Dow stocks hitting 52-week highs include Salesforce (CRM) 227.28 (+2.76%) and JPMorgan (JPM) 148.15 (+0.50%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +69 points.

Wednesday the Dow closed up +86.01 (+0.25%) at 34,437.43.

Year-to-date the Dow is up +3.62%.

Wednesday, (23) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Salesforce (CRM) 227.28 (+2.76%), Intel (INTC) 33.98 (+2.04%) and Goldman Sachs (GS) 326.40 (+1.72%).

The Dow stock losers Wednesday were led by Cisco (CSCO) 50.74 (-2.65%), UnitedHealth (UNH) 451.70 (-2.42%) and IBM (IBM) 132.84 (-1.19%).

The VIX closed Wednesday at 13.54 (-8.76%) and the 10 YR at 3.854 (-0.03%). The VIX is currently at 13.35 (-1.40%). The 10YR is at 3.811 (-1.14%).

The producer price index, a measure of what wholesalers pay for goods, rose 0.1% in June. Economists expected an increase of 0.2%. Core PPI, which strips out volatile food and energy prices, climbed 0.1%, also less than expected.

The Federal Trade Commission filed to appeal against a federal judge’s decision that would have helped pave the way for Microsoft (MSFT) to acquire Activision Blizzard. The FTC’s move follows a day after a federal judge in San Francisco denied the agency’s motion for a preliminary injunction to block the $68.7 billion deal. The FTC deems the acquisition to be anticompetitive, arguing that Microsoft may make some of its games exclusive to its own consoles or diminish the experience of Activision games on other services. The two companies are trying to close the transaction by July 18.

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

The national average price of gasoline is up 1.4 cents at $3.555 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.

Goldman Sachs (GS) reports earnings on 7/19/2023 before the market open.

IBM (IBM) reports earnings on 7/19/2023 after the market close.

Johnson & Johnson (JNJ) reports earnings on 7/20/2023 before the market open.

Travelers (TRV) reports earnings on 7/20/2023 before the market open.

American Express (AXP) reports earnings on 7/21/2023 before the market open.

Dow (DOW) reports earnings on 7/25/2023 before the market open.

3M (MMM) reports earnings on 7/25/2023 before the market open.

Verizon (VZ) reports earnings on 7/25/2023 before the market open.

Microsoft (MSFT) reports earnings on 7/25/2023 after the market close.

Visa (V) reports earnings on 7/19/2023 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 54.11 (+1.29%) is up +7.38% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,733K, 1,720K
08:30 AM ET Core PPI (YoY) (Jun), 2.7%, 2.8%
08:30 AM ET Core PPI (MoM) (Jun), 0.2%, 0.2%
08:30 AM ET Initial Jobless Claims, 249K, 248K
08:30 AM ET Jobless Claims 4-Week Avg., 255.39K, 253.25K
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Jun), 2.8%
08:30 AM ET PPI (MoM) (Jun), 0.2%, -0.3%
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Jun), 0.0%
08:30 AM ET PPI (YoY) (Jun), 0.4%, 1.1%
10:30 AM ET Natural Gas Storage, 57B, 72B
11:30 AM ET 4-Week Bill Auction, 5.150%
11:30 AM ET 8-Week Bill Auction, 5.200%
13:00 PM ET 30-Year Bond Auction, 3.908%
14:00 PM ET Federal Budget Balance (Jun), -90.0B, -240.0B
16:30 PM ET Fed’s Balance Sheet, 8,298B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.180T
18:45 PM ET Fed Waller Speaks