DJIA Market Happenings For Wednesday, March 15, 2023 – American Express (AXP) 163.91 Up +10.94% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include 3M (MMM) 102.78 (-0.70%).

The Market

Premarket today, the Dow was indicated to open down -598 points.

Tuesday the Dow closed up +336.26 (+1.06%) at 32,155.40.

Year-to-date the Dow is down -2.99%.

Tuesday, (22) Dow stocks were up, (1) was at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Salesforce (CRM) 182.89 (+4.20%), American Express (AXP) 163.91 (+3.98%) and.

The Dow stock losers Tuesday were led by AMgen (AMGN) 230.58 (-1.12%), Walgreens (WBA) 33.29 (-0.83%) and IBM (IBM) 124.65 (-0.74%).

The VIX closed Tuesday at 23.79 (-10.52%). The VIX is currently at 27.80 (+17.50%). The 10YR is at 3.445.

Stock futures fell on Wednesday as pressure on the financial sector increased with shares of Credit Suisse, a Swiss Bank that has large U.S. and global operations, tumbling more than 25%.

The producer price index posted an unexpected decline of 0.1% in February from the prior month, cooling despite economists estimating a 0.3% increase from January. Retail sales also fell 0.4% in February from January, in line with economists expectations.

West Texas Intermediate crude oil reversed course in early trading Wednesday, falling as low as $69.76 a barrel, the lowest since shortly before Christmas of 2021. WTI is now down about 4.6% week-to-date and on pace for its fourth weekly decline in five weeks.

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

The national average price of gasoline is unchanged 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

American Express (AXP)

American Express (AXP) 163.91 (+3.98%) is up +10.94% in 2023.

Financial Calendar

05:00 AM ET IEA Monthly Report
07:00 AM ET MBA 30-Year Mortgage Rate, 6.79%
07:00 AM ET MBA Mortgage Applications (WoW), 7.4%
07:00 AM ET MBA Purchase Index, 154.4
07:00 AM ET Mortgage Market Index, 201.5
07:00 AM ET Mortgage Refinance Index, 437.9
08:30 AM ET Core PPI (MoM) (Feb), 0.4%, 0.5%
08:30 AM ET Core PPI (YoY) (Feb), 5.2%, 5.4%
08:30 AM ET Core Retail Sales (MoM) (Feb), -0.1%, 2.3%
08:30 AM ET NY Empire State Manufacturing Index (Mar), -8.00, -5.80
08:30 AM ET PPI (YoY) (Feb), 5.4%, 6.0%
08:30 AM ET PPI (MoM) (Feb), 0.3%, 0.7%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Feb), 4.5%
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Feb), 0.6%
08:30 AM ET Retail Control (MoM) (Feb), -0.3%, 1.7%
08:30 AM ET Retail Sales (YoY) (Feb), 6.38%
08:30 AM ET Retail Sales (MoM) (Feb), -0.3%, 3.0%
08:30 AM ET Retail Sales Ex Gas/Autos (MoM) (Feb), 2.6%
10:00 AM ET Business Inventories (MoM) (Jan), 0.1%, 0.3%
10:00 AM ET NAHB Housing Market Index (Mar), 40, 42
10:00 AM ET Retail Inventories Ex Auto (Jan), 0.2%, 0.2%
10:30 AM ET Crude Oil Inventories, 1.188M, -1.694M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.012M
10:30 AM ET Crude Oil Imports, 2.330M
10:30 AM ET Cushing Crude Oil Inventories, -0.890M
10:30 AM ET Distillate Fuel Production, -0.084M
10:30 AM ET EIA Weekly Distillates Stocks, -1.172M, 0.138M
10:30 AM ET Gasoline Production, -0.173M
10:30 AM ET Heating Oil Stockpiles, -0.650M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 0.3% 0.2%
10:30 AM ET Gasoline Inventories, -1.820M, -1.134M
16:00 AM ET US Foreign Buying, T-bonds (Jan), 20.00B
16:00 AM ET Overall Net Capital Flow (Jan), 28.60B
16:00 AM ET TIC Net Long-Term Transactions (Jan), 152.8B
16:00 AM ET TIC Net Long-Term Transactions including Swaps (Jan), 142.10B

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