The Dow Market Happenings For Monday, April 3, 2023 – Honeywell (HON) 191.12 Down -10.82% 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 +105 points.

Friday the Dow closed up +415.12 (+1.26%) at 33,274.15.

Year-to-date the Dow is up +0.38%.

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

The Dow stock winners Friday were led by Home Depot (HD) 295.12 (+3.42%), 3M (MMM) 105.11 (+2.27%), Nike (NKE) 122.64 (+2.11%), Disney (DIS) 100.13 (+2.07%) and Caterpillar (CAT) 228.84 (+1.92%).

The Dow stock loser Friday was Walgreens (WBA) 34.58 (-0.14%).

The VIX closed Friday at 18.70 (-1.68%). The VIX is currently at 19.56 (+4.60%). The 10YR is at 3.498.

U.S. stock markets will only be open four days this week, with exchanges closed Good Friday. This week brings new data points to chew over, including job openings and ADP private payrolls. On Friday, even though the market is closed, the government will release its hotly anticipated March jobs report.

Oil prices jumped Monday after a group of major oil producers led by the Saudis vowed to cut production this year. As part of the move, Saudi Arabia will reduce production itself by 500,000 barrels a day, while the United Arab Emirates will slash its daily production by 144,000 barrels. Kuwait, Oman, Iraq, Algeria and Kazakhstan will also scale back on output. The move, which is aimed at pushing prices higher, could throw a wrench into central banks’ fight against inflation. The decision by the group, known as OPEC+, also follows Russia’s decision to reduce its oil output by 500,000 barrels a day. Russia’s economy is feeling the crunch from piles of U.S. and western sanctions over its invasion of Ukraine.

McDonald’s (MCD) is preparing to layoff workers this week and will be temporarily closing its offices, according to a report from the Wall Street Journal. The fast-food giant is expected to notify employees virtually about their job status this week, according to the report.

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

The national average price of gasoline is up one-tenth of a cent at $3.506 per gallon.

Earnings Reports

JPMorgan (PM) reports earnings on 4/14/23 before the market open.

UnitedHealth (UNH) reports earnings on 4/14/23 before the market open.

Today’s Featured Dow Stock

Honeywell (HON)

Honeywell (HON) 191.12 (+1.06%) is down -10.82% in 2023.

Financial Calendar

09:45 AM ET Manufacturing PMI (Mar), 49.3, 47.3 10:00 AM ET Construction Spending (MoM) (Feb), -0.1%, -0.1% 10:00 AM ET ISM Manufacturing Employment (Mar), 49.1 10:00 AM ET ISM Manufacturing New Orders Index (Mar), 47.0 10:00 AM ET ISM Manufacturing PMI (Mar), 47.5, 47.7 10:00 AM ET ISM Manufacturing Prices (Mar), 51.3 11:30 AM ET 3-Month Bill Auction, 4.675% 11:30 AM ET 6-Month Bill Auction, 4.650% 12:05 PM ET Dallas Fed PCE (Feb), 6.30%

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