Dow Up Again: Market Happenings for Tuesday, August 07, 2012

At this moment, the Dow is up +77 at 13,194. The S&P 500, Nasdaq and Russell 2000 are all up too.

The Market

Stocks leading the Dow charge higher this morning include JPM (+3.71%), BAC (+2.11%), CAT (+1.95%) and CSCO (+1.86%). I mention CSCO only because they are up. Personally, I’m ticked off with Cisco as I was up super late last night fixing my Cisco router. I think it’s working correctly again. My fingers are crossed anyway.

Losers include PFE (-1.44%), JNJ, MRK, VZ, T and KO. If you haven’t noticed, all the names just mentioned have all been at 52 week highs recently. Also did you notice that the top two leaders were banks. Banks leading a charge higher is usually “a good thing” to quote you know who.

Remember Walt Disney (DIS) reports earnings after the close today.

Home Depot is on tap for earnings next week on the 14th before the market open.

Earnings Reports

Earnings reports: DIS-Walt Disney (Consensus $0.93), CVS-CVS Caremark (0.80), ESRX-Express Scripts (0.82), EMR-Emerson Electric (1.00), PCLN-Priceline (7.36), FE-FirstEnergy (0.64), PCG-PG&E Corp (0.82), MMC-Marsh & McLennan (0.58), ETE-Energy Transfer (0.46), SIRI-Siruis XM Radio (0.02), CHTR-Charter Communications (-0.21), CHD-Church & Dwight (0.55), EXPD-Expeditors (0.43), TAP-Molson Coors (1.20), NUAN-Nuance Communications (0.40), XL-XL Group (0.55), RAX-Rackspace Hosting (0.18), Transdigm (1.70), MPEL-Melco Crown (0.17), OAK-Oaktree Capital (0.61), MGM-MGM Resorts (-0.15).

Financial Calendar

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

0855 ET Redbook weekly retailer sales.

1130 ET Weekly 4-week T-bill auction.

1300 ET Treasury auctions $32 billion of 3-year T-notes.

1430 ET Fed Chairman Bernanke speaks in Washington DC on financial education.

1500 ET Jun consumer credit expected +$11.0 bln, May +$17.118 bln.

1630 ET API weekly U.S. oil statistics.

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