The Dow Market Happenings For Thursday, August 18, 2022 – Dow (DOW) 55.46 Down -2.22% 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 up +22 points.

Wednesday the Dow closed down -171.69 (-0.50%) at 33,980.32.

Year-to-date the Dow is down -6.49%.

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

The Dow stock winners Wednesday were led by IBM (IBM) 137.79 (+0.90%), Appple (AAPL) 174.55 (+0.88%) and Chevron (CVX) 157.70 (+0.82%).

The Dow stock losers Wednesday were led by Boeing (BA) 167.20 (-2.84%), Walgreens (WBA) 40.87 (-2.78%) and 3M (MMM) 147.43 (-1.88%).

The 10 YR yield is currently at 2.885% and the VIX is at 19.90 (+1.07%).

The Federal Reserve is prepared to keep hiking rates until inflation comes down in a big way, according to minutes released Wednesday from the central bank’s policy-setting committee last month. The Fed raised rates by three-quarters of a point in June and July, and another increase is expected when Chairman Jerome Powell and others on the Federal Open Market Committee meet again in September. The minutes did, however, indicate that the Fed could ease off rate increases if central bankers see that their tighter policy is successfully fighting the four-decade-high inflation with which consumers are grappling. Gas prices have come down a bit, helping ease the rate of inflation, but the Fed and markets alike are looking for signs that it’ll keep sliding.

The Centers for Disease Control and Prevention admitted after an internal review that it didn’t respond quickly enough to the spread of Covid. So, CDC Director Rochelle Walensky said she would reorganize the agency to address its failures. Among the objectives: improving the speed of data-sharing and making guidelines simpler and less confusing for the general public. “For 75 years, CDC and public health have been preparing for Covid-19, and in our big moment, our performance did not reliably meet expectations,” the CDC director said in a statement.

Cisco (CSCO) rallied 5% in premarket trading after beating top and bottom line estimates for its latest quarter. The networking equipment maker also gave a stronger-than-expected outlook for the current quarter as supply chain issues ease.

Unemployment insurance weekly claims in the week ending August 13, the advance figure for seasonally adjusted initial claims was 250,000, a decrease of 2,000 from the previous week’s revised level. The previous week’s level was revised down by 10,000 from 262,000 to 252,000. The 4-week moving average was 246,750, a decrease of 2,750 from the previous week’s revised average. The previous week’s average was revised down by 2,500 from 252,000 to 249,500. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending August 6, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 6 was 1,437,000, an increase of 7,000 from the previous week’s revised level. The previous week’s level was revised up 2,000 from 1,428,000 to 1,430,000. The 4-week moving average was 1,413,000, an increase of 13,250 from the previous week’s revised average. The previous week’s average was revised up by 500 from 1,399,250 to 1,399,750. The total number of continued weeks claimed for benefits in all programs for the week ending July 30 was 1,481,478, an increase of 2,696 from the previous week. There were 11,825,252 weekly claims filed for benefits in all programs in the comparable week in 2021.

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

The national average price of gasoline is down 1.2 cents at $3.931 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) reported earnings on 7/14/22 before the market open with $2.76, missing estimates of $2.854 per share.

UnitedHealth (UNH) reported earnings on 7/15/22 before the market open with $5.57, beating estimates of $5.243 per shaare.

Goldman Sachs (GS) reports earnings on 7/18/22 before the market open with $7.33, beating estimates of $6.992 per share.

IBM (IBM) reported earnings on 7/18/22 after the market close with $2.31, beating estimates of $2.288 per share.

Johnson & Johnson (JNJ) reported earnings on 7/19/22 before the market open with $2.59, beating estimates of $2.57 per share.

Dow (DOW) reported earnings on 7/21/22 before the market open with $2.31, beating estimates of $2.14 per share.

Travelers (TRV) reported earnings on 7/21/22 before the market open with $2.57, beating estimates of $1.998 per share.

American Express (AXP) reported earnings on 7/22/22 before the market open with $2.57, beating estimates of $2.371 per share.

Verizon (VZ) reported earnings on 7/22/22 before the market open with $1.31, missing estimates of $1.338 per share.

3M (MMM) reported earnings on 7/26/22 before the market open with $2.48, beating estimates of $2.407 per share.

Coca Cola (KO) reported earnings on 7/26/22 before the market open with $0.70, beating estimates of $0.673 per share.

McDonald’s (MCD) reported earnings on 7/26/22 before the market open with $2.55, beating estimates of $2.456 per share.

Microsoft (MSFT) reported earnings on 7/26/22 after the market close with $2.23, missing estimates of $2.284 per share.

Visa (V) reported earnings on 7/26/22 after the market close with $1.98, beating estimates of $1.739 per share.

Boeing (BA) reported earnings on 7/27/22 before the market open with -$0.37, missing estimates of $-$0.078 per share.

Honeywell (HON) reported earnings on 7/28/22 before the market open with $2.10, beating estimates of $2.027 per share.

Merck (MRK) reported earnings on 7/28/22 before the market open with $1.87, beating estimates of $1.674 per share.

Apple (AAPL) reported earnings on 7/28/22 after the market close with $1.20, beating estimates of $1.138 per share.

Intel (INTC) reports earnings on 7/28/22 after the market close with $0.29, missing estimates of $0.689 per share.

Chevron (CVX) reported earnings on 7/29/22 before the market open with $55.95, beating estimates of $5.017 per share.

Procter & Gamble (PG) reported earnings on 7/29/22 before the market open with $1.21, missing estimates of $1.232 per share.

Caterpillar (CAT) reported earnings on 8/2/22 before the market open with $3.18, beating estimates of $2.996 per share.

Amgen (AMGN) reports earnings on 8/4/22 after the market close with $4.65, beating estimates of $4.405 per share.

Disney (DIS) reported earnings on 8/10/22 after the market close with $1.09, beating estimates of $0.937 per share.

Home Depot (HD) reported earnings on 8/16/22 before the market open with $5.05, beating estimates of $4.945 per share.

Walmart (WMT) reports earnings on 8/16/22 before the market open with $1.77, beating estimates of $1.604 per share.

Cisco (CSCO) reported earnings on 8/17/22 after the market close with $0.83, beating estimates of $0.728 per share.

Salesforce (CRM) reports earnings on 8/24/22 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 55.46 (-1.16%) is down -2.22% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,438K, 1,428K
08:30 AM ET Initial Jobless Claims, 265K, 262K
08:30 AM ET Jobless Claims 4-Week Avg., 252.00K
08:30 AM ET Philadelphia Fed Manufacturing Index (Aug), -5.0, -12.3
08:30 AM ET Philly Fed Business Conditions (Aug), -18.6
08:30 AM ET Philly Fed CAPEX Index (Aug), 4.40
08:30 AM ET Philly Fed Employment (Aug), 19.4
08:30 AM ET Philly Fed New Orders (Aug), -24.8
08:30 AM ET Philly Fed Prices Paid (Aug), 52.20
10:00 AM ET Existing Home Sales (Jul), 4.89M, 5.12M
10:00 AM ET Existing Home Sales (MoM) (Jul), -5.4%
10:00 AM ET US Leading Index (MoM) (Jul), -0.5%,, -0.8%
10:30 AM ET Natural Gas Storage, 34B, 44B
11:30 AM ET 4-Week Bill Auction, 2.150%
11:30 AM ET 8-Week Bill Auction, 2.430%
13:00 PM ET 30-Year TIPS Auction, 0.195%
13:20 PM ET FOMC Member George Speaks
13:45 PM ET FOMC Member Kashkari Speaks

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