The Dow Market Happenings For Friday, August 26, 2022 – Johnson & Johnson (JNJ) 167.13 Down -2.30% 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 +124 points.

Thursday the Dow closed up +322.55 (+0.98%) at 33,291.78.

Year-to-date the Dow is down -8.38%.

Thursday, (28) of the Dow 30 stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Thursday were led by Boeing (BA) 169.38 (+3.53%), Intel (INTC) 34.89 (+3.04%), Dow (DOW) 55.76 (+2.80%) and Caterpillar (CAT) 198.88 (+2.43%).

The Dow stock losers Thursday were Salesforce (CRM) 173.91 (-3.39%) and Procter & Gamble (PG) 145.70 (-0.08%).

The 10 YR yield is currently at 3.031% and the VIX is at 21.69 (-0.41%).

Fed Chair Jerome Powell is slated to speak at 10 a.m. ET from Jackson Hole, Wyoming, and the entire investing world will be listening. Investors are keen to hear how hawkish he will sound when discussing the Fed’s next moves in its fight against rampant inflation. The central bank’s main policy-setting committee is expected to raise rates by another three-quarters of a point next month, but markets are looking for clarity about what Powell and crew will do beyond that.

Today we get more insight into why the FBI obtained a search warrant to seize several boxes of documents from former President Donald Trump’s Mar-a-Lago home in Florida earlier this month. A federal judge ordered the Justice Department to release a redacted version of the affidavit used to justify the search. Authorities had warned that unsealing the document would reveal too much about the investigation and potentially put witnesses at risk. The document is expected to be unsealed by noon Friday.

Also today, data from the Bureau of Economic Analysis showed consumer prices fell slightly last month. Headline PCE dropped 0.1% between June and July with a 4.8% decline in energy prices driving the index lower. On a year-over-year basis, headline PCE rose 6.3% in July. Core PCE, the Fed’s preferred measure of inflation, rose 0.1% month-on-month in July and 4.6% from the prior year, marking the lowest annual increase since October 2021. Economists had expected core PCE would rise 4.7% against the same month last year.

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

The national average price of gasoline is down nine-tenths of a cent at $3.869 per gallon.

Latest Dow 30 Earnings Reports

There are no Dow 30 companies set to report earnings in the near term.

Today’s Featured Dow Stock

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) 167.13 (+0.94%) is down -2.30% in 2022.

Financial Calendar

08:30 AM ET Core PCE Price Index (MoM) (Jul), 0.3%, 0.6%
08:30 AM ET Core PCE Price Index (YoY) (Jul), 4.7%, 4.8%
08:30 AM ET Goods Trade Balance (Jul), -98.50B, -98.59B
08:30 AM ET PCE Price index (YoY) (Jul), 6.8%
08:30 AM ET PCE price index (MoM) (Jul), 1.0%
08:30 AM ET Personal Income (MoM) (Jul), 0.6%, 0.6%
08:30 AM ET Personal Spending (MoM) (Jul), 0.4%, 1.1%
08:30 AM ET Real Personal Consumption (MoM) (Jul), 0.1%
08:30 AM ET Retail Inventories Ex Auto (Jul), 1.5%
08:30 AM ET Wholesale Inventories (MoM), 1.4%, 1.8%
09:00 AM ET Jackson Hole Symposium
10:00 AM ET Fed Chair Powell Speaks
10:00 AM ET Michigan 5-Year Inflation Expectations (Aug), 3.00%
10:00 AM ET Michigan Consumer Expectations (Aug), 54.9
10:00 AM ET Michigan Consumer Sentiment (Aug), 55.2, 55.1
10:00 AM ET Michigan Current Conditions (Aug), 55.5
10:00 AM ET Michigan Inflation Expectations (Aug), 5.0%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 601
13:00 PM ET U.S. Baker Hughes Total Rig Count, 762
13:30 PM ET Dallas Fed PCE (Jul), 6.90%
15:30 PM ET CFTC Aluminium speculative net positions, 4.8K
15:30 PM ET CFTC Copper speculative net positions, -28.2K
15:30 PM ET CFTC Corn speculative net positions, 220.1K
15:30 PM ET CFTC Crude Oil speculative net positions, 214.9K
15:30 PM ET CFTC Gold speculative net positions, 141.2K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 6.8K
15:30 PM ET CFTC Natural Gas speculative net positions, -120.9K
15:30 PM ET CFTC S&P 500 speculative net positions, -288.0K
15:30 PM ET CFTC Silver speculative net positions, 3.5K
15:30 PM ET CFTC Soybeans speculative net positions, 83.2K
15:30 PM ET CFTC Wheat speculative net positions, -1.9K

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