Bank of America (BAC) reported third-quarter net earnings of $340 million, or nil per share, for the quarter, compared with $6.2 billion, or 56 cents a share, in the same period a year earlier, when the sale of assets and accounting benefits boosted earnings. Estimates I’ve seen are for -$0.07 to $0.16 per share, so you’ll have to decide how they did. Shares are up a wee bit premarket.
Yesterday we had 52 week new highs from WMT, JNJ, PFE, MRK and TRV.
European stocks were higher in midday trading and Asian markets ended higher.
The national average price of gasoline are down 1.7 cents to $3.756 per gallon.
Earnings reports (estimates): ABT-Abbott Labs ($1.28), PEP-Pepsico (1.16), BAC-Bank of America (0.16), AXP-American Express (1.09), USB-US Bancorp (0.73), EBAY-Ebay (0.55), KMI-Kinder Morgan (0.28), BLK-Blackrock (3.32%), HAL-Haliburton (0.58), BK-Bank NY Mellon (0.54), SYK-Stryker (0.98), STJ-St Jude Medical (0.81), MTB-M&T Bank Corp (1.86), SWK-Stanley Black (1.45), NTRS-Northern Trust (0.74), DOV-Dover Corp (1.29), DGX-Quest Diagnostic (1.18), CHKP-Check Point Software (0.78), APH-Ampheno (0.89), NE-Noble (0.48), XLNX-Xilinx (0.41).
0700 ET Weekly MBA mortgage applications, previous -1.2% with purchase sub-index +2.4% and refi sub-index -2.0%.
0830 ET Sep housing starts expected +2.7% to 770,000, Aug +2.3% m/m to 750,000. Sep building permits expected +1.1% to 810,000, Aug -1.0% to 801,000.
1030 ET DOE Weekly Petroleum Status Report.