Market Happenings For Wednesday, March 06, 2013

For Dow stocks, AXP, BA, DIS, HD, JNJ, JPM, MMM and PFE are all at 52 week highs. There are no Dow stock 52 week lows.

The Market

Tuesday, the Dow made new a new high and closed up, at 14,253.77.

Premarket, the Dow is indicated to open up +53 at yet another new high.

The ADP National Employment Report showed that private-sector employment increased by 198,000 jobs in February, greater than the expected increase of 150,000 by economists.

Friday brings us the jobs report.

At 2 p.m. ET today, the Federal Reserve will release its Beige Book report on economic conditions.

American Express (AXP) is up premarket after announcing a new partnership with Twitter.

European markets are up and Asian markets ended higher.

The national average price of gasoline is down a cent to $3.727 per gallon.

Earnings Reports

There are no Dow stocks set to announce earnings in the near term.

American Eagle Outfitters (AEO) is expected to report fourth quarter EPS of $0.56 vs. $0.35 a year ago.

Coca-Cola Bottling Co. (COKE) is expected to report fourth quarter EPS of $0.60 vs. $0.20 a year ago.

Vail Resorts (MTN) is expected to report second quarter EPS of $1.70 vs. $1.27 a year ago.

PetSmart (PETM) is expected to report fourth quarter EPS of $1.21 vs. $0.91 a year ago.

Staples (SPLS) is expected to report fourth quarter EPS of $0.45 vs. $0.41 a year ago.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -3.8% with purchase sub-index -5.2% and refi sub-index -3.3%.

0815 ET Feb ADP employment change expected +170,000, Jan +192,000. ADP benchmark revisions.

0815 ET Philadelphia Fed President Charles Plosser speaks on U.S. economic outlook at the 2013 Economic Development Company of Lancaster County’s Annual meeting in Lancaster, PA.

1000 ET Jan factory orders expected -2.2% m/m, Dec +1.8% m/m.

1030 ET DOE Weekly Petroleum Status Report.

1400 ET Federal Reserve’s Beige Book.

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