The Dow Market Happenings For Tuesday, July 5, 2022 – Chevron (CVX) 146.51 Up +24.85% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Caterpillar (CAT) 178.29 (-0.26%), Dow (DOW) 51.69 (+0.16%), Intel (INTC) 36.34 (-2.86%), 3M (MMM) 128.49 (-0.71%), Nike (NKE) 101.18 (-1.00%) and Walgreens (WBA) 38.56 (+1.74%).

The Market

Premarket today, the Dow was indicated to open down -395 points.

Friday the Dow closed up +321.83 (+1.05%) at 31,097.26.

Year-to-date the Dow is down -14.42%.

There were 24 Dow stocks up Friday.

The Dow stock winners Friday were led by McDonald’s (MCD) 252.96 (+2.46%), Coca Cola (KO) 64.38 (+2.34%) and Boeing (BA) 139.84 (+2.28%).

The Dow stock losers Friday were led by Intel (INTC) 36.34 (-2.86%), Nike (NKE) 101.18 (-1.00%) and 3M (MMM) 128.49 (-0.71%).

The 10 YR yield is currently at 2.901% and the VIX is at 26.70 (-7.00%).

U.S. Treasury Secretary Janet Yellen on Tuesday held virtual talks with Chinese Vice Premier Liu He to address macroeconomic conditions, including U.S. sanctions and tariffs on China. President Joe Biden has suggested the U.S. could drop some Trump-era levies on Chinese goods. The officials also talked about stubborn supply chain problems, several of which stem from parts of China that have been under pandemic lockdowns. Several Chinese cities and regions have ramped up Covid restrictions in recent days, indicating the economic impact of the disease on the world’s second-largest economy is far from settled.

The euro fell to a 20-year low against the dollar Tuesday. The European Central Bank is set to raise rates for the first time in 11 years this month.

Some of Europe’s greatest fears about energy are playing out, as countries work to stockpile natural gas. As Russia prepares to shut down a major gas pipeline into Germany for maintenance, officials are worried Vladimir Putin’s government could keep the taps off for longer than the July 11-21 period.

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

The national average price of gasoline is down seven-tenths of a cent at $4.800 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 6/27/22 after the market close with $0.90, beating estimates of $0.812 per share.

Walgreens (WBA) reported earnings on 6/30/22 before the market open with $0.96, beating estimates of $0.953 per share.

JPMorgan (JPM) reports earnings on 7/14/22 before the market open.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 146.51 (+1.19%) is up +24.85% in 2022.

Financial Calendar

10:00 AM ET Durables Excluding Defense (MoM) (May) 10:00 AM ET Factory Orders (MoM) (May) 10:00 AM ET Factory orders ex transportation (MoM) (May) 11:30 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month Bill Auction

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