The Dow Market Happenings For Monday, March 20, 2023 – Boeing (BA) 201.05 Up +5.54% YTD

There are no Dow stocks hitting 52-week highs. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +129 points.

Friday the Dow closed down -384.57 (-1.19%) at 31,861.98.

Year-to-date the Dow is down -3.88%.

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

The Dow stock winners Friday were led by Microsoft (MSFT) 279.43 (+1.17%), Walmart (WMT) 139.40 (+0.81%) and Home Depot (HD) 288.39 (+0.58%).

The Dow stock losers Friday were led by Travelers (TRV) 165.03 (-4.17%), JPMorgan (JPM) 125.81 (-3.78%) and Goldman Sachs (GS) 303.54 (-3.67%).

The VIX closed Friday at 25.50 (+10.96%). The VIX is currently at 25.96 (+1.76%). The 10YR is at 3.414.

Swiss banking giant UBS agreed to buy its struggling rival Credit Suisse for about $3.2 billion on Sunday, in what’s become the most dramatic development yet in the banking crisis that started earlier this month. While officials stressed that the takeover was a commercial solution to Credit Suisse’s escalating problems, and not a bailout, Swiss regulators and central bankers paved the way for the deal to happen and offered billions in backup. The Swiss central bank pledged more than $100 billion to support the acquisition, while the Swiss government offered about $10 billion in specific guarantees to limit risks for UBS. The combined UBS-Credit Suisse will have about $5 trillion in invested assets.

Also this weekend the Federal Reserve also joined with five other central banks – the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the extremely busy Swiss National Bank – in what appeared to be a preemptive move to ease liquidity concerns in global markets. The Fed’s policy-setting committee is also meeting this week. Investors won’t just be looking at whether the Fed on Wednesday will raise rates another quarter point or put its war on inflation on hold. They’ll also pay keen attention to how Chairman Jerome Powell will set the agenda for the coming months.

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

The national average price of gasoline is down three-tenths of a cent at $3.443 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

Boeing (BA)

Boeing (BA) 201.05 (-1.05%) is up +5.54% in 2023.

Financial Calendar

11:30 AM ET 3-Month Bill Auction, 4.750%
11:30 AM ET 6-Month Bill Auction, 4.700%
17:30 PM ET Reserve Balances with Federal Reserve Banks, 3.004T

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