DJIA Market Happenings For Wednesday, December 8, 2021 – Microsoft (MSFT) Up +50.58% YTD

Dow stocks hitting 52-week highs include Apple (AAPL), Chevron (CVX), McDonald’s (MCD) and Procter & Gamble (PG). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +25 points.

Tuesday the Dow closed up +492.40 (+1.40%) at 35,719.43.

Year-to-date the Dow is up +16.71%.

There were 24 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by American Express (AXP) 166.95 (+3.90%), Apple (AAPL) 171.18 (+3.54%) and Salesforce (CRM) 266.99 (+3.18%).

The Dow stock losers Tuesday were led by Merck (MRK) 72.28 (-1.55%), Verizon (VZ) 50.79 (-0.55%) and 3M (MMM) 176.55 (-0.37%).

U.S. stock futures reversed higher and pointed to gains for a third day on Wednesday after Pfizer said three doses of its vaccine are effective at neutralizing the omicron variant.

Pfizer said Wednesday a third Covid vaccine shot produces antibody levels comparable with those induced by the initial two-dose series against the original strain, which are associated with a high level of protection. “Ensuring as many people as possible are fully vaccinated with the first two dose series and a booster remains the best course of action to prevent the spread of COVID-19,” Pfizer CEO Albert Bourla said in a joint statement with BioNTech.

The House took a first step toward preventing a possible default on U.S. debt. The chamber on Tuesday passed a bill that would allow the Senate to raise the country’s borrowing limit with a simple majority vote. Lawmakers attached the provision to legislation that would prevent automatic Medicare cuts set to take place at the end of the year. The measure heads to the Senate where it will need 10 Republican votes to pass and go to President Joe Biden’s desk. Treasury Secretary Janet Yellen has estimated the U.S. will hit its debt ceiling on Dec. 15.

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

The national average price of gasoline is down six-tenths of a cent at $3.343 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 12/20/2021 after the market close.

Today’s Featured Dow Stock

Microsoft (MSFT)

Microsoft (MSFT) 334.92 (+2.68%) is up +50.58% in 2021.

Financial Calendar

06:00 AM ET NFIB Small Business Optimism
07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA Mortgage Applications
07:00 AM ET MBA Purchase Index
07:00 AM ET Mortgage Market Index
07:00 AM ET Mortgage Refinance Index
10:00 AM ET JOLTs Job Openings
10:30 AM ET Crude Oil Inventories
10:30 AM ET EIA Refinery Crude Runs
10:30 AM ET Crude Oil Imports
10:30 AM ET Cushing Crude Oil Inventories
10:30 AM ET Distillate Fuel Production
10:30 AM ET EIA Weekly Distillates Stocks
10:30 AM ET Gasoline Production
10:30 AM ET Heating Oil Stockpiles
10:30 AM ET EIA Weekly Refinery Utilization Rates
10:30 AM ET Gasoline Inventories
11:00 AM ET Thomson Reuters IPSOS PCSI

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