The Dow Market Happenings For Thursday, December 21, 2023 – American Express (AXP) 180.65 Up +22.27% YTD

Dow stocks hitting 52-week highs include Boeing (BA) 260.25 (-1.24%), Caterpillar (CAT) 289.71 (-1.11%) and JPMorgan (JPM) 166.55 (-1.11%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +211 points.

Wednesday the Dow closed down -475.92 (-1.27%) at 37,082.00.

Year-to-date the Dow is up +11.87%.

Wednesday, no Dow stocks were up, none were at 52-week lows and (3) hit intraday 52-week highs.

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

The VIX closed Wednesday at 13.67 (+9.10%) and the 10 YR at 3.859 (-0.49%). The VIX is currently at 13.44 (-1.00%). The 10YR is at 3.830 (-1.24%).

Treasury yields continued to fall from their highs, with the benchmark 10-year Treasury yield hitting its lowest level since July.

The third reading of real gross domestic product came in lower than expected. Real gross domestic product rose at an annual rate of 4.9% in the third quarter, according to the third estimate from the Bureau of Economic Analysis. That’s down from the second estimate’s increase of 5.2%, and lower than the rise of 5.1% anticipated by economists polled by Dow Jones. In the second quarter, real GDP rose by 2.1%.

Initial jobless claims were little changed week over week and below Wall Street expectations, as the U.S. labor market continues to show strength. There were 205,000 initial unemployment claims last week, up 2,000 from the previous period, according to the Department of Labor. Economists surveyed by Dow Jones were expecting 215,000 claims. Continuing jobless claims came in at 1.87 million, which was also little changed from the prior period.

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

The national average price of gasoline is up 2.3 cents at $3.120 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

American Express (AXP)

American Express (AXP) 180.65 (-2.75%) is up +22.27% in 2023.

Financial Calendar

08:30 AM ET Continuing Jobless Claims, 1,888K, 1,876K
08:30 AM ET Core PCE Prices (Q3), 2.30%, 3.70%
08:30 AM ET Corporate Profits (QoQ) (Q3), 4.1%, 0.5%
08:30 AM ET GDP (QoQ) (Q3), 5.2%, 2.1%
08:30 AM ET GDP Price Index (QoQ) (Q3), 3.5%, 1.7%
08:30 AM ET GDP Sales (Q3), 3.7%, 2.1%
08:30 AM ET Initial Jobless Claims, 214K, 202K
08:30 AM ET Jobless Claims 4-Week Avg., 213.25K
08:30 AM ET PCE Prices (Q3), 2.8%, 2.5%
08:30 AM ET Philadelphia Fed Manufacturing Index (Dec), -3.0, -5.9
08:30 AM ET Philly Fed Business Conditions (Dec), -2.1
08:30 AM ET Philly Fed CAPEX Index (Dec), -1.30
08:30 AM ET Philly Fed Employment (Dec), 0.8
08:30 AM ET Philly Fed New Orders (Dec), 1.3
08:30 AM ET Philly Fed Prices Paid (Dec), 14.80
08:30 AM ET Real Consumer Spending (Q3), 3.6%, 3.6%
10:00 AM ET US Leading Index (MoM) (Nov), -0.4%, -0.8%
10:30 AM ET Natural Gas Storage, -82B, -55B
11:00 AM ET KC Fed Composite Index (Dec), -2
11:00 AM ET KC Fed Manufacturing Index (Dec), -3
11:30 AM ET 4-Week Bill Auction, 5.270%
11:30 AM ET 8-Week Bill Auction, 5.275%
13:00 AM ET 5-Year TIPS Auction, 2.440%
16:30 PM ET Fed’s Balance Sheet, 7,740B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.568T

Both comments and pings are currently closed.

Comments are closed.