DJIA Market Happenings For Wednesday, December 20, 2023 – Amgen (AMGN) 278.44 Up +6.02% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 185.75 (+1.64%), Salesforce (CRM) 264.34 (+0.28%) and JPMorgan (JPM) 168.45 (+1.34%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -57 points.

Tuesday the Dow closed up +251.90 (+0.68%) at 37,557.92.

Year-to-date the Dow is up +13.31%.

Tuesday, (19) Dow stocks were up, none were at 52-week lows and (3) were at 52-week highs.

The Dow stock winners Tuesday were led by Walgreens (WBA) 26.03 (+4.20%), Caterpillar (CAT) 292.96 (+2.54%) and Intel (INTC) 46.66 (+2.12%).

The Dow stock losers Tuesday were IBM (IBM) 161.56 (-0.73%), UnitedHealth (UNH) 524.04 (-0.48%) and Coca Cola (KO) 58.83 (-0.32%).

The VIX closed Tuesday at 12.53 (-0.24%) and the 10 YR at 3.912 (-0.18%). The VIX is currently at 12.59 (+0.48%). The 10YR is at 3.881 (-0.97%).

The 10-year U.S. Treasury yield fell Wednesday to its lowest level since July as traders assessed the path of future rate cuts from the Federal Reserve. It’s low this morning was at 3.870.

Mortgage demand fell last week compared to the previous week, despite a continued drop in rates, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.83% from 7.07%, with points increasing to 0.60 from 0.59 (including the origination fee) for loans with a 20% down payment, the group said Wednesday.

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

The national average price of gasoline is up 1.7 cents at $3.097 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.

Walgreens (WBA) reports earnings on 1/4/24 before the open.

IBM (IBM) reports earnings on 1/12/24 before the open.

JPMorgan (JPM) reports earnings on 1/12/24 before the open.

UnitedHealth (UNH) reports earnings on 1/12/24 before the open.

Goldman Sachs (GS) reports earnings on 1/16/24 before the open.

Today’s Featured Dow Stock

Amgen (AMGN)

Amgen (AMGN) 278.44 (+1.07%) is up +6.02% in 2023.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 7.07%
07:00 AM ET MBA Mortgage Applications (WoW), 7.4%
07:00 AM ET MBA Purchase Index, 149.6
07:00 AM ET Mortgage Market Index, 194.5
07:00 AM ET Mortgage Refinance Index, 445.8
08:30 AM ET Current Account (Q3), -197.0B, -212.1B
10:00 AM ET CB Consumer Confidence (Dec), 103.8, 102.0
10:00 AM ET Existing Home Sales (MoM) (Nov), -4.1%
10:00 AM ET Existing Home Sales (Nov), 3.78M, 3.79M
10:30 AM ET Crude Oil Inventories, -4.259M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.104M
10:30 AM ET Crude Oil Imports, -0.423M
10:30 AM ET Cushing Crude Oil Inventories, 1.228M
10:30 AM ET Distillate Fuel Production, -0.083M
10:30 AM ET EIA Weekly Distillates Stocks, 1.494M
10:30 AM ET Gasoline Production, 0.025M
10:30 AM ET Heating Oil Stockpiles, 0.832M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -0.3%
10:30 AM ET Gasoline Inventories, 0.408M
13:00 AM ET 20-Year Bond Auction, 4.780%

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