The Dow Market Happenings For Friday, June 7, 2024 – Verizon (VZ) 41.33 Up +9.63% YTD

Dow stocks hitting 52-week highs include Coca Cola (KO) 64.15 (+0.36%), Procter & Gamble (PG) 168.47 (+1.46%) and Walmart (WMT) 67.15 (+0.09%). Dow stock 52-week lows include Cisco (CSCO) 46.02 (-2.95%).

The Market

Premarket today, the Dow was indicated to be down -42 points.

Thursday the Dow closed up +78.84 (+0.20%) at 38,886.17.

Year-to-date the Dow is up +3.18%.

Thursday, (17) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Thursday were led by Salesforce (CRM) 242.76 (+2.63%), Amazon 185.00 (+2.05%) and Nike (NKE) 95.72 (+1.48%).

The Dow stock losers Wednesday were led by Intel (INTC) 30.42 (-1.17%), 3M (MMM) 98.22 (-0.85%) and Goldman Sachs (GS) 458.10 (-0.78%).

The VIX closed Wednesday at 12.58 (-0.40%) and the 10 YR at 4.295 (-0.40%). The VIX is currently at 12.83 (+1.99%). The 10YR is at 4.403 (+2.92%).

Nonfarm payrolls expanded by 272,000 for the month, up from 165,000 in April and well ahead of the Dow Jones consensus estimate for 190,000. The unemployment rate rose to 4%, the first time it has breached that level since January 2022. Job gains were concentrated in health care, government and leisure and hospitality, consistent with recent trends. Average hourly earnings were higher than expected as well, rising 0.4% on the month and 4.1% from a year ago.

The Fed will give its decision on rates next week after its June 11-12 policy meeting.

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

The national average price of gasoline is down 1.6 cents at $3.471 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 6/27/24 after the market close.

Today’s Featured Dow Stock

Verizon (VZ)

Verizon (VZ) 41.33 (-0.05%) is up +9.63% in 2024.

Financial Calendar

08:30 AM ET Average Hourly Earnings (MoM) (May), 0.3%, 0.2%
08:30 AM ET Average Hourly Earnings (YoY) (YoY) (May), 3.9%, 3.9%
08:30 AM ET Average Weekly Hours (May), 34.3, 34.3
08:30 AM ET Government Payrolls (May), 8.0K
08:30 AM ET Manufacturing Payrolls (May), 5K, 8K
08:30 AM ET Nonfarm Payrolls (May), 182K, 175K
08:30 AM ET Participation Rate (May), 62.7%
08:30 AM ET Private Nonfarm Payrolls (May), 170K, 167K
08:30 AM ET U6 Unemployment Rate (May), 7.4%
08:30 AM ET Unemployment Rate (May), 3.9%, 3.9%
10:00 AM ET Wholesale Inventories (MoM) (Apr), 0.2%, -0.4%
10:00 AM ET Wholesale Trade Sales (MoM) (Apr), -1.3%
12:00 PM ET Fed Governor Cook Speaks
13:00 PM ET Atlanta Fed GDPNow (Q2), 2.6%, 2.6%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 496
13:00 PM ET U.S. Baker Hughes Total Rig Count, 600
15:00 PM ET Consumer Credit (Apr), 9.30B, 6.27B
15:30 PM ET CFTC Aluminium speculative net positions, 1.1K
15:30 PM ET CFTC Copper speculative net positions, 65.5K
15:30 PM ET CFTC Corn speculative net positions, -51.6K
15:30 PM ET CFTC Crude Oil speculative net positions, 243.9K
15:30 PM ET CFTC Gold speculative net positions, 236.6K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, -3.7K
15:30 PM ET CFTC Natural Gas speculative net positions, -75.4K
15:30 PM ET CFTC S&P 500 speculative net positions, -2.2K
15:30 PM ET CFTC Silver speculative net positions, 57.2K
15:30 PM ET CFTC Soybeans speculative net positions, -25.9K
15:30 PM ET CFTC Wheat speculative net positions, -14.4K

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