The Dow Market Happenings For Friday, April 1, 2022 – Goldman Sachs (GS) 330.10 Down -13.71% YTD

Dow stocks hitting 52-week highs include Johnson & Johnson (JNJ) 177.23 and UnitedHealth (UNH) 509.97. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +139 points.

Thursday the Dow closed down -550.46 (-1.56%) at 34,678.35.

Year-to-date the Dow is down -4.57%.

All 30 Dow stocks were down Thursday.

The Dow stock winners Thursday were not to be found. Some are pointing to end of quarter portfolio rebalancing for this downturn.

The Dow stock losers Thursday were led by Walgreens (WBA) 44.77 (-5.67%), Intel (INTC) 49.56 (-3.64%), JPMorgan (JPM) 136.32 (-3.00%), Home Depot (HD) 299.33 (-2.96%), Nike (NKE) 134.56 (-2.87%) and Disney (DIS)137.16 (-2.70%).

The 10 YR yield is currently at 2.448%.

For Q1 2022, the Dow closed down 4.57%, ending its worst quarter since the first three months of 2020, which included the Covid pandemic lows in late March of that year.

Treasury yields jumped on Friday’s jobs report, one day after the 2-year yield briefly rose above the 10-year yield for the first time since 2019, an inversion that often happens before economic recessions. That spread was on either side of inversion Friday morning.

The U.S. economy added slightly fewer jobs than expected in March. Nonfarm payrolls expanded by 431,000 for the month, while the unemployment rate fell 3.6%. Economists surveyed by Dow Jones had been looking for 490,000 on payrolls and 3.7% for the jobless level. Average hourly earnings, a closely watched inflation metric, increased nearly 5.6% year-over-year in March, just above estimates. Jobs growth in February was revised up 72,000 to 750,000. January was revised up 23,000 to 504,000.

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 $4.215 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) reported earnings on 3/31/2022 before the market open with $1.59, beating estimates of $1.389 per share.
JPMorgan (JPM) reports earnings on 4/13/2022 before the market open.

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) 330.10 (-1.64%) is down -13.71% in 2022.

Financial Calendar

08:30 AM ET Average Hourly Earnings (MoM) (Mar)
08:30 AM ET Average Hourly Earnings (YoY) (YoY) (Mar)
08:30 AM ET Average Weekly Hours (Mar)
08:30 AM ET Government Payrolls (Mar)
08:30 AM ET Manufacturing Payrolls (Mar)
08:30 AM ET Nonfarm Payrolls (Mar)
08:30 AM ET Participation Rate (Mar)
08:30 AM ET Private Nonfarm Payrolls (Mar)
08:30 AM ET U6 Unemployment Rate (Mar)
08:30 AM ET Unemployment Rate (Mar)
09:45 AM ET Manufacturing PMI (Mar)
10:00 AM ET Construction Spending (MoM) (Feb)
10:00 AM ET ISM Manufacturing Employment (Mar)
10:00 AM ET ISM Manufacturing New Orders Index (Mar)
10:00 AM ET ISM Manufacturing PMI (Mar)
10:00 AM ET ISM Manufacturing Prices (Mar)
13:00 PM ET U.S. Baker Hughes Oil Rig Count
13:00 PM ET U.S. Baker Hughes Total Rig Count
15:30 PM ET CFTC Aluminium speculative net positions
15:30 PM ET CFTC Copper speculative net positions
15:30 PM ET CFTC Corn speculative net positions
15:30 PM ET CFTC Crude Oil speculative net positions
15:30 PM ET CFTC Gold speculative net positions
15:30 PM ET CFTC Nasdaq 100 speculative net positions
15:30 PM ET CFTC Natural Gas speculative net positions
15:30 PM ET CFTC S&P 500 speculative net positions
15:30 PM ET CFTC Silver speculative net positions
15:30 PM ET CFTC Soybeans speculative net positions
15:30 PM ET CFTC Wheat speculative net positions

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