Market Happenings For Wednesday, October 30, 2013

Dow stocks at new 52 week highs include American Express (AXP), 3M (MMM), Pfizer (PFE), Procter & Gamble (PG) and Visa (V). There are no Dow stock 52 week lows.

The Market

Tuesday the Dow closed up +111.42 (+0.72%) at 15,680.35.

Premarket, the Dow was indicated to open up +45 points.

Year-to-date the Dow is up +19.66%.

The Dow Jones industrial average Tuesday made a record closing high. The S&P 500 also closed at a record high for a third straight day, while the Nasdaq finished at its highest level since September 2000.

The ADP National Employment Report showed U.S. private-sector employers added 130,000 jobs in October, lower than economists’ expectations for the month. Economists had forecast a gain of 150,000 jobs. September’s private payrolls gains were revised down to 145,000 from the previously reported 166,000.

Today the Fed weighs in on the economy.

Visa (V) reports earnings tonight after the close.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is up one-tenth of a cent to $3.279 per gallon.

Earnings Reports.

Visa (V) reports earnings today after the market close.

Exxon Mobil (XOM) reports earnings on 10/31/13 before the market open.

Chevron (CVX) reports earnings on 11/01/13 before the market open.

Earnings reports from Tuesday include:

Pfizer, Inc. (PFE) reported third quarter EPS of $0.58 on revenue of $12.60 billion, compared to last year’s EPS of $0.53 per share on revenue of $13.98 billion.

Aetna Inc. (AET) reported third quarter EPS of $1.50 on revenue of $13.04 billion, compared to last year’s EPS of $1.55 on revenue of $8.90 billion.

Johnson Controls, Inc. (JCI) reported third quarter EPS of $0.95 on revenue of $11.05 billion, compared to last year’s EPS 0f $0.77 on revenue of $10.39 billion.

Valero Energy Corporation (VLO) reported EPS of $0.57 on revenue of $36.14 billion, compared to last year’s EPS of $1.90 on revenue of $34.73 billion.

Other stocks expected to report earnings today include:

Visa Inc. (V) is expected to report third quarter EPS of $1.85 on revenue of $3.02 billion, compared to last year’s EPS of $1.54 on revenue of $2.73 billion.

Comcast Corporation (CMCSA) is expected to report EPS of $0.61 on revenue of $16.25 billion, compared to last year’s EPS of $0.46 on revenue of $16.54 billion.

Facebook, In. (FB) is expected to report third quarter EPS of $0.18 on revenue of $1.89 billion, compared to last year’s EPS of $0.12 per share on revenue of $1.26 billion.

Marriott International (MAR) is expected to report third quarter EPS of $0.45 on revenue of $3.05 billion, compared to last year’s EPS of $0.44 on revenue of $2.73 billion.

Today’s Featured Dow Stock

Home Depot Inc. (HD)

Home Depot Inc. (HD) is up +25.30% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -0.6% with purchase sub-index +0.7% and refi sub-index-1.3%.

0815 ET Oct ADP employment change expected +150,000, Sep +166,000.

0830 ET Sep CPI expected +0.2% m/m and +1.2% y/y, Aug +0.1% m/m and +1.5% y/y. Sep CPI ex food & energy expected +0.2% m/m and +1.8% y/y, Aug +0.1% m/m and +1.8% y/y.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $29 billion of 7-year T-notes.

1400 ET FOMC policy announcement. QE3 expected unchanged at $85 billion per month ($40 billion of MBS and $45 billion of Treasury securities).

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