There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -236 points.

Wednesday the Dow closed up +932.27 (+2.81%) at 34,061.06.

Year-to-date the Dow is down -6.27%.

All 30 Dow stocks were up Wednesday.

The Dow stock winners Wednesday were led by Honeywell (HON) 205.85 (+4.47%), Caterpillar (CAT) 222.59, 3M (MMM) 154.23 (+4.15%), Apple (AAPL) +4.10%), Salesforce (CRM) 185.48 (+3.99%) and IBM (IBM) 137.40 (+3.68%).

The Dow stock losers Wednesday were not to be found.

The 10 YR yield is currently at 3.009%.

The 10-year Treasury yield on Thursday ticked higher, trading around 3.000%. The benchmark yield crossed 3% on Monday, its highest level since late 2018. It also traded above that mark again on Wednesday morning ahead of the conclusion of the Fed’s two-day May meeting.

OPEC+ on Thursday rubber stamped another modest production increase for June after the E.U. outlines a Russian oil ban proposal. However, oil prices still rose more than 1% after the announcement.

Following March’s 25 basis point rate rise, the first increase in more than three years, the Fed doubled that Wednesday afternoon to fight what Powell later called at his post-meeting news conference “much too high” inflation. The 50 basis point increase was the Fed’s biggest rate hike since 2000. While ruling out a larger 75 basis point rate rise down the road, Powell said 50 basis point increases were under consideration at the next two meetings in June and July. Hikes are also seen in September, November and December. Along with the move higher in rates, central bankers on Wednesday indicated they’ll begin reducing asset holdings on the Fed’s $9 trillion balance sheet.

The government on Thursday reported first-time jobless claims rose more than expected to 200,000. Friday brings the government’s April employment report, and traders will see whether Powell’s assertion that “the labor market has continued to strengthen and is extremely tight” holds up.

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

The national average price of gasoline is up 2.1 cents at $4.247 per gallon.

Earnings Reports

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

Home Depot (HD) reports earnings on 5/17/2022 before the market open.

Walmart (WMT) reports earnings on 5/17/2022 before the market open.

Today’s Featured Dow Stock

Apple (AAPL)

Apple (AAPL) 166.02 (+4.10%) is down -6.50% in 2022.

Financial Calendar

07:30 AM ET Challenger Job Cuts (Apr)
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) (Q1)
08:30 AM ET Unit Labor Costs (QoQ) (Q1)
10:30 AM ET Natural Gas Storage
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction