There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Apple (AAPL) 130.06 (-3.97%), American Express (AXP) 137.50 (-5.96%), Home Depot (HD) 273.46 (-2.24%), Intel (INTC) 37.34 (-3.39%), JPMorgan (JPM) 113.43 (-1.72%), 3M (MMM) 130.94 (-2.52%) and Walgreens (WBA) 39.67 (-2.60%).

The Market

Premarket today, the Dow was indicated to open up +22 points.

Thursday the Dow closed down -741.46 (-2.42%) at 29,927.07..

Year-to-date the Dow is down -17.64%.

There were 4 Dow stocks up Thursday.

The Dow stock winners Thursday were led by Walmart (WMT) 120.62 (+1.04%), Procter & Gamble (PG) 133.32 (+0.61%) and Merck (MRK) 84.89 (+0.31%).

The Dow stock losers Thursday were led by American Express (AXP) 137.50 (-5.96%), Nike (NKE) 107.12 (-5.57%) and Caterpillar (CAT) 194.79 (-5.44%).

The 10 YR yield is currently at 3.240% and the VIX is closed at 32.71 (-0.73%).

Heading into today’s open, the Dow is down 4.7% for the week, on track for its worst weekly loss since October 2020.

Bond yield declines provided support to stocks in Friday’s premarket, with the 10-year Treasury yield dropping to 3.240%.

One day after the latest Philadelphia Fed manufacturing index registered an unexpectedly negative reading, another major indicator of factory activity is out at 9:15 a.m. ET. Industrial production figures for May are expected to rise 0.4% following April’s 1.1% increase. Capacity utilization, a measure of how fully firms are using their resources, is expected to rise slightly to 79.2%. Manufacturing, which accounts for 12% of the economy, faces challenges from supply chain bottlenecks due to Russia’s invasion of Ukraine and China’s zero-tolerance Covid policy that’s resulted in rolling virus mitigation measures and lockdowns in that country’s biggest cities.

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

The national average price of gasoline is down nine-tenths of a cent at $5.000 per gallon. I paid $5.20 a gallon yesterday at Costco in Gig Harbor, WA.

Earnings Reports

Nike (NKE) reports earnings on 6/27/22 after the market close.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 48.84 (-0.63%) is down -6.00% in 2022.

Financial Calendar

08:45 AM ET Fed Chair Powell Speaks
09:15 AM ET Capacity Utilization Rate (May)
09:15 AM ET Industrial Production (YoY) (May)
09:15 AM ET Industrial Production (MoM) (May)
09:15 AM ET Manufacturing Production (MoM) (May)
10:00 AM ET US Leading Index (MoM) (May)
13:00 PM ET U.S. Baker Hughes Oil Rig Count
13:00 PM ET U.S. Baker Hughes Total Rig Count
15:30 PM ET CFTC Aluminium speculative net positions
15:30 PM ET CFTC Copper speculative net positions
15:30 PM ET CFTC Corn speculative net positions
15:30 PM ET CFTC Crude Oil speculative net positions
15:30 PM ET CFTC Gold speculative net positions
15:30 PM ET CFTC Nasdaq 100 speculative net positions
15:30 PM ET CFTC Natural Gas speculative net positions
15:30 PM ET CFTC S&P 500 speculative net positions
15:30 PM ET CFTC Silver speculative net positions
15:30 PM ET CFTC Soybeans speculative net positions
15:30 PM ET CFTC Wheat speculative net positions