Dow stocks hitting 52-week highs include Dow (DOW) 69.51 (+2.92%), Coca Cola (KO) 66.21 (+0.38%) and Walmart (WMT) 159.87 (+0.15%). Dow stock 52-week lows include Salesforce (CRM) 121.66 (-4.83%) and Disney (DIS) 121.66 (-2.34%).

The Market

Premarket today, the Dow was indicated to open down -140 points.

Thursday the Dow closed down -368.03 (-1.05%) at 34,792.76.

Year-to-date the Dow is down -4.25%.

There were 8 Dow stocks up Thursday.

The Dow stock winners Wednesday were led by Dow (DOW) 69.51 (+2.92%), IBM (IBM) 139.85 (+1.11%) and Verizon (VZ) 55.01 (+1.10%)

The Dow stock losers Wednesday were led by Salesforce (CRM) 177.23 (-4.83%), Chevron (CVX) 164.58 (-4.61%) and Disney (DIS) 1211.66 (-2.34%).

The 10 YR yield is currently at 2.931%.

Yesterday we had an afternoon market sell-off on hawkish comments from Federal Reserve Chairman Jerome Powell.

The benchmark 10-year Treasury yield on Friday neared 3% as the short end of the yield curve saw the 5-year top that level as Powell confirmed what many other Fed officials have said lately that interest rates may need to be increased at a stronger pace to fight inflation. During an International Monetary Fund panel discussion Thursday, the Fed chief said that “50 basis points will be on the table for the May meeting.” The central bank raised rates by 25 basis points at its March meeting, the first hike in more than three years. The market expects rate increases at each of the remaining six meetings in 2022.

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

The national average price of gasoline is unchanged at $4.120 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) reported earnings on 4/13/2022 before the market open with $2.63, missing estimates of $2.734 per share.

Goldman Sachs (GS) reported earnings on 4/14/2022 before the market open with $10.76, beating estimates of $8.89 per share.

UnitedHealth (UNH) reported earnings on 4/14/2022 before the market open with $5.49, beating estimates of $5.401 per share.

Johnson & Johnson (JNJ) reported earnings on 4/19/2022 before the market open with $2.67, beating estimates of $2.597 per share.

Travelers (TRV) reported earnings on 4/19/2022 before the market open with $4.22, beating estimates of $3.701 per share.

IBM (IBM) reported earnings on 4/19/2022 after the market close with $1.40, beating estimates of $1.344 per share.

Procter & Gamble (PG) reported earnings on 4/20/2022 before the market open with $1.33, beating estimates of $1.284 per share.

Dow (DOW) reports earnings on 4/21/2022 before the market open with $2.34, beating estimates of $2.018 per share.

American Express (AXP) reported earnings on 4/22/2022 before the market open with $2.73, beating estimates of $1.435 per share.

Verizon (VZ) reported earnings on 4/22/2022 before the market open with $1.35, inline with estimates of $1.347 per share.

Coca Cola (KO) reports earnings on 4/25/2022 before the market open.

3M (MMM) reports earnings on 4/26/2022 before the market open.

Microsoft (MSFT) reports earnings on 4/26/2022 after the market close.

Visa (V) reports earnings on 4/26/2022 after the market close.

Boeing (BA) reports earnings on 4/27/2022 before the market open.

Amgen (AMGN) reports earnings on 4/27/2022 after the market close.

Caterpillar (CAT) reports earnings on 4/28/2022 before the market open.

McDonald’s (MCD) reports earnings on 4/28/2022 before the market open.

Merck (MRK) reports earnings on 4/28/2022 before the market open.

Apple (AAPL) reports earnings on 4/28/2022 after the market close.

Intel (INTC) reports earnings on 4/28/2022 after the market close.

Chevron (CVX) reports earnings on 4/29/2022 before the market open.

Honeywell (HON) reports earnings on 4/29/2022 before the market open.

Disney (DIS) reports earnings on 5/11/2022 after the market close.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 176.26 (-0.82%) is up +12.68% in 2022.

Financial Calendar

09:45 AM ET Manufacturing PMI (Apr)
09:45 AM ET Markit Composite PMI (Apr)
09:45 AM ET Services PMI (Apr)
11:00 AM ET IMF Meetings
13:00 AM ET U.S. Baker Hughes Oil Rig Count
13:00 AM 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