DJIA Market Happenings For Tuesday, September 5, 2023 – JPMorgan (JPM) 146.82 Up +9.49% YTD

Dow stocks hitting 52-week highs include Cisco (CSCO) 57.84 (+0.85%). Dow stock 52-week lows include Disney (DIS) 81.64 (-2.44%) and Walgreens (WBA) 23.43 (-7.43%).

The Market

Premarket today, the Dow was indicated to be up +9 points.

Friday the Dow closed up +115.80 (+0.33%) at 34,837.71.

Year-to-date the Dow is up +5.10%.

Friday, (20) Dow stocks were up, (2) were at 52-week lows and (1) was at 52-week highs.

The Dow stock winners Friday were led by Intel (INTC) 36.61 (+4.18%), Chevron (CVX) 164.30 (+1.99%) and Caterpillar (CAT) 286.25 (+1.82%).

The Dow stock losers Friday were led by Walgreens (WBA) 23.43 (-7.43%), Disney (DIS) 81.64 (-2.44%) and Coca Cola (KO) 59.31 (-0.87%).

The VIX closed Friday at 13.09 (-3.54%) and the 10 YR at 4.170 (-0.02%). The VIX is currently at 14.23 (+8.71%). The 10YR is at 4.230 (+1.41%).

The latest U.S. nonfarm payrolls report showed the unemployment rate rose to 3.8% in August, reaching its highest level in more than a year. And, in a sign of positive short-term momentum, the major indexes broke above their respective 50-day moving averages this past week.

RBC upgrades American Express (AXP) to outperform.

Goldman Sachs cut the odds of a recession in the U.S. to just 15% from 20% prior and said the Federal Reserve may keep rates the same when in it next meets on Sept. 19-20.

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

The national average price of gasoline is down two-tenths of a cent at $3.811 per gallon.

Earnings Reports

There are no Dow stocks set to report earnings in the near term.

Today’s Featured Dow Stock

JPMorgan (JPM)

JPMorgan (JPM) 146.82 (+0.33%) is up +9.49% in 2023.

Financial Calendar

10:00 AM ET CB Employment Trends Index (Aug), 115.45
10:00 AM ET Durables Excluding Defense (MoM) (Jul), -5.4%
10:00 AM ET Durables Excluding Transport (MoM) (Jul), 0.5%
10:00 AM ET Factory Orders (MoM) (Jul), -2.5%, 2.3%
10:00 AM ET Factory orders ex transportation (MoM) (Jul), 0.2%
10:00 AM ET IBD/TIPP Economic Optimism, 41.1, 40.3
10:00 AM ET Total Vehicle Sales, 15.70M
11:30 AM ET 3-Month Bill Auction, 5.340%
11:30 AM ET 6-Month Bill Auction, 5.350%
13:00 PM ET 52-Week Bill Auction, 5.060%

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