Dow stocks hitting 52-week highs include McDonald’s (MCD) 277.79 (-0.22%) and Merck (MRK) 101.59 (+0.09%). Dow stock 52-week lows include Disney (DIS) 86.75 (-13.16%).

The Market

Premarket today, the Dow was indicated to open up +783 points.

Wednesday the Dow closed down -646.89 (-1.95%) at 32,513.94.

Year-to-date the Dow is down -10.52%.

Wednesday, (1) Dow stock was up, (1) made 52-week lows and (2) made 52-week highs.

The Dow stock winner Wednesday was Merck (MRK) 101.59 (+0.09%).

The Dow stock losers Wednesday were led by Disney (DIS) 86.75 (-13.16%), Chevron (CVX) 177.93 (-4.00%), Dow (DOW) 47.68 (-3.97%), Visa (V) 193.93 (-3.68%) and Walgreens (WBA) 36.89 (-3.66%).

The 10 YR yield closed Wednesday at 4.100 and the VIX at 26.09 (+2.15%). The 10 YR is currently at 3.924 (Wow! Below 4.0) and VIX is at 23.66 (-9.31%).

Inflation slowed notably last month. Consumer prices picked up by +7.7 percent in the year through October, less than the +7.9 percent that analysts had expected, and down from +8.2 percent in the year through September. On a monthly basis, price gains climbed by +0.4 percent between September and October, matching the previous month. After stripping out food and fuel, both of which jump around in price, a “core” inflation index decelerated to +6.3 percent on an annual basis, down from +6.6 percent in the prior reading.

Markets look ready to give us back yesterday’s losses. Guess we will see what they give us. The Dow is really perking so far, up nearly 800 points.

A large chunk of Microsoft co-founder Paul Allen’s art collection, which features pieces spanning 500 years, was sold at auction Wednesday night to the tune of nearly $1.51 billion. That easily tops the $922 million paid for the Harry and Linda Macklowe collection, the previous record holder. Allen’s collection includes works by legendary artists Vincent van Gogh, Edward Steichen and Gustav Klimt. Georges Seurat’s “Les Poseuses, Ensemble” sold for $149.2 million, the biggest score of the night. All told, five works went for over $100 million. More items from Allen’s collection are due to hit the block Thursday. The proceeds will go to charity.

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

The national average price of gasoline is down two-tenths of a cent at $3.803 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.

Walgreens (WBA) reported earnings on 10/13/2022 before the market open with $0.80, beating estimates of $0.779 per share.

JPMorgan (JPM) reported earnings on 10/14/2022 before the market open with $3.12, beating estimates of $2.961 per share.

UnitedHealth (UNH) reported earnings on 10/14/2022 before the market open with $5.79, beating estimates of $5.451 per share.

Goldman Sachs (GS) reported earnings on 10/18/2022 before the market open with $8.25, beating estimates of $7.69 per share.

Johnson & Johnson (JNJ) reported earnings on 10/18/2022 before the market open with $2.55, beating estimates of $2.494 per share.

Procter & Gamble (PG) reported earnings on 10/19/2022 before the market open with $1.57, beating estimates of $1.548 per share.

Travelers (TRV) reported earnings on 10/19/2022 before the market open with $2.20, beating estimates of $1.77 per share.

IBM (IBM) reported earnings on 10/19/2022 after the market close with $1.81, beating estimates of $1.776 per share.

Dow (DOW) reported earnings on 10/20/2022 before the market open with $1.11, beating estimates of $1.026 per share.

American Express (AXP) reported earnings on 10/21/2022 before the market open with $2.47, beating estimates of $2.385 per share.

Verizon (VZ) reported earnings on 10/21/2022 before the market open with $1.32, beating estimates of $1.285 per share.

Coca Cola (KO) reported earnings on 10/25/2022 before the market open with $0.69, beating estimates of $0.636 per share.

3M (MMM) reported earnings on 10/25/2022 before the market open with $2.69, beating estimates of $2.612 per share.

Microsoft (MSFT) reported earnings on 10/25/2022 after the market close with $2.35, beating estimates of $2.29 per share.

Visa (V) reported earnings on 10/25/2022 after the market close with $1.93, beating estimates of $1.857 per share.

Boeing (BA) reported earnings on 10/26/2022 before the market open with -$6.18, missing estimates of -$0.006 per share.

Caterpillar (CAT) reported earnings on 10/27/2022 before the market open with $3.95, beating estimates of $3.186 per share.

Honeywell (HON) reported earnings on 10/27/2022 before the market open with $2.25, beating estimates of $2.163 per share.

McDonald’s (MCD) reported earnings on 10/27/2022 before the market open with $2.68, beating estimates of $2.57 per share.

Merck (MRK) reported earnings on 10/27/2022 before the market open with $1.85, beating estimates of $1.674 per share.

Apple (AAPL) reported earnings on 10/27/2022 after the market close with $1.29, beating estimates of $1.261 per share.

Intel (INTC) reported earnings on 10/27/2022 after the market close with $0.59, beating estimates of $0.34 per share.

Chevron (CVX) reported earnings on 10/28/2022 before the market open with $5.56, beating estimates of $5.019 per share.

Amgen (AMGN) reported earnings on 11/3/2022 after the market close with $4.70, beating estimates of $4.427 per share.

Disney (DIS) reports earnings on 11/8/2022 after the market close with $0.30, missing estimates of $0.503 per share.

Home Depot (HD) reports earnings on 11/15/2022 before the market open.

Walmart (WMT) reports earnings on 11/15/2022 before the market open.

Cisco (CSCO) reports earnings on 11/16/2022 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 47.68 (-3.97%) is down -15.94% in 2022.

02:00 AM ET Fed Waller Speaks
08:30 AM ET Continuing Jobless Claims, 1,475K, 1,485K
08:30 AM ET Core CPI (MoM) (Oct), 0.5%, 0.6%
08:30 AM ET Core CPI (YoY) (Oct), 6.5%, 6.6%
08:30 AM ET Core CPI Index (Oct), 298.66
08:30 AM ET CPI (MoM) (Oct), 0.6%, 0.4%
08:30 AM ET CPI (YoY) (Oct), 8.0%, 8.2%
08:30 AM ET CPI Index, n.s.a. (Oct), 298.58, 296.81
08:30 AM ET CPI Index, s.a (Oct), 296.76
08:30 AM ET CPI, n.s.a (MoM) (Oct), 0.22%
08:30 AM ET Initial Jobless Claims, 220K, 217K
08:30 AM ET Jobless Claims 4-Week Avg., 218.75K
08:30 AM ET Real Earnings (MoM) (Oct), -0.1%
10:30 AM ET Natural Gas Storage, 84B, 107B
11:00 AM ET Cleveland CPI (MoM) (Oct), 0.7%
11:30 AM ET 4-Week Bill Auction, 3.600%
11:30 AM ET 8-Week Bill Auction, 3.820%
12:30 PM ET FOMC Member Mester Speaks
13:00 PM ET 30-Year Bond Auction, 3.930%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 613
13:00 PM ET U.S. Baker Hughes Total Rig Count, 770
13:30 PM ET FOMC Member George Speaks
14:00 PM ET Federal Budget Balance (Oct), -90.0B, -430.0B
18:35 PM ET FOMC Member Williams Speaks