Market Happenings For Thursday, March 07, 2013

For Dow stocks, BA, CSCO, CVX, DIS, GE, JNJ, JPM, MMM and PFE are all at 52 week highs. There are no Dow stock 52 week lows.

The Market

Wednesday, the Dow made new a new high and closed up, at 14,296.24.

Premarket, the Dow is indicated to open up +28.

The number of Americans seeking unemployment aid fell by 7,000 last week, driving the four-week average to the lowest point in five years.

The European Central Bank and the Bank of England announced they would keep their rates unchanged.

Friday brings us the jobs report.

European markets are up and Asian markets ended mostly lower.

The national average price of gasoline is down eight-tenths of a cent to $3.719 per gallon.

Earnings Reports

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

Cedar Realty Trust (CDR) is expected to report quarterly EPS of $0.09 vs. $0.12 a year ago.

Fly Leasing (FLY) is expected to report quarterly EPS of $0.78 vs. $0.80 a year ago.

Pandora (P) is expected to report quarterly EPS of -$0.5 vs. -$0.3 a year ago.

Workday (WDAY) is expected to report quarterly EPS of -$0.21.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +11,000 to 355,000, previous -22,000 to 344,000. Weekly continuing claims expected +46,000 to 3.120 mln, previous -91,000 to 3.074 mln.

0830 ET Feb Challenger job cuts, Jan -24.4% y/y.

0830 ET Jan U.S. trade deficit expected -$42.6 bln, Dec -$38.5 bln.

0830 ET Final-Q4 non-farm productivity expected -1.6%, previous -2.0%. Final-Q4 unit labor costs expected +4.3%, prelim +4.5%.

0830 ET USDA weekly Export Sales.

0900 ET Treasury announces details of 3-year, 10-year and 30-year auctions for March 12-14.

1200 ET U.S. Q4 household change in net worth, Q3 $1.722 trillion.

1500 ET Jan consumer credit expected +$14.85 bln, Dec +$14.595 bln.

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