There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Caterpillar (CAT) 172.31 (-0.83%).

The Market

Premarket today, the Dow was indicated to open up +192 points.

Wednesday the Dow closed up +69.86 (+0.23%) at 31,037.68.

Year-to-date the Dow is down -14.59%.

Wednesday, (18) of the Dow 30 stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) 515.29 (+1.99%), Cisco (CSCO) 42.69 (+1.74%) and Travelers (TRV) 169.90 (+1.61%).

The Dow stock losers Wednesday were led by Walgreens (WBA) 37.78 (-1.90%), Chevron (CVX) 140.78 (-1.32%) and Goldman Sachs (GS) 293.76 (-1.16%).

The 10 YR yield is currently at 2.925% and the VIX is at 26.73 (-2.94%).

Minutes from the Fed’s June meeting, which were released Wednesday, revealed that the central bank is prepared to use even more restrictive measures to tame surging inflation. They indicated that July’s meeting would bring another rate hike of up to 75 basis points, and acknowledged that the economy could suffer a slowdown. “Participants concurred that the economic outlook warranted moving to a restrictive stance of policy, and they recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist,” the minutes said. Treasury yields, meanwhile, continued to rise.

Unemployment insurance weekly claims in the week ending July 2, the advance figure for seasonally adjusted initial claims was 235,000, an increase of 4,000 from the previous week’s unrevised level of 231,000. The 4-week moving average was 232,500, an increase of 750 from the previous week’s unrevised average of 231,750. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending June 25, an increase of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending June 25 was 1,375,000, an increase of 51,000 from the previous week’s revised level. The previous week’s level was revised down by 4,000 from 1,328,000 to 1,324,000. The 4-week moving average was 1,335,000, an increase of 16,500 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 1,319,500 to 1,318,500. The total number of continued weeks claimed for benefits in all programs for the week ending June 18 was 1,327,839, an increase of 13,570 from the previous week. There were 14,208,913 weekly claims filed for benefits in all programs in the comparable week in 2021.

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

The national average price of gasoline is down 2.7 cents at $4.752 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.

UnitedHealth (UNH) reports earnings on 7/15/22 before the market open.

Goldman Sachs (GS) reports earnings on 7/18/22 before the market open.

IBM (IBM)) reports earnings on 7/18/22 after the market close.

Johnson & Johnson (JNJ) reports earnings on 7/19/22 before the market open.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 51.18 (+0.89%) is down -9.77% in 2022.

Financial Calendar

07:30 AM ET Challenger Job Cuts (YoY)
07:30 AM ET Challenger Job Cuts (Jun)
08:15 AM ET ADP Nonfarm Employment Change (Jun)
08:30 AM ET Continuing Jobless Claims
08:30 AM ET Exports
08:30 AM ET Imports
08:30 AM ET Initial Jobless Claims
08:30 AM ET Jobless Claims 4-Week Avg
08:30 AM ET Trade Balance (May)
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
11:30 AM ET 4-Week Bill Auction
11:30 AM ET 8-Week Bill Auction
13:00 PM ET Fed Waller Speaks
13:00 PM ET FOMC Member Bullard Speaks