Dow stocks hitting 52-week highs include Merck (MRK) 111.55 (+1.24%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -425 points.

Wednesday the Dow closed down -142.29 (-0.42%) at 33,966.35.

Year-to-date the Dow is down -6.53%.

Wednesday, (29) Dow 30 stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Merck (MRK) 111.55 (+1.24%), Boeing (BA) 188.25 (+0.60%) and Procter & Gamble (PG) 152.84 (+0.39%).

The Dow stock losers Wednesday were led by Goldman Sachs (GS) 360.38 (-2.25%), American Express (AXP) 154.11 (-2.16%) and Intel (INTC) 28.26 (-1.64%).

The 10 YR yield closed Wednesday at 3.494 (-0.40%) and the VIX at 21.14 (-6.25%). The 10 YR is currently at 3.477 and VIX is at 21.73 (+2.79%).

Investors didn’t hear what they wanted from the Federal Reserve on Wednesday afternoon, as stocks sold off, potentially creating negative momentum for Thursday’s session, as well. “Historical experience cautions strongly against prematurely loosening policy. I wouldn’t see us considering rate cuts until the committee is confident that inflation is moving down to 2% in a sustained way,” Fed Chairman Jerome Powell said Wednesday. While the Fed delivered its expected half-percentage-point rate hike, it also boosted its rate target for next year to 5.1%. Right now it’s at a 15-year high of 4.25% to 4.5%.

The Biden administration is getting back to sending out free Covid tests as cases and hospitalizations rise heading into winter. The government had shut down the program in September, blaming a lack of additional funding from Congress. However, this week, officials said they shifted already-approved money over to pay for this round. The rapid tests, which you can order through CovidTests.gov, will start shipping Monday, just days before Christmas celebrations and holiday break for students of all ages across the country.

Jobless claims fell again to 211,000 for the week ending Dec. 10, down 20,000 from the previous week according to the Labor Department. Continuing claims for the week ending Dec. 3 were 1,671,000, about the same as last week’s report.

The Philadelphia Manufacturing Index rose 6 points but remained negative at -13.8, signaling contraction. It’s the fourth consecutive negative reading of the index, and the sixth in seven months.

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

The national average price of gasoline is down 1.1 cents at $3.193 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) 188.25 (+0.60%) is down -6.49% in 2022.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,671K, 1,671K
08:30 AM ET Core Retail Sales (MoM) (Nov), 0.2%, 1.3%
08:30 AM ET Initial Jobless Claims, 230K, 230K
08:30 AM ET Jobless Claims 4-Week Avg., 230.00K
08:30 AM ET NY Empire State Manufacturing Index (Dec), -1.00, 4.50
08:30 AM ET Philadelphia Fed Manufacturing Index (Dec), -10.0, -19.4
08:30 AM ET Philly Fed Business Conditions (Dec), -7.1
08:30 AM ET Philly Fed CAPEX Index (Dec), 6.40
08:30 AM ET Philly Fed Employment (Dec), 7.1
08:30 AM ET Philly Fed New Orders (Dec), -16.2
08:30 AM ET Philly Fed Prices Paid (Dec), 35.30
08:30 AM ET Retail Control (MoM) (Nov), 0.2%, 0.7%
08:30 AM ET Retail Sales (MoM) (Nov), -0.1%, 1.3%
08:30 AM ET Retail Sales (YoY) (Nov), 8.27%
08:30 AM ET Retail Sales Ex Gas/Autos (MoM) (Nov), 0.9%
09:15 AM ET Capacity Utilization Rate (Nov), 79.8%, 79.9%
09:15 AM ET Industrial Production (YoY) (Nov), 3.28%
09:15 AM ET Industrial Production (MoM) (Nov), 0.1%, -0.1%
09:15 AM ET Manufacturing Production (MoM) (Nov), -0.1%, 0.1%
10:00 AM ET Business Inventories (MoM) (Oct), 0.4%, 0.4%
10:00 AM ET Retail Inventories Ex Auto (Oct), -0.4%
10:19 AM ET Dallas Fed PCE (Sep), 6.00%
10:30 AM ET Natural Gas Storage, -45B, -21B
11:00 AM ET Cleveland CPI (MoM) (Nov), 0.5%
11:30 AM ET 4-Week Bill Auction, 3.650%
11:30 AM ET 8-Week Bill Auction, 3.940%
16:00 PM ET US Foreign Buying, T-bonds (Oct), 60.40B
16:00 PM ET Overall Net Capital Flow (Oct), 30.90B
16:00 PM ET TIC Net Long-Term Transactions (Oct), 118.0B
16:00 PM ET TIC Net Long-Term Transactions including Swaps (Oct), 104.80B