The Dow Market Happenings For Monday, December 12, 2022 – Apple (AAPL) 142.16 Down -19.94% YTD

Dow stocks hitting 52-week highs include Merck (MRK) 108.78 (-1.87%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +76 points.

Friday the Dow closed down -305.02 (-0.90%) at 33,476.46.

Year-to-date the Dow is down -7.88%.

Friday, (5) Dow 30 stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Friday were led by Disney (DIS) 93.38 (+0.90%), Verizon (VZ) 37.40 (+0.81%) and Salesforce (CRM) 131.11 (+0.75%).

The Dow stock losers Friday were led by Chevron (CVX) 168.00 (-3.19%), Amgen (AMGN) 278.65 (-2.42%) and Walmart (WMT) 145.31 (-2.33%).

The 10 YR yield closed Friday at 3.598 (+2.71%) and the VIX at 22.83 (+2.42%). The 10 YR is currently at 3.537 and VIX is at 22.87 (+2.60%).

The Federal Reserve will hold its two-day policy-setting meeting this week, starting Tuesday. It is expected to boost its benchmark rate by another half of a percentage point, following several three-quarter-point increases going back to June. Adding to the drama for markets, the government will release November’s consumer price index reading, a keenly watched measure of inflation, on Tuesday. While the CPI print likely won’t sway the Fed’s voting members during the meeting, it could influence Chairman Jerome Powell’s tone during his remarks Wednesday.

Microsoft (MSFT) is taking a 4% stake in the London Stock Exchange Group as part of a new, 10-year partnership. Over that period, LSEG has agreed to spend at least $2.8 billion on Microsoft’s cloud-related products. Microsoft will also move LSEG’s data platform and other parts of its tech infrastructure to its Azure cloud product. The two firms will also work together on developing workplace collaboration tools. The move comes as Microsoft, which also makes Xbox gaming consoles, faces an antitrust battle in the United States over its proposed acquisition of video game giant Activision Blizzard.

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

The national average price of gasoline is down 1.5 cents at $3.262 per gallon.

Earnings Reports

Nike (NKE) will report earnings on 12/20/22 after the market close.

Today’s Featured Dow Stock

Apple (AAPL)

Apple (AAPL) 142.16 (-0.34%) is down -19.94% in 2022.

Financial Calendar

10:00 AM ET Consumer Inflation Expectations
13:00 PM ET 10-Year Note Auction, 4.140%
13:00 PM ET 3-Month Bill Auction, 4.270%
14:00 PM ET Federal Budget Balance (Nov), -88.0B

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