Walt Disney Reports Earnings: Market Happenings For Wednesday, May 08, 2013

Dow stocks at 52 week highs include Bank of America (BAC), Walt Disney (DIS), Boeing (BA) and Dupont (DD). There are no Dow stock 52 week lows.

The Market

Tuesday the Dow closed up +87.31 (+0.58%) at 15,056.20 another closing high.

The S&P 500 is also at record highs.

This morning the Dow is indicated to open up +4 points.

Disney (DIS) reported Q2 earnings better than consensus and RBC Capital raised its price target on the stock to $71 from $63.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is up 1.4 cents to $3.539 per gallon.

Earnings Reports

Disney (DIS) reported Q2 EPS ex-items of 79 cents, better than consensus of 76 cents on revenue of $10.6 billion vs. $10.48 billion expected.

Cisco (CSCO) reports earnings on 5/15/13 after the market close.

Wal-Mart (WMT) reports earnings on 5/16/13 before the market open.

American Express (AXP).

Time for a leg down inside that channel for AXP?

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +1.8% with purchase sub-index -1.4% and refi sub-index +2.8%.

0830 ET Fed Governor Jeremy Stein speaks on a panel at a Chicago Fed conference on “Dollar Funding and the Lending Behavior of Global Banks.”

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $24 billion 10-year T-notes.

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