There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Disney (DIS) 93.50 (+0.23%), Dow (DOW) 52.34 (-4.75%), Home Depot (HD) 268.98 (-0.08%) and 3M (MMM) 130.40 (+0.30%).

The Market

Premarket today, the Dow was indicated to open up +94 points.

Wednesday the Dow closed down -47.12 (-0.15%) at 30,483.13.

Year-to-date the Dow is down -15.98%.

There were 14 Dow stocks up Tuesday.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) 489.68 (+1.95%), Johnson & Johnson (JNJ) 175.74 (+1.58%) and Procter & Gamble (PG) 138.50 (+1.56%).

The Dow stock losers Wednesday were led by Dow (DOW) 52.34 (-4.75%), Caterpillar (CAT) 187.83 (-4.35%) and Chevron (CVX) 147.87 (-4.35%).

The 10 YR yield is currently at 3.121% and the VIX is at 29.13 (+0.62%).

Fed Chairman Jerome Powell goes back to Capitol Hill on Thursday for Day Two of his semiannual testimony on monetary policy. He appears before the House Financial Services Committee, one day after telling the Senate Banking Committee on Wednesday that the central bank has the “resolve” to tame inflation that’s surged to 40-year highs. Powell also told senators Wednesday that he believes the economy is strong now but acknowledged a recession could happen.

Major U.S. oil refiners will meet with U.S. Energy Secretary Jennifer Granholm and other Biden administration officials Thursday about how to lower record-high gas prices squeezing American consumers. The emergency meeting comes one day after President Joe Biden called for a federal gas tax holiday that seemed dead on arrival on Capitol Hill. The gathering also follows weeks of Biden bashing Big Oil for reaping huge profits from a fuel supply crunch exacerbated by Russia’s invasion of Ukraine.

Unemployment insurance weekly claims in the week ending June 18, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 2,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 229,000 to 231,000. The 4-week moving average was 223,500, an increase of 4,500 from the previous week’s revised average. The previous week’s average was revised up by 500 from 218,500 to 219,000. The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending June 11, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending June 11 was 1,315,000, an increase of 5,000 from the previous week’s revised level. The previous week’s level was revised down by 2,000 from 1,312,000 to 1,310,000. The 4-week moving average was 1,310,000, a decrease of 7,000 from the previous week’s revised average. This is the lowest level for this average since January 3, 1970 when it was 1,280,250. The previous week’s average was revised down by 500 from 1,317,500 to 1,317,000. The total number of continued weeks claimed for benefits in all programs for the week ending June 4 was 1,296,581, an increase of 14,479 from the previous week. There were 14,839,818 weekly claims filed for benefits in all programs in the comparable week in 2021.

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

The national average price of gasoline is down 1.5 cents at $4.940 per gallon.

Earnings Reports

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

Walgreens (WBA) reports earnings on 6/30/22 before the market open.

Today’s Featured Dow Stock

Apple (AAPL)

Apple (AAPL) 135.35 (-0.38%) is down -23.64% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims
08:30 AM ET Current Account (Q1)
08:30 AM ET Initial Jobless Claims
08:30 AM ET Jobless Claims 4-Week Avg
09:45 AM ET Manufacturing PMI (Jun)
09:45 AM ET Markit Composite PMI (Jun)
09:45 AM ET Services PMI (Jun)
10:00 AM ET Fed Chair Powell Testifies
10:30 AM ET Natural Gas Storage
11:00 AM ET Crude Oil Inventories
11:00 AM ET EIA Refinery Crude Runs (WoW)
11:00 AM ET Crude Oil Imports
11:00 AM ET Cushing Crude Oil Inventories
11:00 AM ET Distillate Fuel Production
11:00 AM ET EIA Weekly Distillates Stocks
11:00 AM ET Gasoline Production
11:00 AM ET Heating Oil Stockpiles
11:00 AM ET EIA Weekly Refinery Utilization Rates (WoW)
11:00 AM ET Gasoline Inventories
11:00 AM ET KC Fed Composite Index (Jun)
11:00 AM ET KC Fed Manufacturing Index (Jun)
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction
13:00 PM ET 5-Year TIPS Auction
16:30 PM ET Fed Bank Stress Test Results