There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Caterpillar (CAT) 162.44 (-0.11%), Intel (INTC) 26.89 (-0.30%), JPMorgan (JPM) 105.85 (-0.30%), 3M (MMM) 112.41 (-0.52%), Microsoft (MSFT) 236.41 (-0.44%), Nike (NKE) 96.29 (+0.24%), Visa (V) 177.87 (-1.51%) and Walgreens (WBA) 32.43 (-0.80%).

The Market

Premarket today, the Dow was indicated to open up +63 points.

Tuesday the Dow closed down -125.82 (-0.43%) at 29,134.99.

Year-to-date the Dow is down -19.82%.

Tuesday, (10) Dow stocks were up, (8) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Salesforce (CRM) 148.89 (+1.76%), Dow (DOW) 43.79 (+0.92%) and Home Depot (HD) 268.69 (+0.79%).

The Dow stock losers Tuesday were led by McDonald’s (MCD) 236.70 (-2.90%), Procter & Gamble (PG) 131.98 (-2.75%) and Coca Cola (KO)56.38 (-2.57%).

The 10 YR yield closed Tuesday at 3.988% and the VIX at 32.60 (+1.05%). The 10 YR is currently at 3.833 and VIX is at 33.02 (+1.29%).

Stock futures seesawed this morning following a new development from the UK. The Bank of England is intervening in the market chaos unleashed by the new UK government’s tax-cut-heavy economic plan. The central bank said Wednesday that it would hold off on its plans to start selling bonds, also known as gilts in the UK, and start a temporary program of buying longer-term debt. “Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability,” the Bank of England said. “This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy.” The pound, which had fallen drastically against the dollar, popped briefly on the news. Yields on gilts are on track to post their biggest monthly gain in 65 years. The tax-cut plan from new Prime Minister Liz Truss’s government puzzled investors, officials and experts alike, even drawing backlash from the International Monetary Fund.

Ian became a Category 4 hurricane as it geared up to smash into the Tampa region on Florida’s west coast. The storm’s center was about 75 miles west-southwest of Naples, Florida, as of 5 a.m. ET Wednesday, according to the National Hurricane Center. Ian left Cuba without power before heading toward Florida. The storm’s approach prompted several authorities and companies to batten down the hatches. Walt Disney World and Universal Studios Orlando said they would be closing their parks for at least a couple days, while Amazon said it would close some of its warehouses in the region. The Tampa and Orlando airports also suspended operations.

Apple (AAPL) reportedly is reining in iPhone production. That iPhone report is weighing on Apple stock.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.52% from 6.25%. Applications to refinance a home loan dropped 11% for the week and were 84% lower than the same week one year ago. Mortgage applications to purchase a home decreased 0.4% for the week and were 29% lower than the same week one year ago.

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

The national average price of gasoline is up 1.8 cents at $3.765 per gallon.

Latest Dow 30 Earnings Reports

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

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 95.85 (-2.31%) is down -38.12% in 2022.

07:00 AM ET MBA 30-Year Mortgage Rate, 6.25%
07:00 AM ET MBA Mortgage Applications (WoW), 3.8%
07:00 AM ET MBA Purchase Index, 200.1
07:00 AM ET Mortgage Market Index, 264.7
07:00 AM ET Mortgage Refinance Index, 588.1
08:30 AM ET Goods Trade Balance (Aug), -90.19B
08:30 AM ET Retail Inventories Ex Auto (Aug), 0.4%
08:30 AM ET Wholesale Inventories (MoM), 0.6%
08:35 AM ET FOMC Member Bostic Speaks
10:00 AM ET Pending Home Sales (MoM) (Aug), -1.4%, -1.0%
10:00 AM ET Pending Home Sales Index (Aug), 89.8
10:10 AM ET FOMC Member Bullard Speaks
10:15 AM ET Fed Chair Powell Speaks
10:30 AM ET Crude Oil Inventories, 0.443M, 1.142M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.333M
10:30 AM ET Crude Oil Imports, 1.130M
10:30 AM ET Cushing Crude Oil Inventories, 0.343M
10:30 AM ET Distillate Fuel Production, 0.217M
10:30 AM ET EIA Weekly Distillates Stocks, -0.069M, 1.231M
10:30 AM ET Gasoline Production, 0.006M
10:30 AM ET Heating Oil Stockpiles, 0.447M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.8%, 2.1%
10:30 AM ET Gasoline Inventories, 0.709M, 1.569M
11:00 AM ET FOMC Member Bowman Speaks
13:00 AM ET 7-Year Note Auction, 3.130%
14:00 AM ET Chicago Fed President Evans Speaks