DJIA Market Happenings For Thursday, April 11, 2024 – McDonald’s (MCD) 268.67 Down -9.39% YTD

There are no Dow stocks hitting 52-week highs. Dow stock 52-week lows include Boeing (BA) 174.63 (-1.96%).

The Market

Premarket today, the Dow was indicated to be down -33 points.

Wednesday the Dow closed down -422.16 (-1.09%) at 38,461.51.

Year-to-date the Dow is up +2.05%.

Wednesday, (8) Dow stocks were up, (1) made 52-week lows and none made 52-week highs.

The Dow stock winners Wednesday were led by Cisco (CSCO)50.01 (+3.67%), Nike (NKE) 91.00 (+1.11%) and Intel (INTC) 38.33 (+0.92%).

The Dow stock losers Wednesday were led by Travelers (TRV) 223.84 (-2.93%), American Express (AXP)219.84 (-1.91%) and Boeing (BA) 178.12 (-1.89%).

The VIX closed Wednesday at 15.80 (+5.47%) and the 10 YR at 4.533 (-0.46%). The VIX is currently at 15.20 (+0.07%). The 10YR is at 4.387 (-0.72%).

This morning, the producer price index increased 0.2% for the month, less than the 0.3% estimate consensus and not as much as the 0.6% increase in February, according to a release Thursday from the Labor Department’s Bureau of Labor Statistics. Excluding food and energy, core PPI also rose 0.2%, meeting expectations. The release comes a day after the BLS reported that consumer prices again rose more than expected in March, raising concerns that the Federal Reserve will be unable to lower interest rates anytime soon.

Federal Reserve members want to feel more confident that inflation is easing and moving toward a 2% target. At their March meeting, where the central bank opted to keep interest rates the same, policymakers apparently had a long discussion about rising costs, touching on geopolitical turmoil and higher energy prices. The Fed still plans to cut rates from the current benchmark rate between 5.25%-5.5% at some point this year, but inflation has been running hotter than many members would like. In other Fed news, the CME Group’s FedWatch tool, which analyzes the probability of rate changes for upcoming meetings, moved dramatically after the CPI release came out Wednesday morning. Traders now think there’s a slim chance that there will be a rate cut at the June meeting, which had previously been favored.

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

The national average price of gasoline is up 1.1 cents at $3.630 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/21/24 after the market close with $0.98, beating estimates of $0.691 per share.

JPMorgan (JPM) reports earnings on 4/12/24 before the market open.

Goldman Sachs (GS) reports earnings on 4/15/24 before the market open.

Johnson & Johnson (JNJ) reports earnings on 4/16/24 before the market open.

UnitedHealth (UNH) reports earnings on 4/16/24 before the market open.

Travelers (TRV) reports earnings on 4/17/24 before the market open.

American Express (AXP) reports earnings on 4/19/24 before the market open.

Procter & Gamble (PG) reports earnings on 4/19/24 before the market open.

Coca Cola (KO) reports earnings on 4/22/24 before the market open.

Verizon (VZ) reports earnings on 4/22/24 before the market open.

Microsoft (MSFT) reports earnings on 4/23/24 after the market close.

Visa (V) reports earnings on 4/23/24 after the market close.

Boeing (BA) reports earnings on 4/24/24 before the market open.

IBM (IBM) reports earnings on 4/24/24 after the market close.

Caterpillar (CAT) reports earnings on 4/25/24 before the market open.

Dow (DOW) reports earnings on 4/25/24 before the market open.

Honeywell (HON) reports earnings on 4/25/24 before the market open.

Merck (MRK) reports earnings on 4/25/24 before the market open.

Intel (INTC) reports earnings on 4/25/24 after the market close.

Amazon (AMZN) reports earnings on 4/25/24 after the market close.

Chevron (CVX) reports earnings on 4/26/24 before the market open.

3M (MMM) reports earnings on 4/30/24 before the market open.

Coca Cola (KO) reports earnings on 4/30/24 before the market open.

McDonald’s (MCD) reports earnings on 4/30/24 before the market open.

Amgen (AMGN) reports earnings on 5/2/24 after the market close.

Apple (AAPL) reports earnings on 5/2/24 after the market close.

Disney (DIS) reports earnings on 5/7/24 before the market open.

Today’s Featured Dow Stock

McDonald’s (MCD)

McDonald’s (MCD) 268.67 (-0.29%) is down -9.39% in 2024.

Financial Calendar

07:00 AM ET OPEC Monthly Report
08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (Mar), 0.4%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (Mar), 2.8%
08:30 AM ET Continuing Jobless Claims, 1,791K
08:30 AM ET Core PPI (YoY) (Mar), 2.3%, 2.0%
08:30 AM ET Core PPI (MoM) (Mar), 0.2%, 0.3%
08:30 AM ET Initial Jobless Claims, 216K, 221K
08:30 AM ET Jobless Claims 4-Week Avg., 214.25K
08:30 AM ET PPI (MoM) (Mar), 0.3%, 0.6%
08:30 AM ET PPI (YoY) (Mar), 2.2%, 1.6%
08:45 AM ET FOMC Member Williams Speaks
10:00 AM ET FOMC Member Barkin Speaks
10:30 AM ET Natural Gas Storage, 14B, -37B
11:30 AM ET 4-Week Bill Auction, 5.265%
11:30 AM ET 8-Week Bill Auction, 5.260%
12:00 PM ET Fed Collins Speaks
12:00 PM ET WASDE Report
13:00 PM ET 30-Year Bond Auction, 4.331%
13:30 PM ET FOMC Member Bostic Speaks
16:30 PM ET Fed’s Balance Sheet, 7,440B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.541T

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