American Express Reports: DJIA Market Close For Wednesday, October 17, 2012

The Dow closed up +5.22 (0.04%) at 13,557.00.

American Express reported net income of $1.25 billion, or $1.09 per share, for the three months ended Sept. 30. That compares with net income of $1.24 billion, or $1.03 per share, in the same period last year. Revenue rose 4 percent to $7.86 billion from $7.57 billion. Analysts were expecting earnings of $1.09 per share on revenue of $7.9 billion.

American Express shares traded up 74 cents to close at $59.37. The stock then fell 66 cents to $58.72 in aftermarket trading after the release of the earnings report.

Dow stocks making 52 week highs today include JNJ, PFE, XOM, MRK and TRV. INTC hit a new 52 week low.

Tomorrow we have earnings from TRV and VZ before the open and MSFT after the close.

The dollar was down against the euro, British pound and Japanese yen.

Oil for November delivery slipped cents 20 cents to $91.89 a barrel.

Gold futures for December delivery added $6.70 to $1,753 an ounce.

The price on the benchmark 10-year U.S. Treasury was down, pushing the yield up to 1.80% from 1.72% late Tuesday.

All in all, it was a pretty good day. I hope everyone is heavily long, as this market doesn’t seem to want to go lower.

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