Dow stocks hitting 52-week highs include Apple (AAPL) 189.59 (+0.18%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +205 points.

Thursday the Dow closed up +269.76 (+0.80%) at 34,122.42.

Year-to-date the Dow is up +2.94%.

Thursday, (22) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Thursday were led by JPMorgan (JPM) 143.43 (+3.49%), Goldman Sachs (GS) 323.09 (+3.01%) and Visa (V) 234.32 (+2.79%).

The Dow stock losers Thursday were led by Walgreens (WBA) 28.37 (-2.44%), Intel (INTC) 32.91 (-1.97%) and Coca Cola (KO) 60.02 (-0.83%).

The VIX closed Thursday at 13.54 (+0.82%) and the 10 YR at 3.835 (-0.29%). The VIX is currently at 13.31 (-1.70%). The 10YR is at 3.824 (-0.57%).

Apple (AAPL) shares rose more than 1% before the bell to trade above a $3 trillion market cap and Nike (NKE) shares fell about 3% after the apparel giant reported a weaker-than-expected quarterly profit.

The May core personal consumption expenditures price index, a closely watched gauge by the Federal Reserve, rose less than expected in May. Core PCE increased 4.6% from a year ago, below the 4.7% expected by economists. When including the volatile food and energy components, inflation was considerably softer, up just 0.1% on the month and 3.8% from a year ago. Those were down respectively from the 0.4% and 4.3% increases reported for April.

The Supreme Court ends its term Friday, with the fate of President Joe Biden’s student loan forgiveness plan left to be decided. Borrowers have been eager to hear whether the program, which would cancel up to $20,000 in student debt for millions of Americans, will be allowed to stand. The highest court is weighing two challenges, one brought by six GOP-led states and another from the Job Creators Network Foundation, a conservative advocacy organization. On Thursday, the majority-conservative Supreme Court struck down affirmative action admissions policies at Harvard University and the University of North Carolina, deeming the practice unconstitutional.

It’s a holder’s housing market. With the 30-year fixed mortgage rate back above 7% as of Thursday, homeowners have little incentive to sell, which is squeezing inventories. New listings were down 29% in the last week of June from the same period a year earlier, according to Realtor.com. In the last week, the number of homes for sale fell below year-ago inventory levels for the first time in more than a year. The dearth of inventory is fueling bidding wars and propping up prices.

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

The national average price of gasoline is down six-tenths of a cent at $3.543 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) reported earnings on 6/29/2023 after the market close with $0.66, missing estimates of $0.672 per share.

Today’s Featured Dow Stock

Amgen (AMGN)

Amgen (AMGN) 221.16 (-0.07%) is down -15.79% in 2023.

Financial Calendar

08:30 AM ET Core PCE Price Index (MoM) (May), 0.4%, 0.4%
08:30 AM ET Core PCE Price Index (YoY) (May), 4.7%, 4.7%
08:30 AM ET PCE Price index (YoY) (May), 4.6%, 4.4%
08:30 AM ET PCE price index (MoM) (May), 0.5%, 0.4%
08:30 AM ET Personal Income (MoM) (May), 0.3%, 0.4%
08:30 AM ET Personal Spending (MoM) (May), 0.2%, 0.8%
08:30 AM ET Real Personal Consumption (MoM) (May), 0.0%, 0.5%
09:45 AM ET Chicago PMI (Jun), 44.0, 40.4
10:00 AM ET Michigan 5-Year Inflation Expectations (Jun), 3.0%, 3.1%
10:00 AM ET Michigan Consumer Expectations (Jun), 61.3, 55.4
10:00 AM ET Michigan Consumer Sentiment (Jun), 63.9, 59.2
10:00 AM ET Michigan Current Conditions (Jun), 68.0, 64.9
10:00 AM ET Michigan Inflation Expectations (Jun), 3.3%, 4.2%
11:00 AM ET Dallas Fed PCE (May), 4.40%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 546
13:00 PM ET U.S. Baker Hughes Total Rig Count, 682
16:30 PM ET CFTC Aluminium speculative net positions, 6.0K
16:30 PM ET CFTC Copper speculative net positions, 1.9K
16:30 PM ET CFTC Corn speculative net positions, 118.8K
16:30 PM ET CFTC Crude Oil speculative net positions, 166.5K
16:30 PM ET CFTC Gold speculative net positions, 163.0K
16:30 PM ET CFTC Nasdaq 100 speculative net positions, 16.0K
16:30 PM ET CFTC Natural Gas speculative net positions, -109.3K
16:30 PM ET CFTC S&P 500 speculative net positions, -239.3K
16:30 PM ET CFTC Silver speculative net positions, 20.1K
16:30 PM ET CFTC Soybeans speculative net positions, 88.5K
16:30 PM ET CFTC Wheat speculative net positions, -66.4K