The Dow Market Happenings For Thursday, June 13, 2024 – Amazon (AMZN) 186.89 Up +23.00% YTD

Dow stocks hitting 52-week highs include Apple (AAPL) 213.07 (+2.86%), Honeywell (HON) 208.50 (-0.47%) and Microsoft (MSFT) 441.06 (+1.94%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -60 points.

Wednesday the Dow closed down -35.21 (-0.09%) at 38,712.21.

Year-to-date the Dow is up +2.71%.

Wednesday, (8) Dow stocks were up, none made 52-week lows and (3) made 52-week highs.

The Dow stock winners Wednesday were led by Apple (AAPL) 213.07 (+2.86%), Home Depot (HD) 344.14 (+2.51%) and Microsoft (MSFT) 441.06 (+1.94%).

The Dow stock losers Wednesday were led by Nike (NKE) 93.68 (-2.38%), Salesforce (CRM) 235.80 (-2.15%) and Verizon (VZ) 39.77 (-1.61%).

The VIX closed Wednesday at 12.04 (-6.30%) and the 10 YR at 4.308 (+0.42%). The VIX is currently at 13.37 (-3.74%). The 10YR is at 4.297 (-2.34%).

Yesterday, the Federal Reserve signaled that it’s expecting just one rate cut before the end of the year. That’s down from three rate cuts the Federal Open Market Committee had indicated in March. The central bank also kept its key interest rate unchanged, at a range of 5.25% to 5.5%. Meanwhile, the consumer price index released early Wednesday showed no increase in May, though it rose 3.3% from a year ago. Federal Reserve Chair Jerome Powell noted at a press conference that the CPI report showed progress but added “We don’t see ourselves as having the confidence that would warrant beginning to loosen policy at this time.”

This morning, the producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported. That reversed a 0.5% increase in April and compared to the Dow Jones estimate for a 0.1% increase. Excluding food, energy and trade services, PPI was unchanged, compared to expectations for a 0.3% increase.

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

The national average price of gasoline is up six-tenths of a cent at $3.460 per gallon.

Earnings Reports

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

Today’s Featured Dow Stock

Amazon (AMZN)

Amazon (AMZN) 186.89 (-0.18%) is up +23.00% in 2024.

Financial Calendar

08:30 AM ET PPI ex. Food/Energy/Transport (MoM) (May), 0.4%
08:30 AM ET PPI ex. Food/Energy/Transport (YoY) (May), 3.1%
08:30 AM ET Continuing Jobless Claims, 1,800K, 1,792K
08:30 AM ET Core PPI (YoY) (May), 2.4%, 2.4%
08:30 AM ET Core PPI (MoM) (May), 0.3%, 0.5%
08:30 AM ET Initial Jobless Claims, 225K, 229K
08:30 AM ET Jobless Claims 4-Week Avg., 222.25K
08:30 AM ET PPI (MoM) (May), 0.1%, 0.5%
08:30 AM ET PPI (YoY) (May), 2.5%, 2.2%
10:30 AM ET Natural Gas Storage, 75B, 98B
11:30 AM ET 4-Week Bill Auction, 5.270%
11:30 AM ET 8-Week Bill Auction, 5.265%
12:00 PM ET FOMC Member Williams Speaks
12:00 PM ET Treasury Secretary Yellen Speaks
13:00 PM ET 30-Year Bond Auction, 4.635%
16:30 PM ET Fed’s Balance Sheet, 7,256B
16:30 PM ET Reserve Balances with Federal Reserve Banks, 3.458T

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