The Dow Market Happenings For Tuesday, June 7, 2022 – Merck (MRK) 89.84 (-0.08%) Up +17.22% YTD

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 -305 points.

Monday the Dow closed up +16.08 (+0.05%) at 32,915.78.

Year-to-date the Dow is down -9.42%.

There were 14 Dow stocks up Monday.

The Dow stock winners Monday were led by Travelers (TRV) 176.98 (+1.60%), IBM (IBM) 142.88 (+1.20%) and UnitedHealth (UNH) 490.18 (+0.94%).

The Dow stock losers Monday were led by Amgen (AMGN) 245.44 (-1.21%), Salesforce (CRM) 182.87 (-1.10%) and Disney (DIS) 107.83 (-0.77%).

The 10 YR yield is currently at 3.025% and the VIX closed Monday at 25.07 (+1.13%).

The Dow Jones Industrial Average gave up nearly all of Monday’s more than 300-point gain by the close as the benchmark 10-year Treasury yield topped 3%, hitting its highest level in nearly a month.

Ahead of Friday’s read on May consumer prices, inflation takes center stage on Capitol Hill this week as Treasury Secretary Janet Yellen testifies before a Senate panel Tuesday and a House panel Wednesday. Yellen, a former Federal Reserve chair, faces tough questions about how the Biden administration has handled the economy after she was wrong about inflation being transitory.

Senators Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., on Tuesday unveiled a bipartisan bill to create a regulatory framework around crypto. The Lummis-Gillibrand bill, the product of months of Capitol Hill collaboration, amounts to classifying the vast majority of digital assets as commodities. The Responsible Financial Innovation Act would empower the Commodity Futures Trading Commission to regulate most existing digital assets. Both Lummis and Gillibrand want to work to develop their respective states into blockchain and crypto havens.

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

The national average price of gasoline is up 5.4 cents at $4.919 per gallon.

Earnings Reports

There are no Dow 30 stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Merck (MRK)

Merck (MRK) 89.84 (-0.08%) is up +17.22% in 2022.

Financial Calendar

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