Dow stocks hitting 52-week highs include Procter & Gamble (PG). There are no Dow stock 52-week lows.
Premarket today, the Dow was indicated to open up +244 points.
Friday the Dow closed down -59.71 (-0.17%) at 34,580.08.
Year-to-date the Dow is up +12.98%.
There were 15 Dow stocks up Friday.
The Dow stock winners Friday were led by Walgreens (WBA) 46.53 (+4.28%), Procter & Gamble (PG) 149.88 (+1.78%) and IBM (IBM) 118.84 (+1.66%).
The Dow stock losers Friday were led by Microsoft (MSFT) 323.01 (-1.97%), Boeing (BA) 198.49 (-1.92%) and JPMorgan (JPM) 158.29 (-1.81%).
The Dow is set to rebound after its worst weekly losing streak of the year.
The 10-year Treasury yield ticked higher early Monday but remained below 1.4%.
The Federal Reserve is likely to decide to double the pace of its taper to $30 billion a month at its upcoming December meeting, recent comments from Fed officials suggest. Initial discussions could also begin about when to raise interest rates and by how much next year. Fed Chair Jerome Powell, in testimony last week, supported the idea of a faster taper and made a dramatic shift when he said the major economic concern regarding omicron was inflation, because if it caused another Covid spike it might keep people out of work and worsen supply constraints. The central bank chief did nothing in his testimony to dissuade the market that the current pricing in of two rate hike rates next year was wrong. The Fed’s final scheduled policy meeting of the year is next week.
Early indications suggest the highly mutated omicron variant may be less dangerous than the highly contagious delta strain, according to U.S. health officials. While delta remains the dominant form of the coronavirus in the U.S., omicron has been detected in about one-third of U.S. states less than two weeks after South Africa reported the new variant to the World Health Organization. American officials continued to urged people to get vaccinated and to receive booster shots, as well as take precautions such as wearing masks indoors in public. They said anything that helps protect against delta will also help protect against other variants.
U.S. futures are higher, European stocks are higher and Asian markets ended mostly lower.
The national average price of gasoline is down one-tenth of a cent at $3.358 per gallon.
There are no Dow stocks set to report earnings in the near term.
Today’s Featured Dow Stock
Dow (DOW) 53.07 (-0.21%) is down -4.38% in 2021.
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