DJIA Market Happenings For Thursday, September 29, 2022 – Dow (DOW) 45.05 Down -20.57% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Intel (INTC) 27.13 (+0.89%), Visa (V) 179.18 (+0.74%) and Walgreens (WBA) 33.20 (+2.37%).

The Market

Premarket today, the Dow was indicated to open down -215 points.

Wednesday the Dow closed up +548.75 (+1.88%) at 29,683.74.

Year-to-date the Dow is down -18.31%.

Wednesday, (28) Dow stocks were up, (3) made 52-week lows and none made 52-week highs.

The Dow stock winners Wednesday were led by Home Depot (HD) 282.19 (+5.02%), Boeing (BA) 133.44 (+4.65%), Disney (DIS) 99.40 (+3.70%) and Chevron (CVX) 145.78 (+3.38%).

The Dow stock losers Wednesday were Apple (AAPL) 149.84 (-1.27%) and Procter & Gamble (PG) 131.98 (unchanged).

The 10 YR yield closed Wednesday at 3.759% and the VIX at 30.18 (-7.42%). The 10 YR is currently at 3.825 and VIX is at 31.76 (+5.20%).

Stocks ripped higher Wednesday after the market digested the Bank of England’s announcement that it would start buying bonds to stabilize markets after the UK government’s economic plan was met with swift and sudden criticism. But U.S. stock futures Thursday morning indicates more selling. All three major indices are headed for big monthly losses as the third quarter winds down Friday. So far, the Dow is down about -5.8% in September, while the tech-heavy Nasdaq has fallen about -6.5% and the S&P 500 has declined about -5.9%.

Ian, after slamming into Florida as a Category 4 hurricane, has weakened to a tropical storm, but remains dangerous as it forges its way through the central part of the state. It’s too early to calculate the damage the storm has already caused in Florida. Dramatic video and images of violent winds and relentless flooding spread across social media Wednesday and Thursday. “Water. We have to talk about the water,” National Weather Service Director Ken Graham said. “Ninety percent of fatalities in these tropical systems comes from the water. It’s the storm surge, it’s the rain.” Millions were left without power, too, as Gov. Ron DeSantis warned of a “nasty” few days, and President Joe Biden declared a major disaster in the state.

Apple (AAPL) sold off Wednesday morning on report that it’s reining in iPhone production. But AAPL stock closed well off session lows. Apple iPhone chipmakers mostly recovered to little changed. Today, Apple stock fell modestly amid an analyst downgrade.

Unemployment insurance weekly claims in the week ending September 24, the advance figure for seasonally adjusted initial claims was 193,000, a decrease of 16,000 from the previous week’s revised level. The previous week’s level was revised down by 4,000 from 213,000 to 209,000. The 4-week moving average was 207,000, a decrease of 8,750 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 216,750 to 215,750. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending September 17, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 17 was 1,347,000, a decrease of 29,000 from the previous week’s revised level. The previous week’s level was revised down by 3,000 from 1,379,000 to 1,376,000. The 4-week moving average was 1,381,250, a decrease of 22,500 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 1,404,750 to 1,403,750. The total number of continued weeks claimed for benefits in all programs for the week ending September 10 was 1,302,353, an increase of 6,855 from the previous week. There were 5,027,611 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 lower.

The national average price of gasoline is up 1.7 cents at $3.782 per gallon.

Latest Dow 30 Earnings Reports

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

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 45.05 (+2.88%) is down -20.57% in 2022.

08:30 AM ET Continuing Jobless Claims, 1,388K, 1,379K
08:30 AM ET Core PCE Prices (Q2), 4.40%, 4.40%
08:30 AM ET Corporate Profits (QoQ) (Q2), 9.1%
08:30 AM ET GDP (QoQ) (Q2), -0.6%, -0.6%
08:30 AM ET GDP Price Index (QoQ) (Q2), 8.9%, 9.0%
08:30 AM ET GDP Sales (Q2), -0.5%, 1.3%
08:30 AM ET Initial Jobless Claims, 215K, 213K
08:30 AM ET Jobless Claims 4-Week Avg., 216.75K
08:30 AM ET PCE Prices (Q2), 7.1%
08:30 AM ET Real Consumer Spending (Q2), 1.5%
09:30 AM ET FOMC Member Bullard Speaks
10:30 AM ET Natural Gas Storage, 94B, 103B
11:30 AM ET 4-Week Bill Auction, 2.660%
11:30 AM ET 8-Week Bill Auction, 2.990%
13:00 PM ET FOMC Member Mester Speaks

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