DJIA Market Happenings For Wednesday, March 29, 2023 – Dow (DOW) 52.00 Up +5.00% 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 +241 points.

Tuesday the Dow closed down -37.83 (-0.12%) at 32,394.25.

Year-to-date the Dow is down -2.27%.

Tuesday, (15) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were led by Walgreens (WBA) 33.82 (+2.67%), Boeing (BA) 204.96 (+2.19%) and Dow (DOW) 52.91 (+1.75%).

The Dow stock losers Tuesday were led by American Express (AXP) 159.21 (-2.40%), UnitedHealth (UNH) 472.58 (-1.93%) and Merck (MRK) 105.53 (-1.31%).

The VIX closed Tuesday at 19.97 (-3.06%). The VIX is currently at 19.26 (-3.56%). The 10YR is at 3.611.

The benchmark 10-year note yield advanced to 3.60%, and the short-term 2-year rate climbed to 4.12%. Those declines come a day after both yields advanced, putting pressure on the broader stock market.

The Federal Reserve’s Vice Chair of Supervision Michael Barr will make another appearance in Washington on Wednesday, this time before the House Financial Services Committee. This hearing will address federal regulators’ response to recent bank failures.

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

The national average price of gasoline is up +2.6 cents at $3.461 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) reported earnings on 3/28/23 before the market open with $1.16, beating estimates of $1.099 per share.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 52.00 (+0.42%) is up +5.00% in 2023.

Financial Calendar

07:00 AM ET MBA Mortgage Applications (WoW), 3.0%
07:00 AM ET MBA Purchase Index, 169.3
07:00 AM ET Mortgage Market Index, 221.0
07:00 AM ET Mortgage Refinance Index, 481.3
10:00 AM ET Fed Barr Testimony
10:00 AM ET Pending Home Sales (MoM) (Feb), -2.3%, 8.1%
10:00 AM ET Pending Home Sales Index (Feb), 82.5
10:30 AM ET Crude Oil Inventories, 0.092M, 1.117M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.022M
10:30 AM ET Crude Oil Imports, 0.051M
10:30 AM ET Cushing Crude Oil Inventories, -1.063M
10:30 AM ET Distillate Fuel Production, 0.075M
10:30 AM ET EIA Weekly Distillates Stocks, -1.455M, -3.313M
10:30 AM ET Gasoline Production, 0.392M
10:30 AM ET Heating Oil Stockpiles, 0.578M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 0.6% 0.4%
10:30 AM ET Gasoline Inventories, -1.617M, -6.400M
13:00 PM ET 7-Year Note Auction, 4.062%

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