DJIA Market Happenings For Thursday, September 28, 2023 – Boeing (BA) 195.46 Up +2.61% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Disney (DIS) 79.90 (-0.19%) and Walgreens (WBA) 21.02 (-0.52%).

The Market

Premarket today, the Dow was indicated to be down -17 points.

Wednesday the Dow closed down 68.61 (-0.20%) at 33,550.27.

Year-to-date the Dow is up +1.22%.

Wednesday, (8) Dow stocks were up, (2) were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Intel (INTC) 34.61 (+2.31%), Chevron (CVX) 171..04 (+1.93%) and Caterpillar (CAT) 272.71 (+1.18%).

The Dow stock losers Wednesday were led by Verizon (VZ) 32.40 (-1.79%), McDOnald’s (MCD) 263.64 (-1.52%) and Merck (MRK) 103.94 (-1.38%).

The VIX closed Wednesday at 18.22 (-3.80%) and the 10 YR at 4.609 (-0.39%). The VIX is currently at 18.61 (+2.14%). The 10YR is at 4.644 (+0.37%).

Real gross domestic product increased 2.1% at an annualized pace in the second quarter, according to a third and final estimate the Commerce Department released Thursday. That was unchanged from the previous reading but below the Dow Jones estimate for 2.2%. However, the government revised its previous readings on GDP, cutting first quarter growth for each of the years from 2020 to 2022. The new readings, respectively, are -5.3%, 5.2% and -2%, compared to the previous -4.6%, 6.3% and -1.6%.

Initial jobless claims totaled 204,000 for the week ended Sept. 23, according to the Labor Department. That was below the estimate for 214,000. Continuing claims rose to 1.67 million, up 12,000 and slightly below estimates for 1.675 million.

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

The national average price of gasoline is up three-tenths of a cent at $3.835 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Boeing (BA)

Boeing (BA) 195.46 (-0.09%) is up +2.61% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,675K, 1,662K
08:30 AM ET Core PCE Prices (Q2), 3.70%, 4.90%
08:30 AM ET Corporate Profits (QoQ) (Q2), 1.6%, -5.9%
08:30 AM ET GDP (QoQ) (Q2), 2.2%, 2.0%
08:30 AM ET GDP Price Index (QoQ) (Q2), 2.0%, 4.1%
08:30 AM ET GDP Sales (Q2), 2.2%, 4.2%
08:30 AM ET Initial Jobless Claims, 217K, 201K
08:30 AM ET Jobless Claims 4-Week Avg., 217.00K
08:30 AM ET PCE Prices (Q2), 2.5%, 4.1%
08:30 AM ET Real Consumer Spending (Q2), 1.7%, 4.2%
09:00 AM ET Fed Goolsbee Speaks
10:00 AM ET Pending Home Sales (MoM) (Aug), -0.2%, 0.9%
10:00 AM ET Pending Home Sales Index (Aug), 77.6
10:30 AM ET Natural Gas Storage, 64B
11:00 AM ET KC Fed Composite Index (Sep), 0
11:00 AM ET KC Fed Manufacturing Index (Sep), 12
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.300%
13:00 PM ET 7-Year Note Auction, 4.212%
13:00 PM ET Fed Governor Cook Speaks
16:00 PM ET Fed Chair Powell Speaks
16:30 PM ET Fed’s Balance Sheet, 8,024B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.144T

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