There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Disney (DIS) 99.40 (-3.78%), Goldman Sachs (GS) 287.02 (-5.65%), Intel (INTC) 39.18 (-2.07%) and 3M (MMM) 137.65 (-4.53%).

The Market

Premarket today, the Dow was indicated to open down -613 points.

Friday the Dow closed down -880.00 (-2.73%) at 31,392.79.

Year-to-date the Dow is down -13.61%.

There was 1 Dow stock up Friday.

The Dow stock winner Friday was Walmart (WMT) 121.70 (+0.56%).

The Dow stock losers Friday were led by Dow (DOW) 61.87 (-6.06%), Goldman Sachs (GS) 287.02 (-5.65%), Boeing (BA) 127.00 (-5.03%), Salesforce (CRM) 178.45 (-4.63%) and JPMorgan (JPM) 119.55 (-4.60%).

The 10 YR yield is currently at 3.287% and the VIX is at 32.67 (+17.73%).

This looks like a flushout. Bitcoin is down -15,000 to near 23,000. I’ve been hearing predictions of a $20,000 bottom. Or maybe the markets fall like a rock from here.

The Fed is set to hold its June meeting on Tuesday and Wednesday, with a 0.5% rate increase expected. Anything more than that would be a surprise, but there has been a belief in the markets that central bankers are going to have to get even more aggressive to quell inflation. The Fed is in a tough spot, trying to cool things off with tighter monetary policy while trying not to tip the economy into a recession. Ahead of the Fed’s policy decision, Wall Street will look to Tuesday’s producer price index release and Wednesday’s retail sales data to put last week’s hot consumer inflation report in context.

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

The national average price of gasoline is up four-tenths of a cent at $5.014 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Procter & Gamble (PG)

Travelers (TRV) 169.30 (-1.30%) is up +8.23% in 2022.

Financial Calendar

11:30 AM ET 3-Month Bill Auction
11:30 AM ET 6-Month Bill Auction
14:00 PM ET FOMC Member Brainard Speaks