing (BA) 225.36 (+3.18%), Merck (MRK) 75.09 (+2.41%) and Walgreens (WBA) 48.71 (+1.29%).

The Dow stock losers Wednesday were led by Caterpillar (CAT) 197.87 (-1.34%), Goldman Sachs (GS) 384.89 (-1.18%) and Dow (DOW) 58.82 (-1.08%).

The 10-year Treasury yield dipped Thursday but remained near highs back to June at around 1.52%.

Federal Reserve Chairman Jerome Powell returns to Capitol Hill, this time to testify before the House Financial Services Committee. On Tuesday, he told the Senate Banking Committee that inflation pressures could last longer than expected. Powell echoed that warning at an ECB event Wednesday.

The Labor Department reported Thursday morning that initial jobless claims increased to 362,000 for the week ending Sept. 25. Economists had been expecting a modest decline.

The Commerce Department’s third look at second-quarter gross domestic product was revised higher to an annual growth rate of 6.7%. That was slightly higher than estimates.

The Senate has reached a deal to avoid a government shutdown, Majority Leader Chuck Schumer said late Wednesday. The legislation would fund the government into early December and provide money for hurricane relief and Afghan refugee resettlement. But it won’t include a debt-ceiling suspension. Congress has to pass a funding bill before midnight to avoid a shutdown. Lawmakers will now have to separately raise the U.S. debt ceiling before Oct. 18 to prevent a first-ever government default. The House on Wednesday passed a bill that’s basically dead on arrival in the Senate because Republicans don’t want anything to do with raising the debt ceiling.

The $1 trillion bipartisan infrastructure bill faces an uncertain future. House Speaker Nancy Pelosi told reporters Wednesday she wants it to pass Thursday, but she left room to delay the vote. The package, which passed the Senate last month, is running into opposition from progressive Democrats, who want action first on their party’s massive $3.5 trillion reconciliation bill to bolster social safety nets. House Republicans are trying put pressure on Democrats, urging GOP members to vote “no” on the infrastructure bill.

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

The national average price of gasoline is up one-tenth of a cent at $3.189 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) 139.18 (+1.24%) is up +10.57% in 2021.

Financial Calendar

8:30 AM ET GDP

8:30 AM ET Jobless Claims

8:30 AM ET Corporate Profits

9:45 AM ET Chicago PMI

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

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

3:00 PM ET Farm Prices

4:30 PM ET Fed Balance Sheet