The Dow Market Happenings For Wednesday, June 26, 2024 – Dow (DOW) 53.16 Down -3.64% YTD

Dow stocks hitting 52-week highs include Merck (MRK) 132.92 (-0.03%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be down -99 points.

Tuesday the Dow closed down -299.05 (-0.76%) at 39,112.16.

Year-to-date the Dow is up +3.78%.

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

The Dow stock winners Tuesday were led by Salesforce (CRM) 241.76 (+0.76%), Microsoft (MSFT) 450.95 (+0.73%) and Intel (INTC) 30.74 (+0.56%).

The Dow stock losers Tuesday were led by Home Depot (HD) 338.32 (-3.58%), Dow (DOW) 53.16 (-2.67%) and Nike (NKE) 94.75 (-2.49%).

The VIX closed Tuesday at 12.84 (-3.68%) and the 10 YR at 4.267 (+0.73%). The VIX is currently at 13.20 (+2.80%). The 10YR is at 4.284 (+1.13%).

Everyone is looking to Friday and the release of May’s personal consumption expenditures price index. The Federal Reserve keeps a close eye on its preferred inflation gauge, and investors are hopeful that the central bank will lower interest rates at some point later this year if price increases continue to moderate.

Home prices have hit yet another record. In April, prices rose 6.3% compared to April of last year, according to the S&P CoreLogic Case-Shiller National Home Price Index. This is the second month in a row that the national index has increased at least 1% over its previous all-time high. Compared with early 2020, home prices are 47% higher, and the median sale price has become five times more than the median household income. Moreover, prices are 26% higher for renters than they were in 2020. This is despite the fact that rent growth has been slowing because of a rise in new apartment units in 2024.

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

The national average price of gasoline is up 2.5 cents at $3.494 per gallon.

Earnings Reports

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

JPMorgan (JPM) reports earnings on 7/12/24 before the market open.

Goldman Sachs (GS) reports earnings on 7/15/24 before the market open.

UnitedHealth (UNH) reports earnings on 7/15/24 before the market open.

Johnson & Johnson (JNJ) reports earnings on 7/17/24 before the market open.

American Express (AXP) reports earnings on 7/19/24 before the market open.

Travelers (TRV) reports earnings on 7/19/24 before the market open.

Coca Cola (KO) reports earnings on 7/23/24 before the market open.

Verizon) reports earnings on 7/23/24 before the market open.

Visa (V) reports earnings on 7/23/24 after the market close.

Today’s Featured Dow Stock

Dow (DOW)

Dow (DOW) 53.16 (-2.67%) is down -3.64% in 2024.

Financial Calendar

07:00 AM ET MBA 30-Year Mortgage Rate, 6.94%
07:00 AM ET MBA Mortgage Applications (WoW), 0.9%
07:00 AM ET MBA Purchase Index, 146.0
07:00 AM ET Mortgage Market Index, 210.4
07:00 AM ET Mortgage Refinance Index, 552.7
08:30 AM ET Building Permits, 1.386M, 1.440M
08:30 AM ET Building Permits (MoM), -3.8%, -3.0%
10:00 AM ET New Home Sales (MoM) (May), -4.7%
10:00 AM ET New Home Sales (May), 636K, 634K
10:30 AM ET Crude Oil Inventories, -2.547M
10:30 AM ET EIA Refinery Crude Runs (WoW), -0.282M
10:30 AM ET Crude Oil Imports, -2.480M
10:30 AM ET Cushing Crude Oil Inventories, 0.307M
10:30 AM ET Distillate Fuel Production, -0.272M
10:30 AM ET EIA Weekly Distillates Stocks, -1.726M
10:30 AM ET Gasoline Production, 0.084M
10:30 AM ET Heating Oil Stockpiles, 0.526M
10:30 AM ET EIA Weekly Refinery Utilization Rates (WoW), -1.5%
10:30 AM ET Gasoline Inventories, -2.280M
13:00 PM ET 5-Year Note Auction, 4.553%
16:30 PM ET Fed Bank Stress Test Results

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