The Dow Market Happenings For Wednesday, July 13, 2022 – IBM (IBM) 139.18 Up +4.13% YTD

There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -319 points.

Tuesday the Dow closed down -192.51 (-0.62%) at 30,981.33.

Year-to-date the Dow is down -14.74%.

Tuesday, (8) of the Dow 30 stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Boeing (BA) 147.15 (+7.42%), Walgreens (WBA) 37.97 (+1.44%) and 3M (MMM) 130.20 (+0.92%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 166.33 (-4.61%), Microsoft (MSFT) 253.67 (-4.10%) and Travelers (TRV) 165.28 (-1.92%).

The 10 YR yield is currently at 2.987% and the VIX is at 27.29 (+4.28%).

The latest consumer price index report came in hotter than expected, rising 9.1% from a year ago. Observers had expected an 8.8% year-over-year surge. Inflation has been soaring at rates not seen in four decades, and it has weighed on consumer sentiment even though Americans keep spending at high levels. Investors are eager for signs that inflation could be peaking, as the Federal Reserve considers whether to raise rates by 50 or 75 basis points during its next meeting.

On a monthly basis, the broadest measure of inflation rose at a pace of 1.3%, inching up from 1% in May and climbing at a faster tempo than the 1.1% climb economists had projected. This marked the largest monthly increase since 2005.

“Core” CPI, which excludes the more volatile food and energy components, rose 5.9% in June, compared to 6.0% in May. Economists expected a 5.7% increase in this measure.

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

The national average price of gasoline is down 2.4 cents at $4.631 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.

Dow (DOW) reports earnings on 7/21/22 before the market open.

Travelers (TRV) reports earnings on 7/21/22 before the market open.

American Express (AXP) reports earnings on 7/22/22 before the market open.

Verizon (VZ) reports earnings on 7/22/22 before the market open.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) 139.18 (-1.29%) is up +4.13% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate
07:00 AM ET MBA Mortgage Applications (WoW)
07:00 AM ET MBA Purchase Index
07:00 AM ET Mortgage Market Index
07:00 AM ET Mortgage Refinance Index
08:30 AM ET Core CPI (YoY) (Jun), 5.7%, 6.0%
08:30 AM ET Core CPI (MoM) (Jun), 0.6%, 0.6%
08:30 AM ET Core CPI Index (Jun), 292.29
08:30 AM ET CPI (MoM) (Jun), 1.1%, 1.0%
08:30 AM ET CPI (YoY) (Jun), 8.8% , 8.6%
08:30 AM ET CPI Index, n.s.a. (Jun) , 295.67, 292.30
08:30 AM ET CPI Index, s.a (Jun), 291.47
08:30 AM ET CPI, n.s.a (MoM) (Jun), 1.10%
08:30 AM ET Real Earnings (MoM) (Jun) , -0.7%
10:30 AM ET Crude Oil Inventories
10:30 AM ET EIA Refinery Crude Runs (WoW)
10:30 AM ET Crude Oil Imports
10:30 AM ET Cushing Crude Oil Inventories
10:30 AM ET Distillate Fuel Production
10:30 AM ET EIA Weekly Distillates Stocks
10:30 AM ET Gasoline Production
10:30 AM ET Heating Oil Stockpiles
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW)
10:30 AM ET Gasoline Inventories
11:00 AM ET Cleveland CPI (MoM) (Jun), 0.6%
12:00 PM ET Thomson Reuters IPSOS PCSI (Jul)
13:00 PM ET 30-Year Bond Auction
14:00 PM ET Beige Book
14:00 PM ET Federal Budget Balance (Jun)

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