The Dow Market Happenings For Friday, December 2, 2022 – Travelers (TRV) 189.14 Up +20.91% YTD

Dow stocks hitting 52-week highs include Merck (MRK) 109.80 (-0.29%) and Travelers (TRV) 189.14 (-0.35%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -449 points.

Thursday the Dow closed down -194.76 (-0.56%) at 34,395.01.

Year-to-date the Dow is down -5.35%.

Thursday, (13) of the Dow 30 stocks were up, none were at 52-week lows and (2) were at 52-week highs.

The Dow stock winners Thursday were led by Nike (NKE) 111.11 (+1.29%), Home Depot (HD) 327.07 (+0.95%) and Disney (DIS) 98.59 (+0.74%).

The Dow stock losers Thursday were Salesforce (CRM) 147.00 (-8.27%), UnitedHealth (UNH) 536.91 (-1.98%) and Boeing (BA) 175.78 (-1.73%).

The 10 YR yield closed Thursday at 3.558 and the VIX at 19.84 (-3.60%). The 10 YR is currently at 3.611 and VIX is at 20.57 (-0.05%).

Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. The payrolls number was well above the estimate for 200,000, while the unemployment rate was in line. Average hourly earnings jumped 0.6% for the month, double the estimate, and 5.1% annually versus the 4.6% expectation.

The Senate on Thursday passed legislation to enforce a railroad labor agreement, sending the bill to President Joe Biden for signing ahead of a strike deadline. The agreement grants rail workers pay raises, one-time payouts and one additional day of paid time off. But it won’t guarantee workers paid sick leave — chief among the labor unions’ concerns — after the Senate voted against a separate House-approved resolution to include seven days of paid sick time in the agreement. Biden had urged quick approval of the agreement in order to avoid the economic impacts of a rail workers’ strike.

The Supreme Court said it would hear arguments in a case against Biden’s plan to forgive some student debt, reviving hopes for millions of borrowers. A federal appeals court last month issued an injunction on the plan — which would erase up to $20,000 of student debt for many, in response to a challenge by six Republican-led states. Oral arguments are set for February, and the plan will remain on hold in the meantime.

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

The national average price of gasoline is down 2.2 cents at $3.448 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

Travelers (TRV)

Travelers (TRV) 189.14 (-0.35%) is up +20.91% in 2022.

Financial Calendar

08:30 AM ET Average Hourly Earnings (MoM) (Nov), 0.3%, 0.4%
08:30 AM ET Average Hourly Earnings (YoY) (YoY) (Nov), 4.6%, 4.7%
08:30 AM ET Average Weekly Hours (Nov), 34.5, 34.5
08:30 AM ET Government Payrolls (Nov), 28.0K
08:30 AM ET Manufacturing Payrolls (Nov), 20K, 32K
08:30 AM ET Nonfarm Payrolls (Nov), 200K, 261K
08:30 AM ET Participation Rate (Nov), 62.2%
08:30 AM ET Private Nonfarm Payrolls (Nov), 190K, 233K
08:30 AM ET U6 Unemployment Rate (Nov), 6.8%
08:30 AM ET Unemployment Rate (Nov), 3.7%, 3.7%
10:15 AM ET Chicago Fed President Evans Speaks
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 627
13:00 PM ET U.S. Baker Hughes Total Rig Count, 784
14:30 PM ET CFTC Aluminium speculative net positions, 6.7K
14:30 PM ET CFTC Copper speculative net positions, 3.1K
14:30 PM ET CFTC Corn speculative net positions, 248.8K
14:30 PM ET CFTC Crude Oil speculative net positions, 252.5K
14:30 PM ET CFTC Gold speculative net positions, 116.1K
14:30 PM ET CFTC Nasdaq 100 speculative net positions, 3.0K
14:30 PM ET CFTC Natural Gas speculative net positions, -170.9K
14:30 PM ET CFTC S&P 500 speculative net positions, -191.5K
14:30 PM ET CFTC Silver speculative net positions, 16.8K
14:30 PM ET CFTC Soybeans speculative net positions, 70.2K
14:30 PM ET CFTC Wheat speculative net positions, -27.5K

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