The Dow Market Happenings For Wednesday, May 25, 2022 – Honeywell (HON) 189.96 Down -8.90% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Salesforce (CRM) 156.93 (-2.11%) and Nike (NKE) 107.29 (-1.23%).

The Market

Premarket today, the Dow was indicated to open down -132 points.

Tuesday the Dow closed up +48.38 (+0.15%) at 31,928.62.

Year-to-date the Dow is down -12.14%.

There were 18 Dow stocks up Tuesday.

The Dow stock winners Tuesday were led by McDonald’s (MCD) 244.52 (+2.74%), Verizon (VZ) 50.68 (+2.03%) and IBM (IBM) 133.80 (+2.01%).

The Dow stock losers Tuesday were Disney (DIS) 101.59 (-4.01%), Boeing (BA) 119.40 (-3.76%) and Visa (V) 202.63 (-2.38%).

The 10 YR yield is currently at 2.753% and the VIX closed Monday at 29.42 (+3.41%).

Bond prices of late have been the recipient of the sell-off in stocks. The 10-year Treasury yield, which moves inversely to price, dipped to around 2.7% on Wednesday, ahead of the afternoon release of the minutes from the Federal Reserve’s May policy meeting. Investors hope to glean more insight into the central bank’s thinking on inflation and the economy. Earlier this month, the Fed raised interest rates by 50 basis points, double that of its hike in March.

The 10-year yield has recently backed off late 2018 highs above 3%, but is still more than double the December low, taking mortgage rates higher and cooling demand for home loans. Applications to purchase a home were flat week to week and down 16% from a year ago. Mortgage demand from homebuyers is now close to the lows last seen in spring 2020, at the start of the Covid pandemic shortly before frenzied demand pushed prices higher at an astounding rate over the past two years. Last week, applications to refinance a home loan dropped 2% and were 75% lower than the same week one year ago.

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

The national average price of gasoline is up one-tenth of a cent at $4.599 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) reported earnings on 5/18/2022 after the market close with $0.87, beating estimates of $0.77 per share.

Salesforce (CRM) reports earnings on 5/31/2022 after the market close.

Today’s Featured Dow Stock

Honeywell (HON)

Honeywell (HON) 189.96 (+0.20%) is down -8.90% 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 Durable Goods Orders (MoM) (Apr)
08:30 AM ET Durable Goods Orders (MoM) (Apr)
08:30 AM ET Durables Excluding Defense (MoM) (Apr)
08:30 AM ET Goods Orders Non Defense Ex Air (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
12:15 PM ET FOMC Member Brainard Speaks
13:00 PM ET 5-Year Note Auction
14:00 PM ET FOMC Meeting Minutes

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