There were no Dow stocks hitting 52-week highs. There were no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to be up +204 points.

Thursday the Dow closed down -173.96 (-173.96 (-0.38%) at 45,947.32.

Year-to-date the Dow is up +8.00%.

Thursday, (10) Dow stocks were up, none made 52-week lows, and none made 52-week highs.

The Dow stock winners Thursday were led by IBM (IBM) 281.44 (+5.20%), Apple (AAPL) 256.87 (+1.81%) and Chevron (CVX) 160.72 (+0.97%).

The Dow stock losers Thursday were led by Amgen (AMGN) 271.18 (-2.88%), Nike (NKE) 69.24 (-2.78%) and Merck (MRK) 77.60 (-2.60%).

The VIX closed Thursday at 16.74 (+3.46%) and the 10 YR at 4.163 (-0.26%). The VIX is currently at 15.99 (-0.68%). The 10YR is at 4.130 (-0.07%).

Trump on Thursday announced new tariffs on pharmaceuticals, heavy trucks, kitchen cabinets and upholstered furniture, all of which he said will take effect Oct. 1. He wrote in a Truth Social post that branded or patented pharmaceutical products entering the U.S. would face a 100% levy, but said companies building drug manufacturing plants in the U.S. are exempt. Heavy trucks will face a 25% tariff, while kitchen cabinets and upholstered furniture will see rates of 50% and 30%, respectively.

August’s personal consumption expenditures price index, which is widely known to be the Federal Reserve’s preferred inflation measure, showed that core inflation, a measure excluding food and energy costs, ran at a 2.9% seasonally adjusted annual rate and 0.2% on a monthly basis, according to the Commerce Department. That was in line with what economists were expecting. The all-items index showed an annual rate of 2.7% as well as a monthly gain of 0.3%, in line with expectations as well. Markets continue to price in two quarter-point rate cuts at the Fed’s upcoming meetings, which is what the central bank has projected.

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

The national average price of gasoline is down nine-tenths of a cent at $3.148 per gallon.

Earnings Reports

Nike (NKE) reports earnings on 9/30/2025 after the market close.

Goldman Sachs (GS) reports earnings on 10/14/2025 before the market open.

Johnson & Johnson (JNJ) reports earnings on 10/14/2025 before the market open.

JPMorgan (JPM) reports earnings on 10/14/2025 before the market open.

Travelers (TRV) reports earnings on 10/16/2025 before the market open.

American Express (AXP) reports earnings on 10/17/2025 before the market open.

3M (MMM) reports earnings on 10/21/2025 before the market open.

Coca Cola (KO) reports earnings on 10/21/2025 before the market open.

Verizon (VZ) reports earnings on 10/21/2025 before the market open.

IBM (IBM) reports earnings on 10/22/2025 after the market close.

Boeing (BA) reports earnings on 10/22/2025 before the market open.

Honeywell (HON) reports earnings on 10/23/2025 before the market open.

Amazon (AMZN) reports earnings on 10/30/2025 after the market close.

Today’s Featured Dow Stock

Home Depot (HD)

Home Depot (HD) 407.45 (-0.57%) is up +4.75% in 2025.

Financial Calendar

08:30 AM ET Core PCE Price Index (YoY) (Aug), 2.9% 2.9%
08:30 AM ET Core PCE Price Index (MoM) (Aug), 0.2%, 0.3%
08:30 AM ET PCE Price index (YoY) (Aug), 2.7%, 2.6%
08:30 AM ET PCE price index (MoM) (Aug), 0.3%, 0.2%
08:30 AM ET Personal Income (MoM) (Aug), 0.3%, 0.4%
08:30 AM ET Personal Spending (MoM) (Aug), 0.5%, 0.5%
08:30 AM ET Real Personal Consumption (MoM) (Aug), 0.3%
09:00 AM ET Dallas Fed PCE (Aug), 1.90%
09:00 AM ET FOMC Member Barkin Speaks
10:00 AM ET Michigan 1-Year Inflation Expectations (Sep), 4.8%, 4.8%
10:00 AM ET Michigan 5-Year Inflation Expectations (Sep), 3.9%, 3.5%
10:00 AM ET Michigan Consumer Expectations (Sep), 51.8, 55.9
10:00 AM ET Michigan Consumer Sentiment (Sep), 55.4, 58.2
10:00 AM ET Michigan Current Conditions (Sep), 61.2, 61.7
11:30 AM ET Atlanta Fed GDPNow (Q3), 3.3%, 3.3%
13:00 PM ET U.S. Baker Hughes Oil Rig Count, 418
13:00 PM ET FOMC Member Bowman Speaks
13:00 PM ET U.S. Baker Hughes Total Rig Count, 542
15:30 PM ET CFTC Aluminium speculative net positions, 1.2K
15:30 PM ET CFTC Copper speculative net positions, 30.3K
15:30 PM ET CFTC Corn speculative net positions, -36.2K
15:30 PM ET CFTC Crude Oil speculative net positions, 98.7K
15:30 PM ET CFTC Gold speculative net positions, 266.4K
15:30 PM ET CFTC Nasdaq 100 speculative net positions, 17.8K
15:30 PM ET CFTC Natural Gas speculative net positions, -110.9K
15:30 PM ET CFTC S&P 500 speculative net positions, -225.1K
15:30 PM ET CFTC Silver speculative net positions, 51.5K
15:30 PM ET CFTC Soybeans speculative net positions, 21.2K
15:30 PM ET CFTC Wheat speculative net positions, -72.2K
18:00 PM ET FOMC Member Bostic Speaks