DJIA Market Happenings For Friday, March 31, 2023 – Home Depot (HD) 285.36 Down -9.66% 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 +112 points.

Thursday the Dow closed up +141.43 (+0.43%) at 32,859.03.

Year-to-date the Dow is down -0.87%.

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

The Dow stock winners Thursday were led by Intel (INTC) 32.09 (+1.81%), Boeing (BA) 211.04 (+1.48%) and Walgreens (WBA) 34.63 (+1.41%).

The Dow stock losers Thursday were led by American Express (AXP) 162.41 (-0.72%), Visa (V) 222.36 (-0.42%) and 3M (MMM) 102.78 (-0.40%).

The VIX closed Thursday at 19.02 (-0.52%). The VIX is currently at 19.06 (+0.21%). The 10YR is at 3.530.

The first quarter of 2023 ends today.

Futures got a boost after an inflation gauge followed by the Federal Reserve came in lighter than expected. The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, the Commerce Department reported Friday. That was below the 0.4% Dow Jones estimate and lower than the January increase.

Emergency borrowing at the Federal Reserve’s discount window fell last week, raising some hope that the banking crisis could be receding. Primary credit lending totaled $88.2 billion while banks took out $64.4 billion through the Fed’s new Bank Term Funding Program, according to Fed data released Thursday that covered the period from March 22-29. That total of $152.6 billion was down slightly from $164 billion the week before. The Fed instituted the BTFP and relaxed rules on the discount window following the implosion of Silicon Valley Bank and Signature Bank in early March. Banks generally don’t like the use the discount window as it signals that they are under stress and can’t raise capital in the private marketplace.

Donald Trump, the former president and reality TV star, was indicted by a grand jury in his native city of New York. It marks the first time a former U.S. president has been charged with a crime. It wasn’t immediately clear how many charges Trump will face in a case brought by Manhattan District Attorney Alvin Bragg, as the indictment remained under seal.

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

The national average price of gasoline is up +1.3 cents at $3.501 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

Home Depot (HD)

Home Depot (HD) 285.36 (+0.71%) is down -9.66% in 2023.

Financial Calendar

08:30 AM ET Core PCE Price Index (MoM) (Feb), 0.4%, 0.6%
08:30 AM ET Core PCE Price Index (YoY) (Feb), 4.7%, 4.7%
08:30 AM ET PCE price index (MoM) (Feb), 0.6%
08:30 AM ET PCE Price index (YoY) (Feb), 5.4%
08:30 AM ET Personal Income (MoM) (Feb), 0.2%, 0.6%
08:30 AM ET Personal Spending (MoM) (Feb), 0.3%, 1.8%
08:30 AM ET Real Personal Consumption (MoM) (Feb), 1.1%
09:45 AM ET Chicago PMI (Mar), 43.4, 43.6
10:00 AM ET Michigan 5-Year Inflation Expectations (Mar), 2.80%, 2.90%
10:00 AM ET Michigan Consumer Expectations (Mar), 61.5, 64.7
10:00 AM ET Michigan Consumer Sentiment (Mar), 63.2, 63.4
10:00 AM ET Michigan Current Conditions (Mar), 66.4, 70.7
10:00 AM ET Michigan Inflation Expectations (Mar), 3.8%, 4.1%
12:05 PM ET Dallas Fed PCE (Feb), 6.30%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 593
13:00 PM ET U.S. Baker Hughes Total Rig Count, 758
15:05 PM ET FOMC Member Williams Speaks
16:30 PM ET CFTC Aluminium speculative net positions, 5.6K
16:30 PM ET CFTC Copper speculative net positions, -12.4K
16:30 PM ET CFTC Corn speculative net positions, 59.5K
16:30 PM ET CFTC Crude Oil speculative net positions, 154.3K
16:30 PM ET CFTC Gold speculative net positions, 158.6K
16:30 PM ET CFTC Nasdaq 100 speculative net positions, -5.1K
16:30 PM ET CFTC Natural Gas speculative net positions, -144.7K
16:30 PM ET CFTC S&P 500 speculative net positions, -202.5K
16:30 PM ET CFTC Silver speculative net positions, 3.5K
16:30 PM ET CFTC Soybeans speculative net positions, 171.8K
16:30 PM ET CFTC Wheat speculative net positions, -59.2K
17:45 PM ET Fed Governor Cook Speaks

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