The Dow Market Happenings For Thursday, September 8, 2022 – Procter & Gamble (PG) 137.68 Down -15.83% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Salesforce (CRM) 153.28 (+1.03%), Dow (DOW) 48.97 (+0.78%), Intel (INTC) 30.65 (+0.96%) and Verizon (VZ) 41.08 (-0.05%).

The Market

Premarket today, the Dow was indicated to open down -135 points.

Wednesday the Dow closed up +435.98 (+1.40%) at 31,581.28.

Year-to-date the Dow is down -13.09%.

Wednesday, (28) Dow 30 stocks were up, (4) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by 3M (MMM) 120.55 (+3.39%), Nike (NKE) 108.48 (+3.17%), Home Depot (HD) 297.47 (+2.74%) and Walmart (WMT) 135.74 (+2.57%).

The Dow stock losers Wednesday were Chevron (CVX) 155.11 (-1.28%) and Verizon (VZ) 41.08 (-1.28%).

The 10 YR yield is currently at 3.275% and the VIX is at 25.70 (+1.70%).

The Fed is primed to raise rates again this month, as it continues its battle against inflation, so market watchers are trying to get a grip on what the central bank will do next. Goldman Sachs analysts raised their rate hike outlook, saying they expect another three-quarter-point increase this month, a half-point increase in November and a quarter-point increase in December.

Unemployment insurance weekly claims in the week ending September 3, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 6,000 from the previous week’s revised level. The previous week’s level was revised down by 4,000 from 232,000 to 228,000. The 4-week moving average was 233,000, a decrease of 7,500 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 241,500 to 240,500. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending August 27, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 27 was 1,473,000, an increase of 36,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 1,438,000 to 1,437,000. The 4-week moving average was 1,439,000, an increase of 10,750 from the previous week’s revised average. The previous week’s average was revised down by 250 from 1,428,500 to 1,428,250. The total number of continued weeks claimed for benefits in all programs for the week ending August 20 was 1,414,849, a decrease of 23,283 from the previous week. There were 11,927,797 weekly claims filed for benefits in all programs in the comparable week in 2021.

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

The national average price of gasoline is down 1.3 cents at $3.751 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

Procter & Gamble (PG)

Procter & Gamble (PG) 137.68 (+1.51%) is down -15.83% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,435K, 1,438K
08:30 AM ET Initial Jobless Claims, 240K, 232K
08:30 AM ET Jobless Claims 4-Week Avg., 241.50K
09:10 AM ET Fed Chair Powell Speaks
10:30 AM ET Natural Gas Storage, 54B, 61B
11:00 AM ET Crude Oil Inventories, -0.250M, -3.326M
11:00 AM ET EIA Refinery Crude Runs (WoW), -0.017M
11:00 AM ET Crude Oil Imports, -0.005M
11:00 AM ET Cushing Crude Oil Inventories, -0.523M
11:00 AM ET Distillate Fuel Production, -0.281M
11:00 AM ET EIA Weekly Distillates Stocks, 0.530M, 0.111M
11:00 AM ET Gasoline Production, 0.349M
11:00 AM ET Heating Oil Stockpiles, 0.105M
11:00 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.8%, -1.1%
11:00 AM ET Gasoline Inventories, -1.667M, -1.172M
11:30 AM ET 4-Week Bill Auction, 2.470%
11:30 AM ET 8-Week Bill Auction, 2.730%
15:00 PM ET Consumer Credit (Jul), 33.00B, 40.15B

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