DJIA Market Happenings For Monday, March 27, 2023 Disney (DIS) 94.08 Up +8.29% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include 3M (MMM) 101.14 (+0.14%).

The Market

Premarket today, the Dow was indicated to open up +206 points.

Friday the Dow closed up +132.28 (+0.41%) at 32,237.53.

Year-to-date the Dow is down -2.74%.

Friday, (21) 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 Amgen (AMGN)238.03 (+2.11%), Procter & Gamble (PG) 146.72 (+2.04%) and Coca Cola (KO) 60.90 (+1.64%).

The Dow stock losers Friday were led by American Express (AXP) 159.78 (-1.83%), Disney (DIS) 94.08 (–1.83%) and JPMorgan (JPM) 124.91 (-1.52%).

The VIX closed Friday at 21.74 (-3.85%). The VIX is currently at 21.40 (-1.46%). The 10YR is at 3.492.

President Joe Biden and Treasury Secretary Janet Yellen said the government stands ready to protect more bank deposits if there’s more turmoil. And while the Federal Reserve did indeed raise its benchmark rate last week, it signaled it could ease off as the banking crisis itself is poised to slow the economy. Overnight, meanwhile, the FDIC said First Citizens Bank agreed to buy $72 billion of failed Silicon Valley Bank’s assets at a steep discount of about $16.5 billion.

Caterpillar shares dropped 1.2% after Baird downgraded the machinery company to underperform, citing potential headwinds driven by a “meaningful slowdown” in new small and medium sized nonresidential projects in 2024 due to ongoing turmoil with regional bank lenders.

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

The national average price of gasoline is unchanged at $3.439 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/21/23 after the market close with $0.79, beating estimates of $0.519 per share.

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

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 94.08 (-1.83%) is up +8.29% in 2023.

Financial Calendar

10:30 AM ET Dallas Fed Mfg Business Index, -13.5
10:30 AM ET Dallas Fed Mfg Business Index (Mar), -13.5
11:30 AM ET 3-Month Bill Auction, 4.675%
11:30 AM ET 6-Month Bill Auction, 4.620%
13:00 PM ET 2-Year Note Auction, 4.673%
17:00 PM ET Fed Governor Jefferson Speaks

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