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 -278 points.

Wednesday the Dow closed down -129.83 (-0.38%) at 34,288.64.

Year-to-date the Dow is up +3.44%.

Wednesday, (18) Dow stocks were up, none were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Wednesday were led by Boeing (BA) 213.31 (+1.13%), Salesforce (CRM) 213.82 (+1.03%) and Walgreens (WBA) 29.26 (+0.83%).

The Dow stock losers Wednesday were led by Intel (INTC) 32.51 (-3.30%), 3M (MMM) 98.63 (-2.48%) and Goldman Sachs (GS) 320.05 (-2.01%).

The VIX closed Wednesday at 14.18 (+3.50%) and the 10 YR at 3.944 (+0.15%). The VIX is currently at 15.53 (+9.52%). The 10YR is at 4.033 (+2.41%).

ADP’s June National Employment Report exploded in June, with job growth totaling 497,000 on the month. The total was more than double the 220,000 Dow Jones estimate and was boosted by growth of 232,000 in the pivotal leisure and hospitality sector. Construction added 97,000 while trade, transportation and utilities grew by 90,000. ADP’s report offers a preview of Friday’s June payrolls report from the Labor Department.

The Labor Department’s first-time claims for unemployment assistance rose to 248,000 vs. 239,000 in the previous week.

Later this morning the Labor Department’s JOLTS report is expected to show that job openings fell to 9.9 million for May vs. April’s 10.103 million.

Initial jobless claims increased to 248,000 last week, though the total was only 3,000 higher than the Dow Jones estimate, the Labor Department reported Thursday. The number represented a rise of 12,000 from the previous week. Continuing claims edged lower to 1.72 million, as both numbers pointed to a resilient labor market despite the Federal Reserve’s rate-hiking campaign.

The U.S. trade deficit fell to $69 billion in May, just above the estimate.

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

The national average price of gasoline is down seven-tenths of a cent at $3.522 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.

JPMorgan (JPM) reports earnings on 7/14/2023 before the market open.

UnitedHealth (UNH) reports earnings on 7/14/2023 before the market open.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 244.83 (-1.01%) is up +2.20% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.75%
07:00 AM ET MBA Mortgage Applications (WoW), 3.0%
07:00 AM ET MBA Purchase Index, 170.3
07:00 AM ET Mortgage Market Index, 216.1
07:00 AM ET Mortgage Refinance Index, 439.2
07:30 AM ET Challenger Job Cuts (Jun), 80.089K
07:30 AM ET Challenger Job Cuts (YoY), 248.6%, 286.7%
08:15 AM ET ADP Nonfarm Employment Change (Jun), 228K, 278K
08:30 AM ET Continuing Jobless Claims, 1,745K, 1,742K
08:30 AM ET Exports, 249.00B
08:30 AM ET Imports, 323.60B
08:30 AM ET Initial Jobless Claims, 245K, 239K
08:30 AM ET Jobless Claims 4-Week Avg., 256.64K, 257.50k
08:30 AM ET Trade Balance (May), -69.00B, -74.60B
08:45 AM ET Fed Logan Speaks
09:45 AM ET S&P Global Composite PMI (Jun), 53.0, 54.3
09:45 AM ET Services PMI (Jun), 54.1, 54.9
10:00 AM ET IBD/TIPP Economic Optimism, 45.3, 41.7
10:00 AM ET ISM Non-Manufacturing Business Activity (Jun), 51.9, 51.5
10:00 AM ET ISM Non-Manufacturing Employment (Jun), 49.9, 49.2
10:00 AM ET ISM Non-Manufacturing New Orders (Jun), 55.9, 52.9
10:00 AM ET ISM Non-Manufacturing PMI (Jun), 51.0, 50.3
10:00 AM ET ISM Non-Manufacturing Prices (Jun), 53.3, 56.2
10:00 AM ET JOLTs Job Openings (May), 9.935M, 10.103M
10:30 AM ET Natural Gas Storage, 76B
11:00 AM ET Crude Oil Inventories, -0.983M, -9.603M
11:00 AM ET EIA Refinery Crude Runs (WoW), -0.216M
11:00 AM ET Crude Oil Imports, 2.054M, -0.376M
11:00 AM ET Cushing Crude Oil Inventories, -0.307M, 1.209M
11:00 AM ET Distillate Fuel Production, -0.006M, -0.368M
11:00 AM ET EIA Weekly Distillates Stocks, 0.296M, 0.124M
11:00 AM ET Gasoline Production, -0.004M, 0.298M
11:00 AM ET Heating Oil Stockpiles, 0.371M, -0.529M
11:00 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.9%
11:00 AM ET Gasoline Inventories, -1.417M, 0.603M
11:30 AM ET 4-Week Bill Auction, 5.085%
11:30 AM ET 8-Week Bill Auction, 5.190%