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 down -289 points.

Tuesday the Dow closed up +311.75 (+0.92%) at 34,314.67.

Year-to-date the Dow is up +12.12%.

There were 26 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Goldman Sachs (GS) 385.81 (+3.12%), Microsoft (MSFT) 288.76 (+2.00%) and UnitedHealth (UNH) 393.43 (+1.66%).

The Dow stock losers Tuesday were led by Merck (MRK) 81.60 (-1.81%), IBM (IBM) 142.15 (-0.67%) and Caterpillar (CAT) 192.50 (-0.33%).

The 10-year Treasury yield topped 1.55%.

Private sector employment increased by 568,000 jobs from August to September according to the September ADP® National Employment Report. Economists expected that U.S. companies created 425,000 new jobs during the month compared with 347,000 in August.

The Labor Department issues weekly jobless claims tomorrow morning and Friday brings us the September jobs report.

U.S. oil prices on Wednesday pulled back modestly from near seven-year highs, on track to break a four-session winning streak. West Texas Intermediate crude, however, gained 1.7% on Tuesday, settling at $78.93 per barrel after hitting a session high of almost $80. WTI has gained nearly 65% in 2021, adding price pressures in the U.S. at a time when the Federal Reserve is trying to gauge the staying power of higher inflation as policymakers consider whether to start reducing extraordinary Covid-era monetary stimulus measures.

President Joe Biden has conceded the final version of a $3.5 trillion package of social and environmental initiatives with only Democratic support will have to be considerably smaller. In virtual meetings with House Democrats this week, Biden said he reluctantly sees a price tag between $1.9 trillion and $2.3 trillion, a Democrat familiar with the sessions said Tuesday. Sen. Joe Manchin, a high-profile Democratic holdout, wants a bill closer to $1.5 trillion. For passage, Democrats need every vote in the 50-50 Senate and all but three in the House.

Biden said Democrats are considering a change to the Senate’s filibuster rules in order to quickly pass a debt ceiling increase needed avoid a devastating credit default. The deadline set by the Treasury Department is Oct. 18. Getting rid of the filibuster would lower the typical 60-vote threshold for passage to 50. With Vice President Kamala Harris breaking any tie, a simple majority would be enough for passage. Republicans want Democrats to utilize the reconciliation process they aim to use for the budget bill, to act on the debt ceiling.

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

The national average price of gasoline is up 1.7 cents at $3.221 per gallon.

Earnings Reports

JPMorgan (JPM) reports earnings on 10/13/2021 before the open.

UnitedHealth (UNH) reports earnings on 10/14/2021 before the open.

Walgreens (WBA) reports earnings on 10/14/2021 before the open.

Goldman Sachs (GS) reports earnings on 10/15/2021 before the open.

Today’s Featured Dow Stock

Coca Cola (KO)

Coca Cola (KO) 53.08 (+0.17%) is down -3.21% in 2021.

Financial Calendar

7:00 AM ET MBA Mortgage Applications

8:15 AM ET ADP Employment Report

10:30 AM ET EIA Petroleum Status Report