The Dow Market Happenings For Tuesday, March 14, 2023 – Amgen (AMGN) 233.18 Down -11.22% YTD – CPI Meets Expectations

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include 3M (MMM) 105.52 (-1.38%).

The Market

Premarket today, the Dow was indicated to open up +189 points.

Monday the Dow closed down -90.50 (-0.28%) at 31,819.14.

Year-to-date the Dow is down -4.01%.

Monday, (14) Dow stocks wer up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Monday were led by Amgen (AMGN) 233.18 (+2.33%), Microsoft (MSFT) 253.92 (+2.14%) and Salesforce (CRM) 175.51 (+1.35%).

The Dow stock losers Monday were led by American Express (AXP) 157.63 (-4.87%), Goldman Sachs (GS)315.51 (-3.71%) and Dow (DOW) 52.40 (-2.75%)

The VIX closed Monday at 26.52 (+6.94%). The VIX is currently at 24.60 (-7.24%). The 10YR is at 3.586.

Tuesday brings us the CPI Report and did Bidens inference that it would be good come true? It looks like it did.

The consumer price index rose 0.4% in February from January, matching the consensus estimate of economists. The annualized increase of 6% was also in line with expectations.

Futures and Banks look to be up today.

The Federal Reserve is still on track to raise its benchmark interest rate by a quarter point next week, despite the second and third-biggest bank failures in history. As of Monday, even with the turmoil in the market, especially among regional banks, traders saw an 85% probability that the rate hike would still happen as the central bank tries to cool inflation. Some think the Fed may pause at the next meeting. I wouldn’t count on that though.

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

The national average price of gasoline is down seven-tenths of a cent at $3.466 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 3/21/23 after the market close.

Walgreens (WBA) reports earnings on 3/28/23 before the market open.

Today’s Featured Dow Stock

Amgen (AMGN)

Amgen (AMGN) 233.18 (+2.33%) is down -11.22% in 2023.

Financial Calendar

07:00 AM ET OPEC Monthly Report
08:30 AM ET Core CPI (YoY) (Feb), 5.5%, 5.6%
08:30 AM ET Core CPI (MoM) (Feb), 0.4%, 0.4%
08:30 AM ET Core CPI Index (Feb), 302.70
08:30 AM ET CPI (YoY) (Feb), 6.0%, 6.4%
08:30 AM ET CPI (MoM) (Feb), 0.4%, 0.5%
08:30 AM ET CPI Index, n.s.a. (Feb), 300.86, 299.17
08:30 AM ET CPI Index, s.a (Feb), 300.54
08:30 AM ET CPI, n.s.a (MoM) (Feb), 0.80%
08:30 AM ET Real Earnings (MoM) (Feb), 0.7%
08:55 AM ET Redbook (YoY), 3.0%
11:00 AM ET Cleveland CPI (MoM) (Feb), 0.7%
16:30 PM ET API Weekly Crude Oil Stock, -3.835M
17:20 PM ET FOMC Member Bowman Speaks

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