Dow stocks hitting 52-week highs include IBM (IBM) 211.61 (+0.82%), Verizon (VZ) 43.86 (+0.14%) and Walmart (WMT) 79.66 (+1.04%). There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +66 points.

Thursday the Dow closed up +235.06 (+0.58%) at 41,096.77.

Year-to-date the Dow is up +9.04%.

Thursday, (23) 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) 253.37 (+1.52%), 3M (MMM) 132.03 (+1.38%) and Caterpillar (CAT) 339.58 (+1.37%).

The Dow stock losers Wednesday were led by Intel (INTC) 19.36 (-1.43%), Dow (DOW) 50.26 (-0.93%) and JPMorgan (JPM) 206.60 (-0.30%).

The VIX closed Wednesday at 17.07 (-3.50%) and the 10 YR at 3.642 (-0.82%). The VIX is currently at 16.76 (-1.82%). The 10YR is at 3.652 (-0.52%).

Wall Street is now looking ahead toward the Federal Reserve’s policy meeting on Sept. 17-18, where the central bank is largely anticipated to lower interest rates by 25 basis points. Currently, the Fed’s target rate is sitting at 5.25% to 5.5%.

Economic data reflecting a moderation in inflation also seemed to support the case for a rate cut. The consumer price index in August came in at 2.5% on annualized basis, the lowest level since February 2021. Wholesale prices, meanwhile, rose 0.2% in August, coming in line with expectations.

Import prices fell 0.3% in August, their biggest decline of the year, the Bureau of Labor Statistics reported Friday. The decline followed increases of 0.1% in June and July and was the biggest move lower since December 2023. Economists surveyed by Dow Jones had been looking for a drop of 0.2%. Export prices also fell, slumping 0.7% to reverse a 0.5% increase in July.

Boeing (BA) sank 4% after Boeing factory workers went on strike early Friday after rejecting a new labor contract. The work stoppage will impact production of most aircrafts, including the 737 Max.

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

The national average price of gasoline is down 1.2 cents at $3.230 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/26/24 after the market close.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 339.58 (+1.37%) is up +14.85% in 2024.

Financial Calendar

08:30 AM ET Export Price Index (YoY) (Aug), 1.4%
08:30 AM ET Export Price Index (MoM) (Aug), -0.1%, 0.7%
08:30 AM ET Import Price Index (MoM) (Aug), -0.2%, 0.1%
08:30 AM ET Import Price Index (YoY) (Aug), 1.6%
10:00 AM ET Michigan 1-Year Inflation Expectations (Sep), 2.8%
10:00 AM ET Michigan 5-Year Inflation Expectations (Sep), 3.0%
10:00 AM ET Michigan Consumer Expectations (Sep), 71.0, 72.1
10:00 AM ET Michigan Consumer Sentiment (Sep), 68.3, 67.9
10:00 AM ET Michigan Current Conditions (Sep), 61.5, 61.3
13:00 PM ET U.S. Baker Hughes Oil Rig Count
13:00 PM ET U.S. Baker Hughes Total Rig Count
15:30 PM ET CFTC Aluminium speculative net positions, 2.3K
15:30 PM ET CFTC Copper speculative net positions, 13.0K
15:30 PM ET CFTC Corn speculative net positions, -90.5K
15:30 PM ET CFTC Crude Oil speculative net positions, 177.0K
15:30 PM ET CFTC Gold speculative net positions, 287.6K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 26.0K
15:30 PM ET CFTC Natural Gas speculative net positions, -100.3K
15:30 PM ET CFTC S&P 500 speculative net positions, -48.8K
15:30 PM ET CFTC Silver speculative net positions, 46.1K
15:30 PM ET CFTC Soybeans speculative net positions, -162.0K
15:30 PM ET CFTC Wheat speculative net positions, -27.7K