DJIA Market Happenings For Wednesday, May 11, 2022 – Caterpillar (CAT) 202.99 Down -1.81% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Boeing (BA) 132.95 (-0.27%), Disney (DIS) 107.68 (+0.65%), Home Depot (HD) 291.16 (-1.98%), JPMorgan (JPM) 118.89 (-2.44%) and Nike (NKE) 109.49 (-1.55%).

The Market

Premarket today, the Dow was indicated to open down -128 points.

Tuesday the Dow closed down -84.96 (-0.26%) at 32,160.74.

Year-to-date the Dow is down -11.50%.

There were 14 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Intel (INTC) 44.01 (+2.18%), Salesforce (CRM) 167.15 (+2.17%) and Microsoft (MSFT) 269.50 (+1.86%).

The Dow stock losers Tuesday were led by IBM (IBM) 129.13 (-3.95%), JPMorgan (JPM) 118.89 (-2.44%) and 3M (MMM) 149.12 (-2.14%).

The 10 YR yield is currently at 3.037%.

The 10-year Treasury yield popped back above 3% on Wednesday after the government’s April consumer price index rose a stronger-than-expected 8.3% year over year. Removing volatile food and energy prices, so-called core CPI still rose a great-than-expected 6.2%.

A source of inflation in the economy has been oil prices and in turn record-high gasoline prices. West Texas Intermediate crude, the American benchmark, rose about 3% to $103 per barrel Wednesday after back-to-back sharp declines. The downturn in the two prior sessions was driven by supply concerns as the European Union works to gain support for a Russian oil embargo. A vote on the proposal, which needs unanimous approval, has been delayed as Hungary has dug in its heels in opposition.

So tomorrow we get the Producer Price Index numbers.

Futures initially were declining after release of the CPI, but now look to be rising a bit.

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

The national average price of gasoline is up 3.0 cents at $4.404 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

Caterpillar (CAT)

Caterpillar (CAT) 202.99 (-1.60%) is down -1.81% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA Mortgage Applications (WoW)
07:00 AM ET MBA Purchase Index
07:00 AM ET Mortgage Market Index
07:00 AM ET Mortgage Refinance Index
08:30 AM ET Core CPI (MoM) (Apr)
08:30 AM ET Core CPI (YoY) (Apr)
08:30 AM ET Core CPI Index (Apr)
08:30 AM ET CPI (YoY) (Apr)
08:30 AM ET CPI (MoM) (Apr)
08:30 AM ET CPI Index, n.s.a. (Apr)
08:30 AM ET CPI Index, s.a (Apr)
08:30 AM ET CPI, n.s.a (MoM) (Apr)
08:30 AM ET Real Earnings (MoM) (Apr)
10:30 AM ET Crude Oil Inventories
10:30 AM ET EIA Refinery Crude Runs (WoW)
10:30 AM ET Crude Oil Imports
10:30 AM ET Cushing Crude Oil Inventories
10:30 AM ET Distillate Fuel Production
10:30 AM ET EIA Weekly Distillates Stocks
10:30 AM ET Gasoline Production
10:30 AM ET Heating Oil Stockpiles
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW)
10:30 AM ET Gasoline Inventories
11:00 AM ET Cleveland CPI (MoM) (Apr)
12:00 PM ET FOMC Member Bostic Speaks
12:00 PM ET Thomson Reuters IPSOS PCSI (May)
13:01 PM ET 10-Year Note Auction
14:00 PM ET Federal Budget Balance (Apr)

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