The Dow Market Happenings For Friday, May 6, 2022 – Amgen (AMGN) 234.35 Up +4.17% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Nike (NKE) 118.63 (-5.89%).

The Market

Premarket today, the Dow was indicated to open down -212 points.

Thursday the Dow closed down -1063.09 (-3.12%) at 32,997.97.

Year-to-date the Dow is down -9.19%.

All 30 Dow stocks were down Thursday.

The Dow stock winners Thursday were not to be found.

The Dow stock losers Thursday were led by Salesforce (CRM) 172.30 (-7.11%), Nike (NKE) 118.63 (-5.89%), Apple (AAPL) 156.77 (-5.57%), Home Depot (HD) 299.11 (-5.14%), Microsoft (MSFT) 277.35 (-4.36%) and Visa (V) 205.24 (-4.33%).

The 10 YR yield is currently at 3.059%.

U.S. stock futures turned positive and then negative again Friday after of the government’s strong April jobs report. The 10-year Treasury yield moved higher Friday, above Thursday’s trip above 3.1%, a high back to November 2018. Rising bond yields Thursday sparked a stock market plunge that wiped out the prior day’s strong Federal Reserve relief rally and then some.

The Labor Department on Friday morning reported a better-than-expected 428,000 nonfarm jobs were added to the U.S. economy in April. The unemployment rate last month held steady at 3.6%. A slight dip had been expected. Average hourly earnings in April rose a slightly less-than-expected 0.3% month over month and matched estimates with a 5.5% year over year gain. The report shows that jobs remain tight even as inflation remains high. Contributing to Thursday’s stock market sell-off was the government’s first-quarter report showing the steepest decline in worker productivity in 75 years and soaring labor costs.

U.S. oil prices rose roughly 1.5% on Friday, around $110 per barrel, shrugging off concerns about global economic growth as proposed European Union sanctions on Russian oil raised the prospect of tighter supply. West Texas Intermediate crude, the American benchmark, and the Brent crude global benchmark were both on track for second straight weekly gains.

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

The national average price of gasoline is up 3.2 cents at $4.279 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.

Cisco (CSCO) reports earnings on 5/18/2022 after the market close.

Today’s Featured Dow Stock

Amgen (AMGN)

Amgen (AMGN) 234.35 (-0.74%) is up +4.17% in 2022.

Financial Calendar

08:30 AM ET Average Hourly Earnings (MoM) (Apr)
08:30 AM ET Average Hourly Earnings (YoY) (YoY) (Apr)
08:30 AM ET Average Weekly Hours (Apr)
08:30 AM ET Government Payrolls (Apr)
08:30 AM ET Manufacturing Payrolls (Apr)
08:30 AM ET Nonfarm Payrolls (Apr)
08:30 AM ET Participation Rate (Apr)
08:30 AM ET Private Nonfarm Payrolls (Apr)
08:30 AM ET U6 Unemployment Rate (Apr)
08:30 AM ET Unemployment Rate (Apr)
13:00 PM ET U.S. Baker Hughes Oil Rig Count
13:00 PM ET U.S. Baker Hughes Total Rig Count
15:00 PM ET Consumer Credit (Mar)
15:20 PM ET FOMC Member Bostic Speaks
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
19:15 PM ET Fed Waller Speaks
19:15 PM ET FOMC Member Bullard Speaks
20:00 PM ET FOMC Member Daly Speaks

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