Dow stocks hitting 52-week highs include Chevron (CVX) 174.03 (+0.59%) and Merck (MRK) 93.00 (+0.74%). Dow stock 52-week lows include Walmart (WMT) 131.35 (-11.38%).

The Market

Premarket today, the Dow was indicated to open down -284 points.

Tuesday the Dow closed up +431.17 (+1.34%) at 32,654.59.

Year-to-date the Dow is down -10.14%.

There were 24 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by Boeing (BA) 132.05 (+6.45%), American Express (AXP) 161.85 (+3.46%) and JPMorgan (JPM) 122.18 (+3.31%).

The Dow stock losers Tuesday were led by Walmart (WMT) 131.35 (-11.38%), McDonald’s (MCD) 241.63 (-0.99%) and Procter & Gamble (PG) 154.68 (-0.28%)

The 10 YR yield is currently at 3.002%.

Walmart (WMT) is down again today after losing 11% yesterday on an earnings miss.

The government’s April housing starts and building permits report showed a decline in building activity. Housing starts last month came in at a seasonally adjusted annual rate of 1.72 million. That was below estimates. Building permits in April matched expectations of a 1.82 million annual rate.

Weekly mortgage demand from homebuyers tumbles 12%, as higher rates took their toll. It was the first weekly drop in about a month. Refinance applications also continued their slide, down 10% for the week.

The 10-year Treasury yield rose Wednesday, right around 3%. The continued strength in the benchmark yield can be attributed to comments from Federal Reserve Chairman Jerome Powell. In a interview Tuesday, Powell said the central bank won’t hesitate to keep hiking interest rates until inflation comes down.

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

The national average price of gasoline is up 4.4 cents at $4.567 per gallon.

Earnings Reports

Disney (DIS) reported earnings on 5/11/2022 after the market close with $1.08, missing estimates of $1.196 per share.

Home Depot (HD) reported earnings on 5/17/2022 before the market open with $4.09, beating estimates of $3.659 per share.

Walmart (WMT) reported earnings on 5/17/2022 before the market open with $1.30, missing estimates of $1.462 per share.

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

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 174.03 (+0.59%) is up +48.30% 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 Building Permits (Apr)
08:30 AM ET Building Permits (MoM) (Apr)
08:30 AM ET Housing Starts (Apr)
08:30 AM ET Housing Starts (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
11:30 AM ET 52-Week Bill Auction
13:00 PM ET 20-Year Bond Auction