DJIA Market Happenings For Thursday, June 29, 2023 – Apple (AAPL) 189.25 Up +45.66% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 189.25 (+0.63%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +4 points.

Wednesday the Dow closed down -74.08 (-0.22%) at 33,852.66.

Year-to-date the Dow is up +2.35%.

Tuesday, (23) Dow stocks were up, (1) was at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by Salesforce (CRM) 212.17 (+1.60%), Walgreens (WBA) 29.08 (+1.54%) and American Express (AXP) 169.78 (+0.95%).

The Dow stock losers Wednesday were led by Travelers (TRV) 168.37 (-2.45%), Home Depot (HD) 306.51 (-2.30%) and UnitedHealth (UNH) 474.45 (-1.68%).

The VIX closed Wednesday at 13.43 (-2.26%) and the 10 YR at 3.745 (+0.94%). The VIX is currently at 13.61 (+1.34%). The 10YR is at 3.833 (+3.32%).

The Dow is looking to be higher this morning even after Federal Reserve Chairman Jerome Powell again warned that tighter monetary policy was on the way. That may include rate hikes at consecutive Fed policy-setting meetings after the central bank hit pause in June. Still, equities are on track to finish the first half of the year on a high note.

Bank stocks got a boost in the premarket after the country’s biggest lenders passed the Federal Reserve’s annual stress test. JPMorgan (JPM) gained 1% in the premarket. The Fed said Wednesday that all 23 banks included in the annual assessment are well capitalized to weather a severe recession scenario. This year’s stress test comes after a slew of bank collapses sent shockwaves through the industry.

First-quarter GDP was revised sharply higher to 2.0% growth from 1.3%, according to the Commerce Department.

Weekly jobless claims fell to 239,000, the lowest level since May. Economists surveyed were expecting 264,000 claims.

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

The national average price of gasoline is down seven-tenths of a cent at $3.549 per gallon.

Earnings Reports

Walgreens (WBA) reported earnings on 6/27/2023 before the market open with $1.00, missing estimates of $1.069 per share.

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

Today’s Featured Dow Stock

Apple (AAPL)

Apple (AAPL) 189.25 (+0.63%) is up +45.66% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,765K, 1,759K
08:30 AM ET Core PCE Prices (Q1), 5.00%, 4.40%
08:30 AM ET Corporate Profits (QoQ) (Q1), -6.8%, -2.7%
08:30 AM ET GDP (QoQ) (Q1), 1.4%, 2.6%
08:30 AM ET GDP Price Index (QoQ) (Q1), 4.2%, 3.9%
08:30 AM ET GDP Sales (Q1), 3.5%, 1.1%
08:30 AM ET Initial Jobless Claims, 266K, 264K
08:30 AM ET Jobless Claims 4-Week Avg., 251.27K, 255.75K
08:30 AM ET PCE Prices (Q1), 4.2%, 3.7%
08:30 AM ET Real Consumer Spending (Q1), 1.0%
10:00 AM ET Pending Home Sales (MoM) (May), 0.2%, 0.0%
10:00 AM ET Pending Home Sales Index (May), 78.9
10:30 AM ET Natural Gas Storage, 83B, 95B
11:30 AM ET 4-Week Bill Auction, 5.010%
11:30 AM ET 8-Week Bill Auction, 5.140%
15:00 PM ET FOMC Member Bostic Speaks

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