There are no Dow stocks hitting 52 week highs. Dow stock 52 week lows include Verizon (VZ).

The Market

Premarket today, the Dow was indicated to open up +324 points.

Wednesday the Dow closed down -0.53 (-0.00%) at 34,377.81.

Year-to-date the Dow is up +12.32%.

There were 16 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Salesforce (CRM) 284.41 (+1.94%), Nike (NKE) 156.30 (+1.92%) and Microsoft (MSFT) 296.31 (+1.17%).

The Dow stock losers Wednesday were led by American Express (AXP) 168.72 (-3.54%), JPMorgan (JPM) 161.00 (-2.64%) and Dow (DOW) 56.91 (-1.44%).

Unemployment insurance weekly claims in the week ending October 9, the advance figure for seasonally adjusted initial claims was 293,000, a decrease of 36,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week’s level was revised up by 3,000 from 326,000 to 329,000. The 4-week moving average was 334,250, a decrease of 10,500 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 750 from 344,000 to
344,750. The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending October 2, 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 October 2 was 2,593,000, a decrease of 134,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The previous week’s level was revised up 13,000 from 2,714,000 to 2,727,000. The 4-week moving average was 2,737,750, a decrease of 30,500 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020 when it was 2,071,750. The previous week’s average was revised up by 3,250 from 2,765,000 to 2,768,250. The total number of continued weeks claimed for benefits in all programs for the week ending September 25 was 3,649,013, a decrease of 523,426 from the previous week. There were 24,902,586 weekly claims filed for benefits in all programs in the comparable week in 2020.

Headline PPI and core PPI, which excludes food, energy and trade, rose 8.6% and 5.9% from a year ago, respectively, similar to August’s year-over-year increases. Thursday’s wholesale inflation came after Wednesday’s elevated consumer inflation data. With price pressures mounting, the Social Security cost-of-living adjustment next year will be 5.9%, the biggest boost in about 40 years.

The 10-year Treasury yield dipped to around 1.53%, one day after minutes from the Federal Reserve’s latest meeting revealed a “gradual tapering process” of bond purchases could begin by mid-November.
U.S. oil prices continued to power higher, jumping to more than $81 per barrel.

U.S. futures are higher, European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is up nine-tenths of a cent at $3.297 per gallon.

Earnings Reports

JPMorgan (JPM) reported earnings on 10/13/2021 before the open with $3.74, beating estimates calling for $2.996 per share.

UnitedHealth (UNH) reported earnings on 10/14/2021 before the open with $4.52, beating estimates calling for $4.414 per share.

Walgreens (WBA) reported earnings on 10/14/2021 before the open with $1.17, beating estimates calling for $1.028 per share.

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

Johnson & Johnson (JNJ) reports earnings on 10/19/2021 before the open.

Procter & Gamble (PG) reports earnings on 10/19/2021 before the open.

Travelers (TRV) reports earnings on 10/19/2021 before the open.

Verizon (VZ) reports earnings on 10/20/2021 before the open.

IBM (IBM) reports earnings on 10/20/2021 after the close.

Dow (DOW) reports earnings on 10/21/2021 before the open.

Intel (INTC) reports earnings on 10/21/2021 after the close.

Honeywell (HON) reports earnings on 10/22/2021 before the open.

American Express (AXP) reports earnings on 10/22/2021 before the open.

3M (MMM) reports earnings on 10/26/2021 before the open.

Microsoft (MSFT) reports earnings on 10/26/2021 after the close.

Visa (V) reports earnings on 10/26/2021 after the close.

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) 142.44 (+0.23%) is up +2.37% in 2021.

Financial Calendar

8:30 AM ET Jobless Claims

8:30 AM ET PPI-Final Demand

10:30 AM ET EIA Natural Gas Report

11:00 AM ET EIA Petroleum Status Report

11:00 AM ET 3-Month Bill Announcement

11:00 AM ET 6-Month Bill Announcement

11:00 AM ET 5-Yr TIPS Announcement

11:00 AM ET 20-Yr Bond Announcement

11:30 AM ET 4-Week Bill Auction

11:30 AM ET 8-Week Bill Auction

4:30 PM ET Fed Balance Sheet