DJIA Market Happenings For Tuesday, April 4, 2023 – IBM (IBM) 132.06 Down -6.27% YTD

Dow stocks hitting 52-week highs include McDonald’s (MCD) 282.14 (+0.90%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +45 points.

Monday the Dow closed up +327.00 (+0.98%) at 33,601.15.

Year-to-date the Dow is up +1.37%.

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

The Dow stock winners Monday were led by UnitedHealth (UNH) 494.19 (+4.57%), Chevron (CVX) 169.95 (+4.16%) and Walgreens (WBA) 35.46 (+2.54%).

The Dow stock losers Monday were led by Salesforce (CRM) 196.49 (-1.65%), Nike (NKE) 121.67 (-0.79%) and American Express (AXP) 163.78 (-0.71%).

The VIX closed Monday at 18.55 (-0.80). The VIX is currently at 18.90 (+1.89%). The 10YR is at 3.462.

Today we get the latest number from the monthly Job Openings and Labor Turnover Survey, or JOLTS, at 10 a.m. ET.

Boeing (BA) stock dropped 0.8% after Northcoast Research downgraded shares to a sell rating. The research firm cited expected changes to commercial aircraft production, resetting of consensus forecasts and volume headwinds ahead for Boeing this quarter after communicating with its contacts in the sector.

U.S. Treasury Secretary Janet Yellen said the banking crisis is “stabilizing” and regulators are prepared to act again to protect deposits if necessary. Yellen also pushed back against criticism toward the Financial Stability Oversight Council, which some GOP members have blamed for not identifying the banking crisis earlier. She said the crisis itself only afflicted “a couple of banks” which were extraordinarily exposed to the threat of runs. “I don’t think there’s a fundamental problem with the banking system,” Yellen added.

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

The national average price of gasoline is up one-tenth of a cent at $3.507 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

IBM (IBM)

IBM (IBM) 132.06 (+0.74%) is down -6.27% in 2023.

Financial Calendar

08:55 AM ET Redbook (YoY), 2.8%
10:00 AM ET Durables Excluding Defense (MoM) (Feb), -0.5%
10:00 AM ET Durables Excluding Transport (MoM) (Feb), 0.7%
10:00 AM ET Factory Orders (MoM) (Feb), -0.5%, -1.6%
10:00 AM ET Factory orders ex transportation (MoM) (Feb), 1.2%
10:00 AM ET IBD/TIPP Economic Optimism, 46.9
10:00 AM ET JOLTs Job Openings (Feb), 10.400M, 10.824M
13:30 PM ET Fed Governor Cook Speaks
13:30 PM ET FOMC Member Rosengren Speaks
16:30 PM ET API Weekly Crude Oil Stock, -6.076M

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