DJIA Market Happenings For Wednesday, June 12, 2024 – Amgen (AMGN) 300.70 Up +4.40% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 207.15 (+7.26%). Dow stock 52-week lows include Cisco (CSCO) 45.85 (+0.02%).

The Market

Premarket today, the Dow was indicated to be up +345 points.

Tuesday the Dow closed down -120.62 (-0.31%) at 38,747.42.

Year-to-date the Dow is up +2.81%.

Tuesday, (17) Dow stocks were up, (1) made 52-week lows and (1) made 52-week highs.

The Dow stock winners Tuesday were led by Apple (AAPL) 207.15 (+7.26%), Microsoft (MSFT) 432.68 (+1.12%) and Home Depot (HD) 335.72 (+0.95%).

The Dow stock losers Tuesday were led by American Express (AXP) 224.53 (-3.40%), JPMorgan (JPM) 194.36 (-2.63%) and Boeing BA) 185.50 (-2.43%).

The VIX closed Tuesday at 12.85 (+0.86%) and the 10 YR at 4.401 (+0.02%). The VIX is currently at 13.37 (-3.74%). The 10YR is at 4.297 (-2.34%).

The consumer price index stayed the same for the month of May, lower than the Dow Jones estimate for a 0.1% monthly increase. Year over year, the inflation yardstick increased 3.3%, which also came in below expectations. Monthly and yearly numbers for core CPI, which excludes the volatile prices associated with energy and food, were also lower than anticipated.

It is expected the Fed will maintain its benchmark overnight borrowing rate in a range between 5.25%-5.5% and the market will be watching for central bankers’ updates to their Summary of Economic Projections, which could clarify the path for policy.

The next Fed Meeting will happen July 31.

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

The national average price of gasoline is up 1.3 cents at $3.454 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Amgen (AMGN)

Amgen (AMGN) 300.70 (-1.32%) is up +4.40% in 2024.

Financial Calendar

04:00 AM ET IEA Monthly Report
07:00 AM ET MBA 30-Year Mortgage Rate, 7.07%
07:00 AM ET MBA Mortgage Applications (WoW), -5.2%
07:00 AM ET MBA Purchase Index, 132.3
07:00 AM ET Mortgage Market Index, 180.4
07:00 AM ET Mortgage Refinance Index, 432.1
08:30 AM ET Core CPI (MoM) (May), 0.3%, 0.3%
08:30 AM ET Core CPI (YoY) (May), 3.5%, 3.6%
08:30 AM ET Core CPI Index (May), 317.62
08:30 AM ET CPI (YoY) (May), 3.4%, 3.4%
08:30 AM ET CPI (MoM) (May), 0.1%, 0.3%
08:30 AM ET CPI Index, n.s.a. (May), 314.37, 313.55
08:30 AM ET CPI Index, s.a (May), 312.21
08:30 AM ET CPI, n.s.a (MoM) (May), 0.39%
08:30 AM ET Real Earnings (MoM) (May), -0.4%
10:30 AM ET Crude Oil Inventories, -1.750M, 1.233M
10:30 AM ET EIA Refinery Crude Runs (WoW), 0.061M
10:30 AM ET Crude Oil Imports, 0.013M
10:30 AM ET Cushing Crude Oil Inventories, 0.854M
10:30 AM ET Distillate Fuel Production, 0.031M
10:30 AM ET EIA Weekly Distillates Stocks, 0.500M, 3.197M
10:30 AM ET Gasoline Production, -0.527M
10:30 AM ET Heating Oil Stockpiles, 0.362M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), 1.1%
10:30 AM ET Gasoline Inventories, 0.250M, 2.102M
11:00 AM ET Cleveland CPI (MoM) (May), 0.3%
11:00 AM ET Thomson Reuters IPSOS PCSI (Jun), 54.31
12:00 PM ET WASDE Report
14:00 PM ET Federal Budget Balance (May), -259.3B, 210.0B
14:00 PM ET Interest Rate Projection – 1st Yr (Q2), 3.9%
14:00 PM ET Interest Rate Projection – 2nd Yr (Q2), 3.1%
14:00 PM ET Interest Rate Projection – 3rd Yr, 2.9%
14:00 PM ET Interest Rate Projection – Current (Q2), 4.6%
14:00 PM ET Interest Rate Projection – Longer (Q2), 2.6%
14:00 PM ET FOMC Economic Projections
14:00 PM ET FOMC Statement
14:00 PM ET Fed Interest Rate Decision, 5.50%, 5.50%
14:30 PM ET FOMC Press Conference

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