The Dow Market Happenings For Wednesday, October 29, 2014

Dow stocks at 52 week highs include Nike (NKE), Home Depot (HD) Procter & Gamble, Travelers (TRV), 3M (MMM) and UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +12 points.

Tuesday, the Dow closed up +187.81 (+1.12%) at 17,005.75.

Year-to-date the Dow is up +2.59%.

There were 27 Dow stock winners Tuesday.

Dow stock winners Tuesday included Caterpillar (CAT) +2.66% and United Technologies (UTX) +2.00%.

Dow stock losers Tuesday included Merck (MRK) -1.06%, Coca Cola (KO) -0.49% and Walmart (WMT) -0.31%.

Pfizer (PFE) reported Q3 EPS of 57 cents, better than consensus of 55 cents.

On Wednesday, the Fed is widely expected to announce the conclusion of its massive stimulus program.

So, we’re back to Dow 17,000. Next stop 18,000?

European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down 1.1 cents at $3.023 per gallon.

Earnings Reports.

Johnson & Johnson (JNJ) will report earnings on 10/14/14 before the market open.

JPMorgan (JPM) will report earnings on 10/14/14 before the market open.

Intel (INTC) will report earnings on 10/14/14 after the market close.

American Express (AXP) reports earnings on 10/15/14 after the market close.

Goldman Sachs (GS) will report earnings on 10/16/14 before the market open.

United Health (UNH) will report earnings on 10/16/14 before the market open.

International Business Machines (IBM) will report earnings on 10/16/14 after the market close.

General Electric (GE) will report earnings on 10/17/14 before the market open.

Coca Cola (KO) will report earnings on 10/21/14 before the market open.

McDonald’s (MCD) will report earnings on 10/21/14 before the market open.

Travelers (TRV) will report earnings on 10/21/14 before the market open.

United Technologies (UTX) will report earnings on 10/21/14 before the market open.

Verizon (VZ) will report earnings on 10/21/14 before the market open.

Boeing will report earnings on 10/22/14 before the market open.

AT&T (T) will report earnings on 10/22/14 after the market close.

3M (MMM) will report earnings on 10/23/14 before the market open.

Caterpillar (CAT) will report earnings on 10/23/14 before the market open.

Microsoft (MSFT) will report earnings on 10/23/14 after the market close.

Procter & Gamble (PG) will report earnings on 10/24/14 before the market open.

Merck (MRK will report earnings on 10/27/14 before the market open.

Dupont (DD) will report earnings on 10/28/14 before the market open.

Pfizer (PFE) will report earnings on 10/28/14 before the market open.

Visa (V) will report earnings on 10/29/14 after the market close.

Exxon Mobil will report earnings on 10/31/14 before the market open.

Chevron (CVX) will report earnings on 10/31/14 before the market open.

Disney (DIS) will report earnings on 11/6/14 after the market close.

Notable earnings reports from Tuesday include:

Pfizer Inc. (PFE) reported third quarter EPS of $0.57 on revenue of $12.36 billion, compared to last year’s EPS of $0.58 on revenue of $12.58 billion.

Express Scripts Holding Company (ESRX) reported third quarter EPS of $1.29 on revenue of $25.78 billion, compared to last year’s EPS of $1.08 on revenue of $25.92 billion.

Facebook Inc (FB) reported third quarter EPS of $0.43 on revenue of $3.20 billion, compared to last year’s EPS of $0.25 on revenue of $2.02 billion.

Gilead Sciences, Inc. (GILD) reported third quarter EPS of $1.84 on revenue of $6.04 billion, compared to last year’s EPS of $0.52 on revenue of $2.78 billion.

Stocks reporting earnings today include:

Kraft Foods Group Inc (KRFT) is expected to report third quarter EPS of $0.74 on revenue of $4.47 billion, compared to last year’s EPS of $0.65 on revenue of $4.39 billion.

Phillips 66 (PSX) is expected to report third quarter EPS of $1.75 on revenue of $48.36 billion, compared to last year’s EPS of $0.87 on revenue of $44.20 billion.

Metlife Inc (MET) is expected to report third quarter EPS of $1.38 on revenue of $17.72 billion, compared to last year’s EPS of $1.34 on revenue of $16.90 billion.

WellPoint Inc (WLP) is expected to report third quarter EPS of $2.26 on revenue of $18.72 billion, compared to last year’s EPS of $2.10 on revenue of $16.90 billion.

Today’s Featured Dow Stock

Caterpillar Inc. (CAT)

Caterpillar Inc. (CAT) is up +11.40% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous +11.6% with purchase sub-index -4.6% and the refi sub-index +23.3%.

1030 ET EIA Weekly Petroleum Status Report.

1130 ET Treasury auctions $15 billion 2-year floating-rate notes.

1300 ET Treasury auctions $35 billion 5-year T-notes.

1400 ET FOMC meeting announcement: no change expected in fed funds rate target range of zero to 0.25%; QE3 expected to be cut by -$15 billion to zero to end the program.

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