DJIA Market Happenings For Thursday, April 13, 2023 – 3M (MMM) 104.37 Down -1.30% YTD

Dow stocks hitting 52-week highs include McDonald’s (MCD) 285.30 (+0.29%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +69 points.

Wednesday the Dow closed down -38.29 (-0.11%) at 33,646.50.

Year-to-date the Dow is up +1.51%.

Wednesday, (18) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by Dow (DOW) 56.89 (+1.25%), Merck (MRK) 113.75 (+1.12%) and Goldman Sachs (GS) 330.24 (+0.88%).

The Dow stock losers Wednesday were led by Disney (DIS) 97.94 (-2.47%), Walgreens (WBA) 35.69 (-1.71%) and American Express (AXP) 159.29 (-1.57%).

The VIX closed Wednesday at 19.09 (-0.05%). The VIX is currently at 18.58 (-2.93%). The 10YR is at 3.375.

The March producer prices index, a measure of prices paid by companies and often a leading indicator of consumer inflation, declined by 0.5% month over month versus expectations for prices to be flat. Excluding food and energy, the core wholesale prices reading shed 0.1% month over month, much better than the 0.2% increase expected by economists.

Wednesday’s release of March’s consumer price index report showed headline inflation pressures eased last month. The CPI advanced just 0.1% month over month in March. Consumer prices grew 5% on an annual basis, the smallest increase in nearly two years.

Initial jobless claims came in at 239,000 for the week ending April 8, the Labor Department said Thursday. Economists were forecasting initial claims to come in at 235,000. That’s a rise from 228,000 claims in the previous week.

Merck (MRK) shares gained 1% in the premarket after being upgraded by Citi to buy from neutral, saying its drug pipeline is underappreciated. The Wall Street firm boosted the stock’s price target to $130, which implies 14% upside from Wednesday’s closing price.

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

The national average price of gasoline is up 2.4 cents at $3.645 per gallon.

Earnings Reports

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

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

Goldman Sachs (GS) reports earnings on 4/18/23 before the market open.

Johnson & Johnson (JNJ) reports earnings on 4/18/23 before the market open.

Travelers (TRV) reports earnings on 4/19/23 before the market open.

IBM (IBM) reports earnings on 4/19/23 after the market close.

American Express (AXP) reports earnings on 4/20/23 before the market open.

Procter & Gamble (PG) reports earnings on 4/21/23 before the market open.

Coca Cola (KO) reports earnings on 4/24/23 before the market open.

3M (MMM) reports earnings on 4/25/23 before the market open.

Dow (DOW) reports earnings on 4/25/23 before the market open.

Verizon (VZ) reports earnings on 4/25/23 before the market open.

Microsoft (MSFT) reports earnings on 4/25/23 after the market close.

Visa (V) reports earnings on 4/25/23 after the market close.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) 104.37 (-0.18%) is down -1.30% in 2023.

Financial Calendar

07:00 AM ET OPEC Monthly Report
08:30 AM ET Continuing Jobless Claims, 1,814K, 1,823K
08:30 AM ET Core PPI (MoM) (Mar), 0.3%, 0.0%
08:30 AM ET Core PPI (YoY) (Mar), 3.4%, 4.4%
08:30 AM ET Initial Jobless Claims, 232K, 228K
08:30 AM ET Jobless Claims 4-Week Avg., 253.17K, 237.75K
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Mar), 0.1%, 0.2%
08:30 AM ET PPI (MoM) (Mar), 0.1%, -0.1%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Mar), 3.1%, 4.4%
08:30 AM ET PPI (YoY) (Mar), 3.0%, 4.6%
10:30 AM ET Natural Gas Storage, 28B, -23B
11:00 AM ET IMF Meetings
11:30 AM ET 4-Week Bill Auction, 4.440%
11:30 AM ET 8-Week Bill Auction, 4.650%
13:00 PM ET 30-Year Bond Auction, 3.877%

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