For Dow stocks, AXP, BA, CVX, JNJ and MMM are all at 52 week highs. There are no Dow stock 52 week lows.
The Market
Tuesday, the Dow closed up a couple of points at 14,450.06 and made it’s sixth straight day of record highs.
This morning we are up +11, but we have now had eight straight days higher.
Will the Dow winning streak have nine lives?
Boeing (BA) was given the go-ahead by the FAA to test its new battery casing as it looks to get the grounded 787 Dreamliner’s back in the air.
Americans spent at the fastest pace in five months in February, boosting retail spending +1.1 percent compared with January. About half the jump reflected higher gas prices, but even excluding gas purchases, retail sales were up 0.6 percent.
European markets are mostly lower and Asian markets ended mostly lower.
The national average price of gasoline is up three-tenths of a cent to $3.706 per gallon.
Earnings Reports
There are no Dow stocks set to announce earnings in the near term.
Express Inc. (EXPR) is expected to report fourth quarter EPS of $0.74 vs. $0.70 a year ago.
Guess? (GES) is expected to report fourth quarter EPS of $0.87 vs. $1.05 a year ago.
Complete Genomics (GNOM) is expected to report a fourth quarter loss of $0.53 per share vs. a loss of $0.67 per share a year ago.
Hot Topic (HOTT) is expected to report fourth quarter EPS of $0.27 vs. $0.21 a year ago.
The Men’s Warehouse (MW) is expected to report a fourth quarter loss of $0.05 per share vs. a loss of $0.05 per share a year ago.
Financial Calendar
0700 ET Weekly MBA mortgage applications, previous +14.8% with purchase sub-index +15.0% and refi sub-index +14.8%.
0830 ET Feb import price index expected +0.5% m/m, Jan +0.6% m/m and -1.3% y/y.
0830 ET Feb retail sales expected +0.5% m/m, Jan +0.1% m/m. Feb retail sales ex-autos expected +0.5% m/m, Jan +0.2% m/m. Feb retail sales ex-autos and ex-gas expected +0.3% m/m, Jan +0.2% m/m.
1000 ET Jan business inventories expected +0.3%, Dec +0.1%.
1030 ET DOE Weekly Petroleum Status Report.
1300 ET Treasury auction of $21 billion in 10-year T-notes.