The Dow Market Happenings For Thursday, December 7, 2023 – Nike (NKE) 116.11 Down -0.77% 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 +15 points.

Wednesday the Dow closed down -70.13 (-0.19%) at 36,054.43.

Year-to-date the Dow is up +8.77%.

Wednesday, (14) 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 Walgreens (WBA) 21.38 (+4.24%), Boeing (BA) 236.89 (+1.17%) and 3M (MMM) 102.79 (+1.08%).

The Dow stock losers Wednesday were led by American Express (AXP) 167.51 (-1.86%), Intel (INTC) 41.27 (-1.55%) and Johnson & Johnson (JNJ) 156.62 (-1.22%).

The VIX closed Wednesday at 12.97 (+0.93%) and the 10 YR at 4.132 (+0.011%). The VIX is currently at 13.09 (+0.93%). The 10YR is at 4.151 (+0.03%).

Continuing unemployment claims totaled 1.861 million for the week ended Nov. 25, a decline of 64,000 from the previous week. Treasury yields edged higher following the news as a healthy labor market would give the Federal Reserve more impetus to keep monetary policy tight and hold interest rates steady at next week’s meeting. Initial claims for the week ended Dec. 2 nudged up to 220,000, near the Dow Jones estimate for 222,000.

West Texas intermediate crude oil fell 4% Wednesday to under $70 a barrel, the lowest level since late June. The declines come even as the oil-producing countries of OPEC+ suggest that they will continue or perhaps deepen production cuts. In turn, gasoline prices have continued to decline, as well, falling to their lowest point since January.

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

The national average price of gasoline is down 1.4 cents at $3.202 per gallon.

Earnings Reports

Salesforce (CRM) reported earnings 11/29/23 after the close with $2.11, beating estimates of $1.512 per share.

Today’s Featured Dow Stock

Nike (NKE)

Nike (NKE) 116.11 (+0.61%) is down -0.77% in 2023.

Financial Calendar

07:30 AM ET Challenger Job Cuts (Nov), 36.836K
07:30 AM ET Challenger Job Cuts (YoY), 8.8%
08:30 AM ET Continuing Jobless Claims, 1,910K, 1,927K
08:30 AM ET Initial Jobless Claims, 222K, 218K
08:30 AM ET Jobless Claims 4-Week Avg., 220.00K
10:00 AM ET Wholesale Inventories (MoM) (Oct), -0.2%, 0.2%
10:00 AM ET Wholesale Trade Sales (MoM) (Oct), 2.2%
10:30 AM ET Natural Gas Storage, 10B
11:30 AM ET 4-Week Bill Auction, 5.290%
11:30 AM ET 8-Week Bill Auction, 5.280%
11:30 AM ET Atlanta Fed GDPNow (Q4), 1.3%, 1.3%
15:00 PM ET Consumer Credit (Oct), 9.00B, 9.06B
16:30 PM ET Fed’s Balance Sheet, 7,796B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.395T

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