The Dow Market Happenings For Friday, September 30, 2022 – Goldman Sachs (GS) 296.11 Down -22.60% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Intel (INTC) 26.38 (-2.76%), JPMorgan (JPM) 106.16 (-1.69%), Microsoft (MSFT) 237.50 (-1.48%), Nike (NKE) 95.33 (-3.41%), Procter & Gamble (PG) 128.70 (-2.49%), Verizon (VZ) 38.64 (-1.90%) and Walgreens (WBA) 31.55 (-4.97%).

The Market

Premarket today, the Dow was indicated to open down -54 points.

Thursday the Dow closed down -458.13 (-1.54%) at 29,225.61.

Year-to-date the Dow is down -19.57%.

Thursday, (2) Dow stocks were up, (7) made 52-week lows and none made 52-week highs.

The Dow stock winners Thursday were Travelers (TRV) 154.68 (+1.15%) and Visa (V) 180.06 (+0.49%).

The Dow stock losers Thursday were led by Boeing (BA) 125.33 (-6.08%), Walgreens (WBA) 31.55 (-4.97%), Apple (AAPL) 142.48 (-4.91%) and Nike (NKE)95.33 (-3.41%).

The 10 YR yield closed Thursday at 3.806% and the VIX at 31.84 (+5.50%). The 10 YR is currently at 3.825 and VIX is at 31.76 (+5.20%).

Core inflation rose 4.9% from a year ago in August and 0.6% on a monthly basis, according to a measure the Federal Reserve watches closely. Personal income rose 0.3%, the same as July and in line with the estimate. Spending rose 0.4% after declining 0.2% the month before. Headline inflation, including food and energy, also accelerated, despite a sharp drop in gasoline prices.

It looks like people will be getting a lot of steeply marked-down Nike gear for holiday gifts this year. The sneaker and sporting goods company said in its earnings report Thursday that it’s overwhelmed with products from multiple seasons because of supply chain problems. Some shipments intended for earlier seasons showed up after taking too long, Nike said, while the company is also getting products for the holiday shopping season, which it ordered early to hedge against shipping delays. Overall, the company’s inventory jumped 44% in the prior quarter, and by 65% in North America, its largest market. So that’s left Nike with no choice but to “aggressively liquidate” big chunks of its inventory, said CFO Matthew Friend. Nike isn’t the only one in selling mode: Shares of the company fell in off-hours trading.

Ian became a hurricane again after it barreled through Florida and hit the Atlantic Ocean. Now the storm is on a collision course with South Carolina, where it’s projected to make landfall Friday afternoon. Parts of the state could receive 8 inches of rain while suffering from severe flooding and winds, weather authorities said. Ian has already left a wide path of destruction in Florida, and knocked out powered to millions. President Joe Biden warned of a “substantial loss of life.” Images of Fort Myers, Florida, were particularly horrifying: Lingering floods, boats left on streets, houses smashed.

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

The national average price of gasoline is up 1.5 cents at $3.797 per gallon.

Latest Dow 30 Earnings Reports

Nike (NKE) reported earnings on 9/29/2022 after the market close with $0.93, beating estimates of $0.913 per share.

Today’s Featured Dow Stock

Goldman Sachs (GS)

Goldman Sachs (GS) 296.11 (-1.56%) is down -22.60% in 2022.

08:30 AM ET Core PCE Price Index (MoM) (Aug), 0.5%, 0.1%
08:30 AM ET Core PCE Price Index (YoY) (Aug), 4.7%, 4.6%
08:30 AM ET FOMC Member Barkin Speaks
08:30 AM ET PCE Price index (YoY) (Aug), 6.3%
08:30 AM ET PCE price index (MoM) (Aug), -0.1%
08:30 AM ET Personal Income (MoM) (Aug), 0.3% , 0.2%
08:30 AM ET Personal Spending (MoM) (Aug), 0.2%, 0.1%
08:30 AM ET Real Personal Consumption (MoM) (Aug), 0.2%
09:00 AM ET Fed Vice Chair Brainard Speaks
09:00 AM ET FOMC Member Mester Speaks
09:00 AM ET FOMC Member Williams Speaks
09:45 AM ET Chicago PMI (Sep), 51.8, 52.2
10:00 AM ET Michigan 5-Year Inflation Expectations (Sep), 2.80%
10:00 AM ET Michigan Consumer Expectations (Sep), 59.9
10:00 AM ET Michigan Consumer Sentiment (Sep), 59.5, 59.5
10:00 AM ET Michigan Current Conditions (Sep), 58.9
10:00 AM ET Michigan Inflation Expectations (Sep), 4.6%
11:00 AM ET Dallas Fed PCE (Aug), 3.40%
11:00 AM ET FOMC Member Bowman Speaks
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 602
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 602
13:00 PM ET U.S. Baker Hughes Total Rig Count, 764
13:00 PM ET U.S. Baker Hughes Total Rig Count, 764
15:30 PM ET CFTC Aluminium speculative net positions, 7.1K
15:30 PM ET CFTC Copper speculative net positions, -20.3K
15:30 PM ET CFTC Corn speculative net positions, 305.7K
15:30 PM ET CFTC Crude Oil speculative net positions, 239.9K
15:30 PM ET CFTC Gold speculative net positions, 65.7K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 3.5K
15:30 PM ET CFTC Natural Gas speculative net positions, -155.7K
15:30 PM ET CFTC S&P 500 speculative net positions, -219.5K
15:30 PM ET CFTC Silver speculative net positions, -1.6K
15:30 PM ET CFTC Soybeans speculative net positions, 84.8K
15:30 PM ET CFTC Wheat speculative net positions, -4.0K

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