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 +108 points.

Wednesday the Dow closed up +65.57 (+0.19%) at 33,804.87.

Year-to-date the Dow is up +1.98%.

Wednesday, (13) Dow stocks were up, none were at 52-week lows and none were at 52-week highs.

The Dow stock winners Wednesday were led by Amgen (AMGN) 283.60 (+4.55%), Boeing (BA) 196.07 (+1.31%) and Intel (INTC) 36.88 (+1.31%).

The Dow stock losers Wednesday were led by Chevron (CVX) 161.10 (-3.27%), Johnson & Johnson (JNJ)156.18 (-1.38%) and Procter & Gamble (PG) 143.00 (-1.23%).

The VIX closed Wednesday at 16.09 (-5.52%) and the 10 YR at 4.569 (-0.50%). The VIX is currently at 15.74 (-2.18%). The 10YR is at 4.588 (-0.09%).

The consumer price index increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report released Thursday. Estimates were for 0.3% and 3.6%, respectively. The core inflation number, excluding food and energy prices, came out in line with economists’ expectations at an increase of 0.3% on the month and 4.1% on a 12-month basis. The data comes following a stronger-than-expected producer price index for September.

Initial filings for unemployment benefits totaled a seasonally adjusted 207,000 for the week ended Sept. 30, up just 2,000 from the previous period and below the Dow Jones consensus estimate for 210,000. Continuing claims, which run a week behind, were little changed at 1.664 million and below 1.68 million estimated. The four-week moving average of claims, which irons out volatility, fell to 208,750, a decline of 2,500. ADP said Wednesday that private payrolls grew by just a net 89,000, well below expectations. Friday, we get the nonfarm payrolls report, which is expected to show an increase of 170,000 in September, down from 187,000 in August.

Shares of Walgreens (WBA) dropped more than 3% after the company reported quarterly results that beat revenue expectations, but missed earnings estimates as demand for Covid vaccines and tests lowered in the U.S.

Microsoft (MSFT) dipped 0.5% on reports that the Internal Revenue Service is seeking an additional $28.9 billion in taxes from the company. Microsoft said it would contest the claims and will take the issue to court if necessary.

The death toll in the Middle East conflict is rising. At least 1,200 people have died in Israel, and more than 1,200 people have died in the West Bank and Gaza Strip, according to officials. Israel, a day after forming an emergency government, said it will not lift a siege of the Gaza Strip until hostages taken by Hamas are returned. U.S. Secretary of State Antony Blinken arrived Thursday in Israel, where he plans to meet with government officials. The State Department said he will “discuss measures to bolster Israel’s security and underscore the United States’ unwavering support for Israel’s right to defend itself.”

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

The national average price of gasoline is down 1.7 cents at $3.646 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) reported earnings on 10/12/23 before the market open with $0.67, beating estimates of $0.682.

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.

Travelers (TRV) reports earnings on 10/18/23 before the market open.

Procter & Gamble (PG) reports earnings on 10/18/23 before the market open.

American Express (AXP) reports earnings on 10/20/23 before the market open.

Coca Cola (KO) reports earnings on 10/24/23 before the market open.

Dow (DOW) reports earnings on 10/24/23 before the market open.

Verizon) reports earnings on 10/24/23 before the market open.

Microsoft (MSFT) reports earnings on 10/24/23 after the market close.

Visa (v) reports earnings on 10/24/23 after the market close.

Today’s Featured Dow Stock

IBM (IBM)

IBM (IBM) 143.23 (+0.79%) is up +1.66% in 2023.

Financial Calendar

07:00 AM ET OPEC Monthly Report
08:30 AM ET Continuing Jobless Claims, 1,664K
08:30 AM ET Core CPI (MoM) (Sep), 0.3%, 0.3%
08:30 AM ET Core CPI (YoY) (Sep), 4.1%, 4.3%
08:30 AM ET Core CPI Index (Sep), 309.66
08:30 AM ET CPI (YoY) (Sep), 3.6%, 3.7%
08:30 AM ET CPI (MoM) (Sep), 0.3%, 0.6%
08:30 AM ET CPI Index, n.s.a. (Sep), 307.37, 307.03
08:30 AM ET CPI Index, s.a (Sep), 306.27
08:30 AM ET CPI, n.s.a (MoM) (Sep), 0.44%
08:30 AM ET Initial Jobless Claims, 210K, 207K
08:30 AM ET Jobless Claims 4-Week Avg., 208.75K
08:30 AM ET Real Earnings (MoM) (Sep), -0.1%
10:30 AM ET Natural Gas Storage, 86B
11:00 AM ET Cleveland CPI (MoM) (Sep), 0.3%
11:00 AM ET Crude Oil Inventories, -2.224M
11:00 AM ET EIA Refinery Crude Runs (WoW), -0.463M
11:00 AM ET Crude Oil Imports, -1.958M
11:00 AM ET Cushing Crude Oil Inventories, 0.132M
11:00 AM ET Distillate Fuel Production, -0.243M
11:00 AM ET EIA Weekly Distillates Stocks, -1.269M
11:00 AM ET Gasoline Production, -0.313M
11:00 AM ET Heating Oil Stockpiles, -0.303M
11:00 AM ET EIA Weekly Refinery Utilization Rates (WoW), -2.2%
11:00 AM ET Gasoline Inventories, 6.481M
11:30 AM ET 4-Week Bill Auction, 5.310%
11:30 AM ET 8-Week Bill Auction, 5.360%
12:00 PM ET WASDE Report
13:00 PM ET 30-Year Bond Auction, 4.345%
13:00 PM ET FOMC Member Bostic Speaks
14:00 PM ET Federal Budget Balance (Sep), 89.3B
16:30 PM ET Fed’s Balance Sheet, 7,956B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.241T