The Dow Market Happenings For Tuesday, December 20, 2022 – Cisco (CSCO) 47.40 Down -25.20% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Disney (DIS) 85.78 (-4.77%).

The Market

Premarket today, the Dow was indicated to open down -19 points.

Monday the Dow closed down -162.92 (-0.49%) at 32,757.54.

Year-to-date the Dow is down -9.85%.

Monday, (10) Dow 30 stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by Walgreens (WBA) 39.32 (+0.69%), Chevron (CVX) 169.88 (+0.69%) and JPMorgan (JPM) 130.06 (+0.60%).

The Dow stock losers Monday were led by Disney (DIS) 85.78 (-4.77%), Nike (NKE) 103.05 (-2.74%) and Home Depot (HD) 317.33 (-1.86%).

The 10 YR yield closed Monday at 3.590 (+0.34%) and the VIX at 22.42 (-0.88%). The 10 YR is currently at 3.690 and VIX is at 22.53 (+0.49%).

Fears that the Federal Reserve could tip the economy into a recession plague investors. Last week, the central bank raised its benchmark interest rate by 50 basis points and policymakers indicated the terminal rate could rise as high as 5.1%.

Nike is set to report after the bell.

Leaders in Congress released a $1.7 trillion bill to fund the government and avoid a shutdown that would begin this weekend. The measure, which is the last big bit of business lawmakers will likely conduct before Republicans take over the House in the new year, is expected to pass with more bipartisan support in the Senate. The bill also includes more aid for Ukraine as Russia continues its aerial assault across the country. It does not, however, include an expansion of the child tax credit or immigration provisions, as Democrats had hoped for. Lawmakers also included tighter laws intended to prevent another insurrection like the pro-Trump Capitol invasion on Jan. 6, 2021. That move came on the heels of the Jan. 6 committee officially referring the former president to the Justice Department for prosecution.

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

The national average price of gasoline is down 1.9 cents at $3.123 per gallon.

Earnings Reports

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

Walgreens (WBA) will report earnings on 1/5/22 before the market open.

JPMorgan (JPM) will report earnings on 1/13/22 before the market open.

UnitedHealth (UNH)) will report earnings on 1/13/22 before the market open.

Today’s Featured Dow Stock

Cisco (CSCO)

Cisco (CSCO) 47.40 (-0.86%) is down -25.20% in 2022.

Financial Calendar

08:30 AM ET Building Permits (MoM) (Nov), -3.3%
08:30 AM ET Building Permits (Nov), 1.485M, 1.512M
08:30 AM ET Housing Starts (Nov), 1.400M, 1.425M
08:30 AM ET Housing Starts (MoM) (Nov), -4.2%
08:55 AM ET Redbook (YoY), 5.9%
16:30 PM ET API Weekly Crude Oil Stock, 7.819M

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