The Dow Market Happenings For Thursday, March 14, 2024 – Apple (AAPL) 171.13 Down -11.12% YTD

Dow stocks hitting 52-week highs include Dow (DOW) 57.97 (+0.50%), JPMorgan (JPM) 191.38 (+0.81%) and Procter & Gamble (PG) 162.30 (+0.23%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +121 points.

Wednesday the Dow closed up +37.83 (+0.10%) at 39,043.32.

Year-to-date the Dow is up +3.59%.

Wednesday, (18) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Wednesday were led by 3M (MMM) 104.07 (+5.42%), Travelers (TRV) 223.49 (+1.37%) and Chevron (CVX) 153.89 (+1.32%).

The Dow stock losers Wednesday were led by Intel (INTC) 43.23 (-4.44%), McDonald’s (MCD) 282.86 (-3.89%) and Apple (AAPL) 171.13 (-1.21%).

The VIX closed Wednesday at 13.75 (-0.65%) and the 10 YR at 4.196 (+0.19%). The VIX is currently at 13.56 (-1.38%). The 10YR is at 4.235 (+1.12%).

The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast and comes after a 0.3% increase in January. Excluding food and energy, core PPI accelerated by 0.3%, compared to the estimate for a 0.2% increase. Another measure that also excludes trade services increased 0.4%, compared to the 0.6% gain in January. On a year-over-year basis, the headline index increased 1.6%, the biggest move since September 2023.

The PPI report is the last major piece of economic data to be released prior to the Federal Reserve’s upcoming policy meeting, set for March 19-20.

Initial filings for unemployment insurance nudged lower to 209,000 last week, a decrease of 1,000 and below the estimate for 218,000, the Labor Department reported.

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

The national average price of gasoline is up 1.6 cents at $3.412 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Apple (AAPL)

Apple (AAPL) 171.13 (-1.21%) is down -11.12% in 2024.

Financial Calendar

08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Feb), 0.6%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Feb), 2.6%
08:30 AM ET Continuing Jobless Claims, 1,900K, 1,906K
08:30 AM ET Core PPI (MoM) (Feb), 0.2%, 0.5%
08:30 AM ET Core PPI (YoY) (Feb), 1.9%, 2.0%
08:30 AM ET Core Retail Sales (MoM) (Feb), 0.5%, -0.6%
08:30 AM ET Initial Jobless Claims, 218K, 217K
08:30 AM ET Jobless Claims 4-Week Avg., 212.25K
08:30 AM ET PPI (YoY) (Feb), 1.1%, 0.9%
08:30 AM ET PPI (MoM) (Feb), 0.3%, 0.3%
08:30 AM ET Retail Control (MoM) (Feb), -0.4%
08:30 AM ET Retail Sales (YoY) (Feb), 0.65%
08:30 AM ET Retail Sales (MoM) (Feb), 0.8%, -0.8%
08:30 AM ET Retail Sales Ex Gas/Autos (MoM) (Feb), -0.5%
10:00 AM ET Business Inventories (MoM) (Jan), 0.2%, 0.4%
10:00 AM ET Retail Inventories Ex Auto (Jan), 0.3%, 0.4%
10:30 AM ET Natural Gas Storage, -40B
11:30 AM ET 4-Week Bill Auction, 5.280%
11:30 AM ET 8-Week Bill Auction, 5.280%
16:30 PM ET Fed’s Balance Sheet, 7,539B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.621T

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