The Dow Market Happenings For Monday, June 26, 2023 – Verizon (VZ) 35.51 Up +9.87% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 186.68 (-0.17%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open down -22 points.

Friday the Dow closed down -219.28 (-0.65%) at 33,727.43.

Year-to-date the Dow is up +1.75%.

Friday, (4) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Friday were led by Intel (INTC) 33.00 (+0.89%), Merck (MRK) 114.60 (+0.77%) and Visa (V) 229.55 (+0.51%).

The Dow stock losers Friday were led by Cisco (CSCO) 50.33 (-1.55%), Walgreens (WBA) 31.40 (-1.54%) and Goldman Sachs (GS) 314.71 (-1.52%).

The VIX closed Friday at 13.44 (+4.11%) and the 10 YR at 3.733 (-1.56%). The VIX is currently at 14.21 (+5.73%). The 10YR is at 3.704 (-0.86%).

Data points on tap this week that will help to shape the path of markets include consumer confidence and new home sales on Tuesday, along with pending home sales and a third read on first-quarter GDP on Thursday.

The Supreme Court will wrap up a flurry of opinions in the coming days. It could decide two massive cases as soon as Tuesday. The top U.S. court will rule on the fate of President Joe Biden’s plan to forgive up to $20,000 per borrower in student debt, an outcome that will affect as many as 40 million Americans. The opinion will affect budgeting and financial planning for households across the country, along with their potential to spend on goods and services. The Supreme Court will also decide whether colleges can consider race as part of admissions decisions. The affirmative action ruling could change years of efforts by universities to make their student bodies better reflect the racial makeup of the country.

Tuesday we get earnings from Walgreens (WBA) before the open and Nike (NKE) after the close Thursday.

Last week the Dow fell 1.67%, breaking a three-week winning streak. Hope we change the direction this week.

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

The national average price of gasoline is down one-tenth of a cent at $3.573 per gallon.

Earnings Reports

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

Nike (NKE) reports earnings on 6/29/2023 after the market close.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 35.51 (-0.95%)%) is up +9.87% in 2023.

Financial Calendar

10:30 AM ET Dallas Fed Mfg Business Index (Jun), -26.5, -29.1
11:30 AM ET 3-Month Bill Auction, 5.130%
11:30 AM ET 6-Month Bill Auction, 5.170%
13:00 PM ET 2-Year Note Auction, 4.300%

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