Market Happenings For Wednesday, September 26, 2012

Premarket, futures are mixed. Gainers this morning include BIIB (+2.47%), CCL, COH, GT and SPLS while losers include JBL (-5.10%), ANR, SNDK, CHK and NUE.

The Market

This morning my computer says we have XOM, PFE, PG and MRK having made 52 week highs.

My computer also says HPQ hit a new 52 week low and is currently sitting at $16.71.

Euro markets are down this morning and Asian markets closed lower.

There is also some major protesting and demonstrations (rioting) in Greece and Spain.

Thousands of demonstrators took to the streets in Greece to protest the new austerity measures. In Spain, anti-austerity protests in Madrid have turned violent ahead of the Spanish government’s intended release of its 2013 budget plans.

Mortgage applications increased 2.8% last week compared to the previous one, according to the Mortgage Bankers Association.

New High of the Day – Pfizer (PFE).

Earnings Reports

Earnings reports (estimates): FUL-HB Fuller ($0.53), WOR-Worthington Industries (0.47), PRGS-Progress Sofware (0.22)

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -0.2%, purchase sub-index -3.8%, refi sub-index +0.8%.

1030 ET DOE Weekly Petroleum Status Report.

1000 ET Aug new home sales expected +2.2% to 380,000, July +3.6% to 372,000.

1300 ET Treasury auction of $35 billion in 5-year T-notes.

1315 ET Chicago Fed President Charles Evans speaks in Hammond, Indiana at Lake Shore Chamber of Commmerce.

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