Market Happenings for Tuesday, June 05, 2012

Facebook goes up, market goes up? Probably no correlation with that. Gainers this morning include AET, CMA, CHK, ZION and JOY while losers include AKAM, FAST, SBUX, GWW and S.

The Market

At this moment in time, the Dow is up +12 points and change.

Dow stock leaders include HPQ(+3.13%), BAC, JPM, CAT, AA, CSCO, INTC and TRV.

The national average price of gasoline dropped 1.5 cents to $3.570. Here in the Pacific Northwest, ours probably went up that amount. We’ve been supporting oil companies with $4.25 a gallon gas.

European stocks were mixed in afternoon trading and Asian markets ended higher.

Earnings Reports

Earnings reports (sorted by mkt cap): ULTA-Ulta Salon (consensus $0.53), UNFI-United Natural (0.56).

Financial Calendar

0700 ET Fed’s Fisher speaks in Fife, Scotland.

0745 ET ICSC (Int’l Council of Shopping Centers) weekly retailer sales.

0855 ET Redbook weekly retailer sales.

1000 ET May ISM non-manufacturing index expected unch at 53.5, Apr -2.5 to 53.5.

1130 ET Weekly 4-week T-bill auction.

1415 ET Fed’s Bullard speaks on housing in St. Louis.

1630 ET API weekly U.S. oil statistics.

1915 ET Fed’s Evans speaks to Money Marketeers in NY.

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