DJIA Market Happenings For Wednesday, August 31, 2022 – McDonald’s (MCD) 253.49 Down -5.44% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Intel (INTC) 32.26 (-2.06%), 3M (MMM) 124.86 (-1.25%), Verizon (VZ) 42.53 (-1.85%) and Walgreens (WBA) 35.18 (-2.17%).

The Market

Premarket today, the Dow was indicated to open up +123 points.

Tuesday the Dow closed down -308.12 (-0.96%) at 31,790.87..

Year-to-date the Dow is down -12.51%.

Tuesday, (2) Dow 30 stocks were up, (4) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Walmart (WMT) 132.88 (+0.97%), Chevron (CVX) 164.63 (+0.75%) and Boeing (BA) 165.42 (+0.54%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 160.21 (-3.04%), 3M (MMM) 126.44 (-2.09%) and Merck (MRK) 87.59 (-1.87%).

The 10 YR yield is currently at 3.133% and the VIX is at 25.82 (-1.49%).

Companies sharply slowed the pace of hiring in August amid growing fears of an economic slowdown, according to payroll processing company ADP. Private payrolls grew by just 132,000 for the month, a deceleration from the 270,000 gain in July, the firm said in its monthly payroll report. The Dow Jones estimate for the ADP count was 300,000.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.80% last week from 5.65% the previous week. Mortgage applications to purchase a home dropped 2% for the week and were 23% lower than the same week one year ago. The refinance share of mortgage activity decreased to 30.3% of total applications from about 66% a year ago.

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

The national average price of gasoline is down three-tenths of a cent at $3.841 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

McDonald’s (MCD)

McDonald’s (MCD) 253.49 (-0.85%) is down -5.44% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 5.65%
07:00 AM ET MBA Mortgage Applications (WoW), -1.2%
07:00 AM ET MBA Purchase Index, 202.8
07:00 AM ET Mortgage Market Index, 270.1
07:00 AM ET Mortgage Refinance Index, 609.8
08:00 AM ET FOMC Member Mester Speaks
08:15 AM ET ADP Nonfarm Employment Change (Jun), 200K, 128K
09:45 AM ET Chicago PMI (Aug), 52.0, 52.1
10:30 AM ET Crude Oil Inventories, -1.483M, -3.282M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.168M
10:30 AM ET Crude Oil Imports, 0.862M
10:30 AM ET Cushing Crude Oil Inventories, 0.426M
10:30 AM ET Distillate Fuel Production, 0.022M
10:30 AM ET EIA Weekly Distillates Stocks, -0.960M, -0.661M
10:30 AM ET Gasoline Production, -0.536M
10:30 AM ET Heating Oil Stockpiles, 0.845M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.4%, 0.3%
10:30 AM ET Gasoline Inventories, -1.178M, -0.027M
18:30 PM ET FOMC Member Bostic Speaks

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