DJIA Market Happenings For Wednesday, September 21, 2022 – Boeing (BA) 145.94 Down -27.51% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Salesforce (CRM) 149.80 (-1.98%), Dow (DOW) 46.09 (-1.39%), Microsoft (MSFT) 242.45 (-0.85%), Verizon (VZ) 40.59 (-1.58%) and Walgreens (WBA) 33.99 (-0.47%).

The Market

Premarket today, the Dow was indicated to open up +153 points.

Tuesday the Dow closed down -313.45 (-1.01%) at 30,706.23.

Year-to-date the Dow is down -15.50%.

Tuesday, (2) Dow stocks were up, (5) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were Apple (AAPL) 156.90 (+1.57%) and Boeing (BA) 145.94 (+0.73%).

The Dow stock losers Tuesday were led by Nike (NKE) 102.42 (-4.47%), Caterpillar (CAT) 177.99 (-2.26%), Home Depot (HD) 274.17 (-2.23%) and Travelers (TRV) 160.95 (-2.03%).

The 10 YR yield is currently at 3.557% and the VIX is at 27.16 (+5.43%).

The Federal Reserve is widely expected to raise its benchmark interest rate by 0.75 percentage point at its meeting that concludes Wednesday. The Fed will reveal its decision at 11 am PST, while Chairman Jerome Powell will discuss the central bank’s rationale at 11:30 am.

Demand for mortgages has grown even though rates surpassed 6%, effectively doubling where they were at the beginning of this year. Refinance applications, which tend to be more sensitive to big swings in rates than purchase applications, rose 10% for the week, although they were still down more than 80% from where they were a year ago. Don’t bank on this indicating a larger trend. Homes are still expensive, even as sellers are negotiating more and some homebuilders are lowering prices.

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

The national average price of gasoline is up seven-tenths of a cent at $3.681 per gallon.

Latest Dow 30 Earnings Reports

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

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) 145.94 (+0.73%) is down -27.51% in 2022.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.01%
07:00 AM ET MBA Mortgage Applications (WoW), -1.2%
07:00 AM ET MBA Purchase Index, 198.1
07:00 AM ET Mortgage Market Index, 255.0
07:00 AM ET Mortgage Refinance Index, 532.9
10:00 AM ET Existing Home Sales (Aug), 4.70M, 4.81M
10:00 AM ET Existing Home Sales (MoM) (Aug), -5.9%
10:30 AM ET Crude Oil Inventories, 2.161M, 2.442M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.093M
10:30 AM ET Crude Oil Imports, -1.069M
10:30 AM ET Cushing Crude Oil Inventories, -0.135M
10:30 AM ET Distillate Fuel Production, -0.012M
10:30 AM ET EIA Weekly Distillates Stocks, 0.420M, 4.219M
10:30 AM ET Gasoline Production, -0.399M
10:30 AM ET Heating Oil Stockpiles, 0.039M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.1%, 0.6%
10:30 AM ET Gasoline Inventories, -0.431M, -1.767M
14:00 PM ET Interest Rate Projection – 1st Yr (Q3), 3.80
14:00 PM ET Interest Rate Projection – 2nd Yr (Q3), 3.4
14:00 PM ET Interest Rate Projection – 3rd Yr (Q3), 2.1
14:00 PM ET Interest Rate Projection – Current (Q3), 3.4
14:00 PM ET Interest Rate Projection – Longer (Q3), 2.5
14:00 PM ET FOMC Economic Projections
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 3.25%, 2.50%
14:30 PM ET FOMC Press Conference

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