DJIA Market Happenings For Wednesday, June 14, 2023 – Merck (MRK) 109.99 Down -0.87% 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 -68 points.

Tuesday the Dow closed up +145.79 (+0.43%) at 34,212.12.

Year-to-date the Dow is up +3.21%.

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

The Dow stock winners Tuesday were led by Caterpillar (CAT) 245.44 (+3.17%), Dow (DOW) 53.14 (+2.59%) and Intel (INTC) 33.91 (+2.54%).

The Dow stock losers Tuesday were led by Salesforce (CRM) 208.98 (-2.20%), Visa (V) 223.40 (-1.22%) and Boeing (BA) 220.38 (-0.53%).

The VIX closed Tuesday at 14.61 (-2.66%) and the 10 YR at 3.811 (+1.44%). The VIX is currently at 14.60 (-2.73%). The 10YR is at 3.689 (-1.81%).

Wholesale prices fell even more than expected in May, providing another sign that inflation pressures are beginning to ease in the U.S. economy, the Labor Department reported Wednesday. The producer price index declined 0.3% for the month, more than the expected 0.1% decline. Prices for final demand goods slid 1.6%, accounting for the bulk of the headline decrease. That drop in goods prices in turn can be traced to a 13.8% tumble in the gasoline index. Excluding food and energy, PPI rose 0.2%, in line with the estimate. Excluding food, energy and trade services, the index was flat.

United Health (UNH) shares sank nearly 6% following comments this week by United Health chief financial officer John Rex that there has been elevated volumes of non-urgent surgeries in the second quarter.

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

The national average price of gasoline is down one-tenth of a cent at $3.591 per gallon.

Earnings Reports

Walgreens (WBA) reports earnings on 6/27/2023 before the market open.

Today’s Featured Dow Stock

Merck (MRK)

Merck (MRK) 109.99 (+0.12%) is down -0.87% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.81%
07:00 AM ET MBA Mortgage Applications (WoW), -1.4%
07:00 AM ET MBA Purchase Index, 151.7
07:00 AM ET Mortgage Market Index, 194.7
07:00 AM ET Mortgage Refinance Index, 409.7
08:30 AM ET Core PPI (YoY) (May), 2.9%, 3.2%
08:30 AM ET Core PPI (MoM) (May), 0.2%, 0.2%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (May), 3.4%
08:30 AM ET PPI (YoY) (May), 1.5%, 2.3%
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (May), 0.2%
08:30 AM ET PPI (MoM) (May), -0.1%, 0.2%
10:30 AM ET Crude Oil Inventories, 1.482M, -0.451M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.482M
10:30 AM ET Crude Oil Imports, -0.782M, 1.623M
10:30 AM ET Cushing Crude Oil Inventories, 0.922M, 1.721M
10:30 AM ET Distillate Fuel Production, 0.002M, 0.203M
10:30 AM ET EIA Weekly Distillates Stocks, 0.922M, 5.075M
10:30 AM ET Gasoline Production, -0.043M, 0.094M
10:30 AM ET Heating Oil Stockpiles, 0.100M, -0.362M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 2.7%
10:30 AM ET Gasoline Inventories, 0.637M, 2.746M
12:00 PM ET Thomson Reuters IPSOS PCSI (Jun), 52.47
14:00 PM ET Interest Rate Projection – 1st Yr (Q2), 4.3%
14:00 PM ET Interest Rate Projection – 2nd Yr (Q2), 3.1%
14:00 PM ET Interest Rate Projection – Current (Q2), 5.1%
14:00 PM ET Interest Rate Projection – Longer (Q2), 2.5%
14:00 PM ET FOMC Economic Projections
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 5.25%, 5.25%
14:30 PM ET FOMC Press Conference

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