DJIA Market Happenings For Monday, September 18, 2023 – UnitedHealth (UNH) 486.70 Down -8.20% YTD

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 be up +1 point.

Friday the Dow closed down -288.87 (-0.83%) at 34,618.24.

Year-to-date the Dow is up +4.44%.

Friday, (3) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Friday were Disney (DIS) 85.58 (+1.30%), American Express (AXP) 163.75 (+1.22%) and UnitedHealth (UNH) 486.70 (+0.64%).

The Dow stock losers Friday were led by Microsoft (MSFT) 330.22 (-2.50%), Home Depot (HD) 321.40 (-2.50%) and McDonald’s (MCD) 278.23 (-2.29%).

The VIX closed Friday at 13.79 (+7.57%) and the 10 YR at 4.344 (+0.60%). The VIX is currently at 14.63 (+6.09%). The 10YR is at 4.347 (+0.67%).

Last week the Dow managed to end the week 0.1% higher.

West Texas Intermediate and Brent crude prices hit their highest levels since November on Monday. Up nearly 30% so far in the third quarter, WTI is on pace to see its biggest price gain since the first quarter of 2022. U.S. West Texas Intermediate crude gained more than 1% early Monday and hit a high of $91.70, the highest level since Nov. 8, 2022 when WTI traded as high as $92.17. So far this quarter, WTI has gained 29.8%, putting it on pace for the first positive quarter in three quarters. Brent crude futures hit a high of $94.78, also hitting its highest level since Nov. 16, 2022 when it traded as high as $94.79.

This week we get the FOMC meeting with traders believing that the Fed stays put when it releases its rate decision on Wednesday and just a 31% probability of a hike in November.

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

The national average price of gasoline is up five-tenths of a cent at $3.881 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/28/23 after the market close.

Today’s Featured Dow Stock

UnitedHealth (UNH)

UnitedHealth (UNH) 486.70 (+0.64%) is down -8.20% in 2023.

Financial Calendar

10:00 AM ET NAHB Housing Market Index (Sep), 50, 50
11:30 AM ET 3-Month Bill Auction, 5.315%
11:30 AM ET 6-Month Bill Auction, 5.300%
16:00 PM ET US Foreign Buying, T-bonds (Jul), 66.40B
16:00 PM ET Overall Net Capital Flow (Jul), 147.80B
16:00 PM ET TIC Net Long-Term Transactions (Jul), 116.5B, 195.9B
16:00 PM ET TIC Net Long-Term Transactions including Swaps (Jul), 195.90B

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