The Dow Market Happenings For Wednesday, December 3, 2014

Dow stocks at 52 week highs includes Disney (DIS), Cisco (CSCO), Procter & Gamble (PG) and UnitedHealth (UNH). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -4 points.

Tuesday, the Dow closed up +102.75 (+0.58%) at 17,879.55.

Year-to-date the Dow is up +7.86%.

There were 21 Dow stock winners Tuesday.

Dow stock winners Tuesday included Chevron (CVX) +2.05% and Exxon Mobil (XOM) +1.9%. Top gainers two days in a row.

Dow stock losers Tuesday included AT&T (T) -2.20% and Verizon (VZ) -1.84%.

Payroll processor ADP said Wednesday that companies added 208,000 jobs in November, the third straight month that hiring has topped 200,000.

Economists forecast that the government’s figures will show that employers added 225,000 jobs in November with the unemployment rate declining to 5.7 percent from 5.8 percent.

Oil prices are rising about 1% to $67.40 a barrel in electronic trade after taking a beating following OPEC’s decision not to cut production last week.

Tuesday, Sprint made a bold move by announcing it would allow customers to pay half of their current bills with AT&T (T) or Verizon (VZ). The offer is set to begin on Friday.

European stocks are mostly higher and Asian markets ended mostly higher.

The national average price of gasoline is down 1.4 cents at $2.746 per gallon.

Earnings Reports.

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

Notable earnings reports from Tuesday include:

Bob Evans Farms Inc. (BOBE) reported second-quarter EPS of $0.36 on revenue of $333.30 million, compared to last year’s EPS of $0.35 on revenue of $332.60 million.

Bank of Montreal, USA (BMO) reported fourth-quarter EPS of $1.63, compared to last year’s EPS of $1.64 on revenue of $4.19 billion.

OmniVision Technologies, Inc. (OVTI) reported second-quarter EPS of $0.60 on revenue of $394.00 million, compared to last year’s EPS of $0.60 on revenue of $397.25 million.

Stocks reporting earnings today include:

Abercrombie & Fitch Co. (ANF) is expected to report third-quarter EPS of $0.41 on revenue of $916 million, compared to last year’s EPS of $0.52 on revenue of $1.03 billion.

PVH Corp (PVH) is expected to report third-quarter EPS of $2.48 on revenue of $2.26 billion, compared to last year’s EPS of $2.30 on revenue of $2.26 billion.

Royal Bank Of Canada (RY) is expected to report fourth-quarter EPS of $1.59 on revenue of $8.53 billion, compared to last year’s EPS of $1.31 on revenue of $7.97 billion.

Today’s Featured Dow Stock

Wal-Mart Stores Inc. (WMT)

Wal-Mart Stores Inc. (WMT) is up +9.80% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -4.3% with purchase sub-index -4.8% and refi sub-index -3.5%.

0815 ET Nov ADP employment change expected +222,000, Oct +230,000.

0830 ET Revised Q3 non-farm productivity expected +2.4% vs previous +2.0%. Revised Q3 unit labor costs expected 0.2%, previous +0.3%.

0945 ET Revised Nov Markit services PMI expected +0.2 to 56.5, prelim-Nov -0.8 to 56.3. Revised Nov Markit composite PMI, prelim-Nov was -1.1 to 56.1.

1000 ET Nov ISM non-manufacturing index expected +0.4 to 57.5, Oct -1.5 to 57.1.

1030 ET EIA Weekly Petroleum Status Report.

1230 ET Philadelphia Fed President Charles Plosser speaks on the economic outlook at the Charlotte City Club.

1400 ET Fed Beige Book.

1400 ET Fed Governor Lael Brainard speaks on financial stability at the Brookings Institution.

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