The Dow Market Happenings For Thursday, September 14, 2023 – Procter & Gamble (PG) 153.09 Up +1.01% YTD

Dow stocks hitting 52-week highs include Walmart (WMT) 164.56 (+0.02%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +188 points.

Wednesday the Dow closed down -70.46 (-0.20%) at 34,575.53.

Year-to-date the Dow is up +4.31%.

Wednesday, (14) 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 Microsoft (MSFT) 336.06 (+1.29%), Honeywell (HON) 191.59 (+1.26%) and Goldman Sachs (GS) 334.98 (+1.23%).

The Dow stock losers Wednesday were led by 3M (MMM) 101.05 (-5.70%), Caterpillar (CAT) 275.92 (-2.09%) and Dow (DOW) 52.82 (-1.51%).

The VIX closed Wednesday at 13.48 (-5.27%) and the 10 YR at 4.227 (-0.40%). The VIX is currently at 13.15 (-2.45%). The 10YR is at 4.221(-0.54%).

The August reading of the producer price index came in hotter than expected. It rose 0.7%, more than the 0.4% increase anticipated by economists. However, excluding food and energy, core PPI increased 0.2%, in line with the estimate.

Yesterday, the core CPI, which excludes food and energy, gained 0.3% from the prior month and 4.3% from 12 months earlier. That compares against estimates of 0.2% and 4.3%, respectively, according to economists. Headline inflation increased 0.6% on a monthly basis and 3.7% from the prior year, while economists had called for 0.6% and 3.6%.

WTI Crude reached a high of $90.04 Thursday morning. This marked the highest level since Nov. 11, 2022, when WTI hit a high of $90.10. This was also the last time WTI traded over $90. The last time WTI Crude settled above $90 was on Nov. 7, 2022, when WTI settled at $91.79. It is currently up almost 3% week to date, on pace for its third straight weekly gain. Brent Crude reached a high of $93.32, the highest level since Nov. 16, 2022 when it traded as high as $.94.79. Week to date, Brent is up almost 2.9%, putting it also on track for its third straight week of gains.

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

The national average price of gasoline is up 1.0 cent at $3.858 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Procter & Gamble (PG)

Procter & Gamble (PG) 153.09 (+0.70%) is up +1.01% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,693K, 1,679K
08:30 AM ET Core PPI (YoY) (Aug), 2.2%, 2.4%
08:30 AM ET Core PPI (MoM) (Aug), 0.2%, 0.3%
08:30 AM ET Core Retail Sales (MoM) (Aug), 0.4%, 1.0%
08:30 AM ET Initial Jobless Claims, 226K, 216K
08:30 AM ET Jobless Claims 4-Week Avg., 229.25K
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Aug), 2.7%
08:30 AM ET PPI (MoM) (Aug), 0.4%, 0.3%
08:30 AM ET PPI (YoY) (Aug), 1.2%, 0.8%
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Aug), 0.2%
08:30 AM ET Retail Control (MoM) (Aug), 1.0%
08:30 AM ET Retail Sales (MoM) (Aug), 0.2%, 0.7%
08:30 AM ET Retail Sales (YoY) (Aug), 3.17%
08:30 AM ET Retail Sales Ex Gas/Autos (MoM) (Aug), 0.5%, 1.0%
10:00 AM ET Business Inventories (MoM) (Jul), 0.1%, 0.0%
10:00 AM ET Retail Inventories Ex Auto (Jul), 0.1%
10:30 AM ET Natural Gas Storage, 33B
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.290%
12:00 PM ET Thomson Reuters IPSOS PCSI (Sep), 52.24
16:30 PM ET Fed’s Balance Sheet, 8,101B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.290T

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