Market Happenings For Friday, November 08, 2013

Dow stocks at new 52 week highs include General Electric(GE) and Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Thursday the Dow closed down -152.90 (-0.97%) at 15,593.98.

Premarket, the Dow was indicated to open down -52 points.

Year-to-date the Dow is up +19.00%.

Disney (DIS -2.68%) reported Q4 EPS of 77 cents, stronger than consensus of 76 cents.

The Labor Department reported that the U.S. economy added 204,000 jobs in October, higher than the 120,000 estimate from economists. Revisions also showed an extra 60,000 jobs were created in August and September.

Personal income rose 0.5% in September, while spending edged up 0.2%.

European markets are lowerer and Asian markets ended lower.

The national average price of gasoline is down 1.1 cents to $3.211 per gallon.

Earnings Reports.

Cisco Systems Inc. (CSCO) reports earnings on 11/13/13 after the market close.

Wal-Mart Stores Inc. (WMT) reports earnings on 11/14/13 before the market open.

Home Depot (HD) will report earnings on 11/19/13 before the market open.

Earnings reports from Thursday include:

Walt Disney Company (DIS) reported third quarter EPS of $0.77 on revenue of $11.60 billion, compared to last year’s EPS of $0.68 on revenue of $10.78 billion.

Groupon, Inc. (GRPN) reported EPS of $0.02 on revenue of $595.10 million, compared to last year’s EPS of $0.03 on revenue of $568.55 million.

Health Net Inc. (HNT) reported third quarter EPS of $0.83 on revenue of $2.78 billion, compared to last year’s EPS of $0.38 on revenue of $2.78 billion.

Priceline.com Incorporated (PCLN) reported EPS of $17.33, compared to last year’s EPS of $12.40 per share on revenue of $1.71 billion.

Other stocks expected to report earnings today include:

Covidien plc. (COV) is expected to report EPS of $0.90 on revenue of $2.57 billion, compared to last year’s EPS of $1.02 per share on revenue of $3.00 billion.

Eldorado Gold Corporation (EGO) is expected to report third quarter EPS of $0.07 on revenue of $270.32 million, compared to last year’s EPS of $0.11 on revenue of $281.84 million.

Vaalco Energy Inc (EGY) is expected to report EPS of $0.34, compared to last year’s EPS of $0.13.

Today’s Featured Dow Stock

Microsoft Corp. (MSFT)

Microsoft Corp. (MSFT) is up +40.40% year-to-date.

Financial Calendar

0830 ET Oct nonfarm payrolls expected +120,000, Sep +148,000. Oct private payrolls expected +125,000, Sep +126,000. Oct manufacturing payrolls expected +5,000, Sep +2,000. Oct unemployment rate expected +0.1 to 7.3%, Sep down -0.1 to 7.2%.

0830 ET Oct avg hourly earnings expected +0.2% m/m and +2.3% y/y, Sep +0.1% m/m and +2.1% y/y. Oct avg weekly hours expected unch at 34.5 hours.

0830 ET Sep personal spending expected +0.2%, Aug +0.3%. Sep personal income expected +0.3%, Aug +0.4%. Sep PCE deflator expected +0.1% m/m and +1.0% y/y, Aug +0.1% m/m and +1.2% y/y. Sep core PCE deflator expected +0.1% m/m and +1.3% y/y, Aug +0.2% m/m and +1.2% y/y.

0955 ET Preliminary-Nov University of Michigan U.S. consumer confidence expected +1.3 to 74.5, Oct -4.3 to 73.2.

1200 ET Nov WASDE crop production report.

1200 ET Atlanta Fed President Dennis Lockhart speaks on the economic outlook at the Banking & Finance Symposium at the University of Mississippi.

1530 ET Fed Chairman Ben Bernanke speaks on a panel at the IMF that will discuss Policy Responses to Crisis.

1600 ET San Francisco Fed President John Williams speaks on the economy and monetary policy at an event in Los Angeles.

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