Market Happenings for Monday, April 30, 2012

Pre-market, futures are down a bit ahead of data on U.S. personal income and spending. Gainers this morning include SUN, HAR, WPI, COG and SHLD while losers include HUM, VRSN, SVU, SLE and AVP.

The Market

Not much going on this morning. There was a little news on Microsoft and Barnes & Noble. Barnes & Noble (BKS) shares rose 91% in pre-market trading after the book merchant sold a 17.6% stake in its Nook e-reader to Microsoft (MSFT) for $300 million.

The national average price for gasoline continues to drop and is currently at $3.816 per gallon. My state of residence, Washinton, continues to be one of the states with the highest price for gasoline. The price I paid the other day at Costco was $3.89.

Pfizer (PFE) and Kraft (KFT) both report earnings this week. PFE tomorrow (5/1/12), before the market open and KFT, Thursday (5/3/12) after the market close.

New High of the Day – Valspar Corp. (VAL).

Earnings Reports

Earnings reports (sorted by mkt cap): APC-Anadarko Petroleum (consensus $0.83), LYB-LyondellBasell Industries NV (1.04), MCK-McKesson (2.06), L-Loews (0.90), HUM-Humana (1.55), WPI-Watson Pharmaceuticals (1.60), EEP-Enbridge Energy Partners LP (0.37), HLF-Herbalife Ltd. (0.81), CNA-CNA Financial (0.68), FMC-FMC Corp. (1.85), NYX-NYSE Euronext (0.48), PCL-Plum Creek Timber (0.24), SBAC-SBA Communications (-0.18), FLS-Flowserve (1.63), UDR-UDR Inc. (-0.09).

Financial Calendar

0830 ET Mar personal spending expected +0.4%, Feb +0.8%. Mar personal income expected +0.3%, Feb +0.2%. Mar PCE deflator expected +2.2% y/y, Feb +2.3% y/y. Mar core PCE deflator expected +0.2% m/m and +1.9% y/y, Feb +0.1% m/m and +1.9% y/y.

0945 ET Apr Chicago PMI expected -1.7 to 60.5, Mar -1.8 to 62.2.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1730 ET Dallas Fed President Richard Fisher speaks on a panel titled “Jobs for America” at the 2012 Milken Institute Global Conference.

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