DJIA Market Happenings For Monday, December 18, 2023 – Walmart (WMT) 152.74 Up +7.72% YTD

Dow stocks hitting 52-week highs include Boeing (BA) 264.27 (+3.13%), Home Depot (HD) 354.00 (+0.62%), Intel (INTC) 46.16 (2.17%) and JPMorgan (JPM) 165.23 (+0.76%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +43 points.

Friday the Dow closed up +56.81 (+0.15%) at 37,305.16.

Year-to-date the Dow is up +12.54%.

Friday, (14) Dow stocks were up, none were at 52-week lows and (4) were at 52-week highs.

The Dow stock winners Friday were led by Boeing (BA) 264.27 (+3.13%), Intel (INTC) 46.16 (+2.17%) and Salesforce (CRM) 261.60 (+1.71%).

The Dow stock losers Friday were Verizon (VZ) 37.37 (-1.32%), Johnson & Johnson (JNJ) 155.16 (-1.09%) and McDonald’s MCD) 287.27 (-0.95%).

The VIX closed Friday at 12.28 (-1.60%) and the 10 YR at 3.912 (-0.46%). The VIX is currently at 12.47 (+1.55%). The 10YR is at 3.950 (+0.53%).

The Dow Jones Industrial Average notched an intraday record high on Friday, as investors welcome expectations that the Federal Reserve could start to cut interest rates next year as inflation cools.

Investor sentiment took a positive turn last week after the Federal Reserve indicated three short-term interest rate cuts are expected in 2024 amid cooling inflation.

Oil prices jumped more than 2% on Monday as attacks by militants based in Yemen on Red Sea shipping disrupts shipping through the crucial waterway. The West Texas Intermediate contract for January gained $1.90, or 2.66%, to trade at $73.33, while the Brent contract for February rose $2.06, or 2.69%, to $78.61 a barrel.

The dollar index was down 0.89% year to date as of Dec. 17, putting it on pace for its first negative year in three years. The U.S. Dollar has broadly fallen against foreign currencies after the Federal Reserve indicated three rate cuts in 2024. In the prior trading week, the dollar index fell 1.35%, which marked its worst weekly performance since Nov. 17, as well as its fourth negative week in five weeks.

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

The national average price of gasoline is down 1.7 cents at $3.087 per gallon.

Earnings Reports

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

Nike (NKE) reports earnings on 12/21/23 after the close.

Today’s Featured Dow Stock

Walmart (WMT)

Walmart (WMT) 152.74 (+0.37%) is dup +7.72% in 2023.

Financial Calendar

10:00 AM ET NAHB Housing Market Index (Dec), 36, 34 11:30 AM ET 3-Month Bill Auction, 5.260% 11:30 AM ET 6-Month Bill Auction, 5.190%

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