DJIA Market Happenings For Wednesday, September 20, 2023 – Verizon (VZ) 33.40 Down -15.22% 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 +124 point.

Tuesday the Dow closed down -106.57 (-0.31%) at 34,517.73.

Year-to-date the Dow is up +4.13%.

Tuesday, (7) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Tuesday were IBM (IBM) 146.52 (+0.99%), Apple (AAPL) 179.07 (+0.62%) and Honeywell (HON) 195.35 (+0.46%).

The Dow stock losers Tuesday were led by Intel (INTC) 36.34 (-4.34%), Disney (DIS) 81.94 (-3.62%) and UnitedHealth (UNH) 480.66 (-0.93%).

The VIX closed Tuesday at 14.11 (+0.79%) and the 10 YR at 4.361 (+1.09%). The VIX is currently at 13.78 (-2.34%). The 10YR is at 4.325 (-0.78%).

Today we get the FOMC meeting results at 11 am PST. The Fed is widely expected to hold rates steady but investors will be paying close attention to the summary of economic projections and the press conference of Fed chair Jerome Powell for clues as to whether the central bank will hike one more time this year.

Crude oil prices declined slightly after topping $92 on Tuesday, which raised concerns higher energy prices would rekindle inflationary forces and slow the global economy.

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

The national average price of gasoline is down five-tenths of a cent at $3.875 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 33.40 (-0.39%) is down -15.22% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 7.27%
07:00 AM ET MBA Mortgage Applications (WoW), -0.8%
07:00 AM ET MBA Purchase Index, 143.7
07:00 AM ET Mortgage Market Index, 182.2
07:00 AM ET Mortgage Refinance Index, 367.0
10:30 AM ET Crude Oil Inventories, -2.667M, 3.954M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.177M
10:30 AM ET Crude Oil Imports, 2.654M
10:30 AM ET Cushing Crude Oil Inventories, -2.450M
10:30 AM ET Distillate Fuel Production, -0.006M
10:30 AM ET EIA Weekly Distillates Stocks, -0.667M, 3.931M
10:30 AM ET Gasoline Production, -0.576M
10:30 AM ET Heating Oil Stockpiles, 0.113M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 0.6%
10:30 AM ET Gasoline Inventories, -0.467M, 5.560M
14:00 PM ET Interest Rate Projection – 1st Yr (Q3), 4.6%
14:00 PM ET Interest Rate Projection – 2nd Yr (Q3), 3.4%
14:00 PM ET Interest Rate Projection – 3rd Yr (Q3), 3.1%
14:00 PM ET Interest Rate Projection – Current (Q3), 5.6%
14:00 PM ET Interest Rate Projection – Longer (Q3), 2.5%
14:00 PM ET FOMC Economic Projections
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 5.50%, 5.50%
14:30 PM ET FOMC Press Conference

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