Market Happenings for Monday, September 24, 2012

Premarket, futures are down. Gainers this morning include GME (+7.62%), IP, LEN, RHT and MET while losers include NFLX (-3.77%), X, EXPE, BTU and MU.

The Market

Last week DJIA was down -0.1%, Nasdaq -0.1%, S&P 500 -0.4% and Russell 2000 -1.1%.

Year-to-date DJIA is up +11.1%, Nasdaq +22.1%, S&P 500 +16.1% and Russell 2000 +15.5%.

Friday ended with T, GE, CVX, PFE, MRK and PG all a hitting new 52 week highs.

There were no Dow stocks at 52 week lows.

AA will report earnings on 10/9/12 after the market close.

T reports earnings on 10/18/12 before the market open.

BAC reports earnings 10/17/12 before the market open.

CAT reports earnings 10/22/12 before the market open.

KO reports earnings 10/16/12 before the market open.

GE reports earnings 10/19/12 before the market open.

IBM reports earnings 10/16/12 after the market close.

JNJ reports earnings 10/16/12 before the market open.

JPM reports earnings 10/12/12 before the market open.

MCD reports earnings 10/19/12 before the market open.

MSFT reports earnings 10/18/12 after the market close.

TRV reports earnings 10/18/12 before the market open.

VZ reports earnings 10/18/12 before the market open.

INTC reports earnings 10/16/12 after the market close.

European markets are down in midday trading and Asian markets ended mixed.

UnitedHealth (UNH)debuts today as it replaces soon-to-be-split-up Kraft (KFT).

There has not been a daily 1% decline in the Dow in 62 trading days.

Apple (APPL) sold 5 million iPhone 5 units this weekend. This doesn’t include phones ordered online that are still in transit.

The national average price of gasoline is down six-tenths of a cent to $3.808 per gallon.

Earnings Reports

Earnings reports (estimates): PAYX-Paychex ($0.41), Red Hat (0.29), LEN-Lennar (0.29).

Financial Calendar

0830 ET Chicago Fed Aug national activity index, July -0.13.

1030 ET Dallas Fed Sep manufacturing activity index, Aug -1.6.

1100 ET USDA weekly grain export inspections.

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

1530 ET San Francisco Fed President John Williams speaks in San Francisco.

1600 ET USDA Crop Progress.

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