The Dow Market Happenings For Thursday, October 5, 2023 – Disney (DIS) 79.32 Down -8.70% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Disney (DIS) 79.32 (-0.28%) and 3M (MMM) 88.02 (-0.87%).

The Market

Premarket today, the Dow was indicated to be down -94 points.

Wednesday the Dow closed up +127.17 (+0.39%) at 33,129.55.

Year-to-date the Dow is down -0.05%.

Wednesday, (22) 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 Microsoft (MSFT) 318.955 (+1.78%), Amgen (AMGN) 265.44 (+1.70%) and Walmart (WMT) 161.00 (+1.20%).

The Dow stock losers Wednesday were led by Chevron (CVX) 163.04 (-2.33%), Caterpillar (CAT) 265.03 (-1.46%) and Verizon (VZ) 31.54 (-1.38%).

The VIX closed Wednesday at 18.58 (-6.07%) and the 10 YR at 4.728 (-1.40%). The VIX is currently at 18.64 (+0.32%). The 10YR is at 4.731 (+0.02%).

Weekly initial jobless claims came in at 207,000 for the week ending Sept. 30, up just 2,000 from the prior week’s numbers. Economists had forecasted 210,000. While the slight increase in jobless claims was about in-line with the Street, it disappointed some investors hoping the weekly data would start to signal a labor market breakdown and end the run with rates that’s hurting stocks.

On Friday, economists believe non-farm payrolls for September will show a 170,000 increase, that would be down from a 187,000 jobs gain in August.

Today payroll processing firm ADP said that private job growth totaled 89,000 for September. That number came in well below the estimate for 160,000 estimate.

Crude oil prices are on pace to see their biggest weekly losses since March. Brent crude futures have fallen about 10.4% week to date, while West Texas Intermediate crude futures slipped 7.6%. If that performance continues through Friday, it would mark the worst weeks for both since the week ending March 17. Brent lost 11.9% that week, while WTI dropped 13%. Both were down by about 0.8% Thursday morning.

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

The national average price of gasoline is down 1.7 cents at $3.768 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.

Walgreens (WBA) reports earnings on 10/12/23 before the market open.

JPMorgan (JPM) reports earnings on 10/13/23 before the market open.

UnitedHealth (UNH) reports earnings on 10/13/23 before the market open.

Goldman Sachs (GS) reports earnings on 10/17/23 before the market open.

Johnson & Johnson (JNJ) reports earnings on 10/17/23 before the market open.

Today’s Featured Dow Stock

Disney (DIS)

Disney (DIS) 79.32 (-0.28%) is down -8.70% in 2023.

Financial Calendar

07:30 AM ET Challenger Job Cuts (Sep), 75.151K
07:30 AM ET Challenger Job Cuts (YoY), 266.9%
08:30 AM ET Continuing Jobless Claims, 1,678K, 1,670K
08:30 AM ET Exports, 251.66B
08:30 AM ET Imports, 316.70B
08:30 AM ET Initial Jobless Claims, 210K, 204K
08:30 AM ET Jobless Claims 4-Week Avg., 211.00K
08:30 AM ET Trade Balance (Aug), -64.60B, -65.00B
09:00 AM ET FOMC Member Mester Speaks
10:30 AM ET Natural Gas Storage, 90B
11:30 AM ET 4-Week Bill Auction, 5.290%
11:30 AM ET 8-Week Bill Auction, 5.330%
11:30 AM ET FOMC Member Barkin Speaks
12:00 PM ET FOMC Member Daly Speaks
12:15 PM ET Fed Vice Chair for Supervision Barr Speaks
16:30 PM ET Fed’s Balance Sheet, 8,002B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.168T

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