DJIA Market Happenings For Monday, March 11, 2024 – Visa (V) 280.04 Up +7.56% YTD

Dow stocks hitting 52-week highs include American Express (AXP) 223.37 (-0.02%) and Caterpillar (CAT) 339.19 (-0.30%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -127 points.

Friday the Dow closed down -68.66 (-0.18%) at 38,722.69.

Year-to-date the Dow is up +2.74%.

Friday, (16) Dow stocks were up, none made 52-week lows and (5) made 52-week highs.

The Dow stock winners Friday were led by 3M (MMM) 93.90 (+1.38%), Cisco (CSCO) 49.50 (+1.23%) and Apple (AAPL) 170.73 (+1.02%).

The Dow stock losers Friday were led by Intel (INTC) 44.00 (-4.66%), Boeing (BA) 198.49 (-2.24%) and Honeywell (HON) 200.75 (-0.92%).

The VIX closed Friday at 14.74 (+2.08%) and the 10 YR at 4.074 (-0.34%). The VIX is currently at 15.67 (+6.31%). The 10YR is at 4.077 (-0.22%).

The Dow Jones Industrial Average fell 0.9% in its worst week since October.

Bitcoin cryptocurrency rose to a record high on Monday, topping $71,000.

Friday’s February jobs report gave investors mixed signals as to when exactly the Fed will begin cutting interest rates. While the U.S. economy added more jobs than economists anticipated, a higher unemployment rate and lighter-than-expected wage growth were encouraging signals the central bank could start easing up on monetary policy.

This week we get February’s consumer and producer price indexes — which are set for release Tuesday and Thursday. The consumer price index is expected to show prices rose by 0.4% on a monthly basis, and 3.1% year over year, according to economists. That’s compared to increases of 0.3% and 3.1%, respectively, in the prior reading. Core CPI, which excludes volatile food and energy prices, is set to show a 0.3% increase on the month, and a 3.7% rise from the year-ago period, consensus estimates show. Previously, it had risen 0.4% and 3.9% on the month and year respectively.

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

The national average price of gasoline is up three-tenths of a cent at $3.400 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 3/21/24 after the market close.

Today’s Featured Dow Stock

Visa (V)

Visa (V) 280.04 (+0.64%) is up +7.56% in 2024.

Financial Calendar

09:00 AM ET CB Employment Trends Index (Feb), 113.71
10:00 AM ET NY Fed 1-Year Consumer Inflation Expectations, 3.00%
11:30 AM ET 3-Month Bill Auction, 5.240%
11:30 AM ET 6-Month Bill Auction, 5.105%
12:00 PM ET 3-Year Note Auction, 4.169%

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