The Dow Market Happenings For Tuesday, March 22, 2022 – American Express (AXP) 189.09 Up +15.58% YTD

Dow stocks hitting 52-week highs include Travelers (TRV) 182.54 (+1.24%) and UnitedHealth (UNH) 507.66 (+0.30%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +157 points.

Monday the Dow closed down -201.94 (-0.58%) at 34,552.99.

Year-to-date the Dow is down -4.91%.

There were 14 Dow stocks up Monday.

The Dow stock winners Monday were led by Chevron (CVX) 164.64 (+1.80%), Dow (DOW) 63.34 (+1.52%) and Caterpillar (CAT) 223.71 (+1.27%).

The Dow stock losers Monday were by Boeing (BA) 185.90 (-3.59%), Home Depot (HD) 329.37 (-3.34%) and Salesforce (CRM) 213.72 (-2.32%).

The 10 YR yield is currently at 2.369% (Highest since May 2019).

U.S. President Joe Biden, who’s heading to Europe later in the week to meet with allies, said Monday that Russian President Vladimir Putin’s “back is against the wall” and could resort to using chemical weapons. The White House also warned of potential cyberattacks, urging American companies to “immediately” harden their defenses.

Nike (NKE) rose roughly 5% in Tuesday’s premarket, the morning after reporting fiscal third-quarter earnings and revenue that beat estimates. Nike cited robust demand in North America but opted not to provide forward guidance against a backdrop of uncertainties around inflation, Russia’s Ukraine war and clogged supply chains.

Boeing (BA) CEO Dave Calhoun told employees the aircraft maker offered the full support of its technical experts in the investigation of the crash of a China Eastern Airlines 737-800 with 132 people on board. The jet crashed in mountains in southern China early Monday. Boeing advanced modestly in premarket trading, one day after dropping 3.6%.

Disney (DIS), down more than 6% in a month, was steady in the premarket ahead of a week of planned employee walkouts, starting Tuesday, in protest of CEO Bob Chapek’s delayed denunciation of Florida’s so-called Don’t Say Gay bill. Chapek said Monday that the company made a mistake by previously remaining silent on the legislation in the state home to Disney World.

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

The national average price of gasoline is down one cent at $4.242 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/21/2022 after the market close with $0.87, beating estimates of $0.732 per share.
Walgreens (WBA) reports earnings on 3/31/2022 before the market open.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) 189.09 (-0.85%) is up +15.58% in 2022.

Financial Calendar

08:55 AM ET Redbook (YoY)
10:00 AM ET Richmond Manufacturing Index (Mar)
10:00 AM ET Richmond Manufacturing Shipments (Mar)
10:00 AM ET Richmond Services Index (Mar)
10:35 AM ET FOMC Member Williams Speaks
11:30 AM ET 52-Week Bill Auction
14:00 PM ET FOMC Member Daly Speaks
16:30 PM ET API Weekly Crude Oil Stock
17:00 PM ET FOMC Member Mester Speaks

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