Disney Reports Tonight: Market Happenings For Thursday, November 08, 2012

The Dow at this second is up +27.57 and not above 13,000. Now it’s decision time. Do I start selling my positions or do I hold on for some gains. Right now I’m feeling I should hold on. It looks like small caps have hit support and emergin markets haven’t pulled back very much at all. That’s all I own.

The Market

This morning banks are leading the Dow higher with BAC +3.78%, JPM +1.70% and AXP +1.15%.

Dow losers include VZ -0.97%, CAT, MCD, CVX, JNJ and UTX.

Disney (DIS) is also near the top of the heap, up +1.14%. It also reports earnings tonight.

Mickey D’s (McDonald’s-MCD) same store sales missed the mark I hear.

The European Central Bank held its interest rate steady at 0.75%.

The Bank of England left its interest rate unchanged and kept its asset purchase program at £375 billion.

European stocks were higher in afternoon trade and Asian markets ended sharply down.

The national average price of gasoline is up two-tenths of a cent to $3.464 per gallon.

Earnings Reports

Earnings reports (estimates): DIS-Walt Disney ($0.68), DUK-Duke Energy (1.44), PSA-Public Storage (1.07), FE-FirstEnergy (1.06), PPL-PPL Corp (0.67), KSS-Kohl’s (0.88), JWN-Norstrom (0.72), NVDA-Nvidia (0.36), CG-Carlyle Group (0.67), MCHP-Microchip Tech (0.48), CFN-Carefusion (0.41), VMC-Vulcan Materials (0.16), AAP-Advance Auto (1.21), WIN-Windstream (0.12).

Financial Calendar

0830 ET Weekly initial unemployment claims expected +2,000 to 365,000, previous -9,000 to 363,000. Weekly continuing claims expected -3,000 to 3.260 mln, previous +4,000 to 3.263 mln.

0830 ET Sep trade deficit expected -$45.0 bln, Aug -$44.2 billion.

0830 ET USDA Export Sales.

1300 ET Treasury auctions $16 billion in 30-year T-bonds.

1630 ET Weekly money supply report and Fed balance sheet.

2000 ET St. Louis Fed President James Bullard speaks on the U.S. economy and monetary policy at Washington University.

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