DJIA Market Happenings For Thursday, March 3, 2022 – 3M (MMM) 147.22 Down -17.12% YTD


Dow stocks hitting 52-week highs include Chevron (CVX) 154.14 and Travelers (TRV) 173.68. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +207 points.

Wednesday the Dow closed up +596.40 (+1.79%) at 33,891.35. It didn’t quite get back the -597.65 (-1.76%) it lost Tuesday though.

Year-to-date the Dow is down -6.73%.

There were 29 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by Caterpillar (CAT) 192.61 (+5.35%), Intel (INTC) 48.87 (+4.38%), Dow (DOW) 59.20 (+3.62%), Travelers (TRV) 173.68 (+3.49%) and Chevron (CVX) 154.14 (+2.95%).

The single Dow stock loser Wednesday was Visa (V) 208.48 (-0.23%).

The 10-year Treasury yield is currently at 1.889%.

West Texas Intermediate crude, the American oil benchmark, rose again Thursday, hitting highs back to September 2008, above $116 per barrel before backing off those levels.

Fed Chairman Jerome Powell is back on Capitol Hill on Thursday to deliver his semiannual economic assessment to a Senate panel. He told a House committee Wednesday to expect rate increases ahead but noted the implications for the U.S. economy from the Ukraine war are “highly uncertain.”

The Labor Department on Thursday morning reported fewer-than-expected initial jobless claims of 215,000 for the week ended Feb. 26. The data comes a day before the government’s monthly employment report and a day after ADP’s stronger-than-expected data on hiring at U.S. companies in February.

As Russia’s invasion of Ukraine entered its second week, the United Nations said Thursday that more than 1 million people have fled Ukraine, in the swiftest refugee exodus this century. Russia has said Kyiv’s residents will be allowed to evacuate the city in the direction of Vasylkiv, to the southwest of the city.

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

The national average price of gasoline is up 7.2 cents at $3.728 per gallon.

Earnings Reports

There are no Dow Stocks set to report earnings in the near term.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 147.22 (+1.71%) is down -17.12% in 2022.

Financial Calendar

07:30 AM ET Challenger Job Cuts (YoY)
07:30 AM ET Challenger Job Cuts (Feb)
08:30 AM ET Continuing Jobless Claims
08:30 AM ET Initial Jobless Claims
08:30 AM ET Jobless Claims 4-Week Avg.
08:30 AM ET Nonfarm Productivity (QoQ) (Q4)
08:30 AM ET Unit Labor Costs (QoQ) (Q4)
10:30 AM ET Natural Gas Storage
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction
18:00 PM ET FOMC Member Williams Speaks

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