The Dow Market Happenings For Tuesday, September 20, 2022 – American Express (AXP) 155.36 Down -5.04% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Microsoft (MSFT) 244.52 (-0.09%) and Walgreens (WBA) 34.15 (-0.35%).

The Market

Premarket today, the Dow was indicated to open down -218 points.

Monday the Dow closed up +197.26 (+0.64%) at 31,019.68.

Year-to-date the Dow is down -14.64%.

Monday, (21) Dow stocks were up, (2) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by Nike (NKE) 107.21 (+2.97%), Apple (AAPL) 154.48 (+2.51%) and Home Depot (HD) 280.42 (+1.61%).

The Dow stock losers Monday were led by Merck (MRK) 86.64 (-1.23%), Johnson & Johnson (JNJ) 166.28 (-0.79%) and Walgreens (WBA) 34.15 (-0.35%).

The 10 YR yield is currently at 3.583% and the VIX is at 26.63 (+3.38%).

The Federal Reserve’s policy-setting committee is set to start its two-day meeting Tuesday, as the market waits to see whether the central bank raises its benchmark rate by three-quarters of a point or a full point. The announcement is set for Wednesday at 11 am PT. Stocks generally have been in sell-off mode since August’s inflation data came in hotter than expected, prompting more uncertainty about how long the Fed would keep raising rates to battle price increases. U.S. equities markets, coming off a positive Monday, are set to open lower this morning.

Nike (NKE) is down -2.2% in premarket trading after Barclays downgraded the stock to “equal weight” from “overweight,” noting continued volatility for the athletic footwear and apparel maker in China as well as demand erosion in North America and elsewhere.

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

The national average price of gasoline is down three-tenths of a cent at $3.674 per gallon.

Latest Dow 30 Earnings Reports

Nike (NKE) reports earnings on 9/29/2022 after the market close.

Today’s Featured Dow Stock

American Express (AXP)

American Express (AXP) 155.36 (+1.49%) is down -5.04% in 2022.

Financial Calendar

08:30 AM ET Building Permits (Aug), 1.610M, 1.685M
08:30 AM ET Building Permits (MoM) (Aug), -0.6%
08:30 AM ET Housing Starts (MoM) (Aug), -9.6%
08:30 AM ET Housing Starts (Aug), 1.445M, 1.446M
08:55 AM ET Redbook (YoY), 11.4%
13:00 PM ET 20-Year Bond Auction, 3.380%
16:30 PM ET API Weekly Crude Oil Stock, 6.035M

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