DJIA Market Happenings For Monday, June 10, 2024 – Walmart (WMT) 65.88 Up +25.37% YTD

Dow stocks hitting 52-week highs include Honeywell (HON) 208.78 (+0.16%), Procter & Gamble (PG) 167.06 (-0.84%) and Walmart (WMT) 65.88 (-1.89%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -76 points.

Friday the Dow closed down -87.18 (-0.22%) at 38,798.99.

Year-to-date the Dow is up +2.94%.

Friday, (15) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Friday were led by 3M (MMM) 100.86 (+2.69%), Travelers (TRV) 212.95 (+1.54%) and JPMorgan (JPM) 199.95 (+1.54%).

The Dow stock losers Friday were led by UnitedHealth (UNH) 490.69 (-2.24%), Walmart (WMT) 65.88 (-1.89%) and McDonald’s (MCD) 256.21 (-1.73%).

The VIX closed Friday at 12.22 (0.00%) and the 10 YR at 4.447 (+0.50%). The VIX is currently at 13.17 (+7.77%). The 10YR is at 4.453 (+0.63%).

This week we get the FOMC rate decision and a CPI release on Wednesday.

With the CPI data, economists anticipate a rise of 3.4% from the year-ago period, and a 0.1% increase on a monthly basis. That’s compared to increases of 3.4% and 0.3%, respectively, in the prior reading. Core CPI, which excludes volatile food and energy prices, is expected to show an increase of 3.5% year over year, and a 0.3% gain on the month. Previously, it gained 3.6% and 0.3%, respectively.

Today is Apple’s Worldwide Developers Conference, at which the iPhone maker is anticipated to makes its latest software announcements.

May’s jobs report came in stronger than expected, reducing concerns among investors that the U.S. economy is beginning to slow down.

JPMorgan upgraded Walmart (WMT) to overweight and said the shares can rally 23% over the next year and a half to $81, saying it was time to get defensive amid a softening consumer environment.

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

The national average price of gasoline is down four-tenths of a cent at $3.445 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Walmart (WMT)

Walmart (WMT) 65.88 (-1.89%) is up +25.37% in 2024.

Financial Calendar

10:00 AM ET CB Employment Trends Index (May), 111.25
11:30 AM ET 3-Month Bill Auction, 5.250%
11:30 AM ET 6-Month Bill Auction, 5.155%
13:00 AM ET 3-Year Note Auction, 4.605%

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