DJIA Market Happenings For Thursday, June 8, 2023 – JPMorgan (JPM) 140.69 Up +4.91% 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 down -57 points.

Wednesday the Dow closed up +91.74 (+0.27%) at 33,665.02.

Year-to-date the Dow is up +1.56%.

Wednesday, (20) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Caterpillar (CAT) 235.55 (+3.91%), 3M (MMM) 101.00 (+2.76%) and Goldman Sachs (GS) 335.75 (+2.74%).

The Dow stock losers Wednesday were led by Salesforce (CRM) 205.73 (-3.35%), Microsoft (MSFT) 323.38 (-3.09%) and Visa (V) 225.27 (-1.29%).

The VIX closed Wednesday at 13.94 (-0.14%) and the 10 YR at 3.798 (+0.40%). The VIX is currently at 14.11 (+1.22%). The 10YR is at 3.787 (+0.11%).

New weekly jobless claims data released on Thursday showed initial jobless claims reached their highest level since October 2021, indicating a potentially softening labor market. First-time filings for unemployment benefits totaled 261,000 for the week ended June 3, up 28,000 from the previous period and well ahead of the Dow Jones estimate of 235,000, the Labor Department reported Thursday. Continuing claims fell on the week, dropping 37,000 to 1.757 million. The uptick also raised expectations the Federal Reserve would pause its rate-hiking campaign at its meeting next week.

Markets are now pricing about a 73% chance that the Fed keeps rates steady at the meeting next week.

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

The national average price of gasoline is up 1.1 cents at $3.564 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

JPMorgan (JPM)

JPMorgan (JPM) 140.69 (+0.97%) is up +4.91% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,800K, 1,795K
08:30 AM ET Initial Jobless Claims, 235K, 232K
08:30 AM ET Jobless Claims 4-Week Avg., 209.67K, 229.50K
10:00 AM ET Wholesale Inventories (MoM) (Apr), -0.2%, 0.0%
10:00 AM ET Wholesale Trade Sales (MoM) (Apr), 0.4%, -2.1%
10:30 AM ET Natural Gas Storage, 104B, 110B
11:30 AM ET 4-Week Bill Auction, 5.130%
11:30 AM ET 8-Week Bill Auction, 5.220%
16:30 AM ET Fed’s Balance Sheet, 8,386B
16:30 AM ET Reserve Balances with Federal Reserve Banks, 3.206T

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