The Dow Market Happenings For Friday, September 29, 2023 – Caterpillar (CAT) 276.24 Up +15.31% 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 +196 points.

Thursday the Dow closed up +116.07 (+0.35%) at 33,666.34.

Year-to-date the Dow is up +1.57%.

Thursday, (19) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Thursday were led by Intel (INTC) 35.18 (+1.65%), Caterpillar (CAT) 276.24 (+1.29%) and Cisco (CSCO) 53.88 (+1.28%).

The Dow stock losers Thursday were led by Boeing (BA) 190.43 (-2.57%), IBM (IBM) 141.58 (-1.11%) and Procter & Gamble (PG) 146.34 (-0.68%).

The VIX closed Thursday at 17.34 (-4.83%) and the 10 YR at 4.567 (-1.08%). The VIX is currently at 16.21 (-6.52%). The 10YR is at 4.520 (-1.55%).

Nike (NKE) shares popped 10% in the premarket after the apparel giant reported fiscal first-quarter earnings that beat analyst expectations. See earnings section below.

Inflation in the US, as measured by the change in Personal Consumption Expenditures (PCE) Price Index, rose to 3.5% on a yearly basis in August from 3.4% (revised from 3.3%) in July, the US Bureau of Economic Analysis reported on Thursday. This reading came in line with the market expectation. The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, rose 3.9%, a slightly softer pace than the 4.3% (revised from 4.2%) increase recorded in July. On a monthly basis, the PCE Price Index and the Core PCE Price Index increased 0.4% and 0.1%, respectively. Both of these figures came in below analysts’ estimates. Further details of the report showed that Personal Income and Personal Spending both grew 0.4% on a monthly basis as expected.

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

The national average price of gasoline is down three-tenths of a cent at $3.832 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 9/28/23 after the market close with $0.94, beating estimates of $0.739 per share.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 276.24 (+1.29%) is up +15.31% in 2023.

Financial Calendar

08:30 AM ET Core PCE Price Index (YoY) (Aug), 3.9%, 4.2%
08:30 AM ET Core PCE Price Index (MoM) (Aug), 0.2%, 0.2%
08:30 AM ET Goods Trade Balance (Aug), -91.20B, -90.92B
08:30 AM ET PCE Price index (YoY) (Aug), 3.5%, 3.3%
08:30 AM ET PCE price index (MoM) (Aug), 0.5%, 0.2%
08:30 AM ET Personal Income (MoM) (Aug), 0.4%, 0.2%
08:30 AM ET Personal Spending (MoM) (Aug), 0.5%, 0.8%
08:30 AM ET Real Personal Consumption (MoM) (Aug), 0.6%
08:30 AM ET Retail Inventories Ex Auto (Aug), 0.2%
08:30 AM ET Wholesale Inventories (MoM), 0.1%, -0.2%
09:45 AM ET Chicago PMI (Sep), 47.4, 48.7
10:00 AM ET Michigan 1-Year Inflation Expectations (Sep), 3.1%, 3.5%
10:00 AM ET Michigan 5-Year Inflation Expectations (Sep), 2.7%, 3.0%
10:00 AM ET Michigan Consumer Expectations (Sep), 66.3, 65.5
10:00 AM ET Michigan Consumer Sentiment (Sep), 67.7, 69.5
10:00 AM ET Michigan Current Conditions (Sep), 69.8, 75.7
12:40 PM ET Dallas Fed PCE (Aug), 2.40%
12:45 PM ET FOMC Member Williams Speaks
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 507
13:00 PM ET U.S. Baker Hughes Total Rig Count, 630
16:30 PM ET CFTC Aluminium speculative net positions, 6.4K
16:30 PM ET CFTC Copper speculative net positions, -16.3K
16:30 PM ET CFTC Corn speculative net positions, -101.2K
16:30 PM ET CFTC Crude Oil speculative net positions, 328.4K
16:30 PM ET CFTC Gold speculative net positions, 135.2K
16:30 PM ET CFTC Nasdaq 100 speculative net positions, 3.2K
16:30 PM ET CFTC Natural Gas speculative net positions, -93.9K
16:30 PM ET CFTC S&P 500 speculative net positions, -139.0K
16:30 PM ET CFTC Silver speculative net positions, 15.2K
16:30 PM ET CFTC Soybeans speculative net positions, 62.7K
16:30 PM ET CFTC Wheat speculative net positions, -56.9K

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