DJIA Market Happenings For Wednesday, September 7, 2022 – Nike (NKE) 105.15 Down -36.91% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Salesforce (CRM) 151.72 (-1.28%), Intel (INTC) 30.36 (-2.75%), 3M (MMM) 116.60 (-4.15%) and Verizon (VZ) 41.10 (-0.48%).

The Market

Premarket today, the Dow was indicated to open down -57 points.

Tuesday the Dow closed down -173.14 (-0.55%) at 31,145.30.

Year-to-date the Dow is down -14.29%.

Tuesday, (8) Dow 30 stocks were up, (4) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were Visa (V) 198.64 (+0.44%), Boeing (BA) 152.39 (+0.38%) and Johnson & Johnson (JNJ) 163.18 (+0.27%).

The Dow stock losers Tuesday were led by 3M (MMM) 116.60 (-4.15%), Intel (INTC) 30.36 (-2.75%) and Goldman Sachs (GS) 326.49 (-1.51%).

The 10 YR yield is currently at 3.301% and the VIX is at 26.95 (+0.15%).

The Fed is gearing up to hike its benchmark rate again this month, and investors will be looking to the central bank’s Beige Book release at 2:30 p.m. ET for more economic clues about how the fed will fight inflation. Fed Vice Chair Lael Brainard is also set to speak Wednesday.

Apple (AAPL) is about to launch new iPhones and other core products. Indeed, the company is expected to unveil four new models of its iPhone, with a slew of upgrades.

California on Tuesday set a new record for peak energy demand as people sought to keep cool during an extended, blistering heat wave. Yet while the state’s grid operator warned residents of the potential for rolling blackouts Tuesday evening, none occurred. Since the end of August, Californians have received so-called flex alerts to curb energy usage by setting thermostat temperatures in the 70s and avoiding the use of major appliances, like dryers, at night. The state, which is grappling with drought conditions and a wildfire, is expected to suffer excessive heat conditions through Thursday.

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

The national average price of gasoline is down 1.5 cents at $3.764 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

Nike (NKE)

Nike (NKE) 105.15 (-0.56%) is down -36.91% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 5.80%
07:00 AM ET MBA Mortgage Applications (WoW), -3.7%
07:00 AM ET MBA Purchase Index, 199.1
07:00 AM ET Mortgage Market Index, 260.1
07:00 AM ET Mortgage Refinance Index, 562.5
08:30 AM ET Exports, 260.80B
08:30 AM ET Imports, 340.40B
08:30 AM ET Trade Balance (Jul), -70.30B, -79.60B
08:55 AM ET Redbook (YoY), 14.2%
09:00 AM ET FOMC Member Barkin Speaks
10:00 AM ET FOMC Member Mester Speaks
12:00 PM ET EIA Short-Term Energy Outlook
12:35 PM ET Fed Vice Chair Brainard Speaks
14:00 PM ET Beige Book
14:00 PM ET Fed Vice Chair for Supervision Barr Speaks
16:30 PM ET API Weekly Crude Oil Stock, 0.593M

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