Market Happenings for Monday, September 17, 2012

Premarket, futures are down after finishing a wonderful move last week. Gainers include JWN, AAPL, PRGO, BMY and EBAY while losers include X, CLF, ANR, SWN and PSX.

The Market

This morning we have GE, XOM, HD, CVX, PG and TRV sitting on new 52 week highs.

Last week the Dow hit a new 4 year high of 13,653.24, after the Federal Reserve said it would engage in a third round of quantitative easing, or QE3, by buying $40 billion of mortgage backed securities a month.

European stocks are down and Asian markets ended lower.

Kraft is getting booted out of the Dow and will be replace by UnitedHealth (UNH) at the end of this week.

Hey, guess what? Occupy wall street turned one year old and they are down there this morning, protesting of course.

The national average price of gasoline is down two-tenths of a cent to $3.862 per gallon.

Here’s a hot fact from the CNBC folks. Seven-Eleven (convenience stores), sells 100 million hot dogs a year.

Apple announced that it presold 2 million iPhone 5 units in 24 hours, doubling the iPhone 4S record of 1 million units.

Earnings Reports

Earnings reports : LDK-LDK Solar Co. (-$1.433 est, -$2.00 actual).

Financial Calendar

0830 ET Sep Empire manufacturing index expected +3.9 to -2.0, Aug -13.3 to -5.9.

1100 ET USDA weekly grain export inspections.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1600 ET USDA Crop Progress.

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