Dow stocks hitting 52-week highs include Chevron (CVX). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +112 points.

Tuesday the Dow closed up +183.15 (+0.51%) at 36,252.02 (+0.51%).

Year-to-date the Dow is down -0.74%.

There were 19 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Boeing (BA) 216.02 (+3.21%), Chevron (CVX) 127.97 (+2.29%) and Salesforce (CRM)234.84 (+2.27%).

The Dow stock losers Tuesday were led by IBM (IBM) 132.87 (-1.60%), Procter & Gamble (PG) 158.66 (-1.16%) and Johnson & Johnson (JNJ) 171.25 (-1.06%).

Yesterday, the Dow Jones Industrial Average gained 0.5%, ending a four-session down streak.

The government’s December consumer price index on Wednesday showed an increase of 7% year over year, in-line with estimates and the hottest increase since 1982. Core CPI, which excludes food and energy, rose 5.5% year over year, slightly higher than expectations. Inflation has been eating into otherwise strong wage gains for workers. The 10-year Treasury yield on Wednesday dipped to near 1.72% after release of the data and following a spike this year to over 1.8% earlier this week.

Federal Reserve Chairman Jerome Powell declared on Tuesday the U.S. economy is both healthy enough and in need of tighter monetary policy to control inflation. That probably will mean interest rate hikes this year, tapering of monthly asset purchases and reducing the Fed’s balance sheet. Investors largely expect the Fed to start raising rates in March. Markets are pricing a nearly 79% chance for the first quarter-percentage-point increase to come in May and see about a 50% chance the Fed could enact four such hikes in 2022.

The White House is increasing federal support for Covid testing for schools in a bid to keep them open as the omicron variant rips across the U.S. The Biden administration announced Wednesday it’s making a dedicated stream of 5 million rapid tests and 5 million lab-based PCR tests available to schools starting this month. The effort is aimed at easing supply shortages and promoting safety in schools. That’s on top of more than $10 billion devoted to school-based tests authorized in the Covid relief law.

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

The national average price of gasoline is unchanged at $3.301 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 12/20/2021 after the market close with $0.83, beating estimates of $0.626 per share.

Walgreens (WBA) reported earnings on 1/6/2021 before the market open with $1.68, beating estimates of $1.354 per share.

JPMorgan (JPM) reports earnings on 1/14/2022 before the market open.

Goldman Sachs (GS) reports earnings on 1/18/2022 before the market open.

Procter & Gamble (PG) reports earnings on 1/19/2022 before the market open.

UnitedHealth (UNH) reports earnings on 1/19/2022 before the market open.

Travelers (TRV) reports earnings on 1/20/2022 before the market open.

Honeywell (HON) reports earnings on 1/21/2022 before the market open.

IBM (IBM) reports earnings on 1/24/2022 after the market close.

3M (MMM) reports earnings on 1/25/2022 before the market open.

American Express (AXP) reports earnings on 1/25/2022 before the market open.

Johnson & Johnson (JNJ) reports earnings on 1/25/2022 before the market open.

Verizon (VZ) reports earnings on 1/25/2022 before the market open.v

Microsoft (MSFT) reports earnings on 1/25/2022 after the market close.

Today’s Featured Dow Stock

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) 171.25 (-1.06%) is up +0.01% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA Mortgage Applications (WoW)
07:00 AM ET MBA Mortgage Applications (WoW)
07:00 AM ET MBA Purchase Index
07:00 AM ET Mortgage Market Index
07:00 AM ET Mortgage Refinance Index
08:30 AM ET Core CPI (MoM) (Dec)
08:30 AM ET Core CPI (YoY) (Dec)
08:30 AM ET Core CPI Index (Dec)
08:30 AM ET CPI (YoY) (Dec)
08:30 AM ET CPI (MoM) (Dec)
08:30 AM ET CPI Index, n.s.a. (Dec)
08:30 AM ET CPI Index, s.a (Dec)
08:30 AM ET CPI, n.s.a (MoM) (Dec)
08:30 AM ET Real Earnings (MoM) (Dec)
10:30 AM ET Crude Oil Inventories
10:30 AM ET EIA Refinery Crude Runs (WoW)
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 (WoW)
10:30 AM ET Gasoline Inventories
11:00 AM ET Cleveland CPI (MoM) (Dec)
11:00 AM ET Thomson Reuters IPSOS PCSI (Jan)
12:00 PM ET WASDE Report
13:00 PM ET 10-Year Note Auction
14:00 PM ET Beige Book
14:00 PM ET Federal Budget Balance (Dec)