Market Happenings For Friday, March 22, 2013

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows. Now we are looking like a pullback.

The Market

The Dow is indicated to open up +44 this morning.

Yesterday the Dow closed down -90.24 (-0.62%) at 14,421.49.

For Cyprus the clock is ticking and the pressure is on as the European Central Bank told the troubled nation Thursday it had until Monday to find a solution.

Dow stocks indicated lower include HPQ, IBM, MSFT, PFE, PG and JPM while Dow stocks BAC, CAT, CSCO, DIS, DD, GE, HD, INTC, KO, T, VZ, WMT and UNH are indicated higher.

European markets are mostly higher and Asian markets ended mostly lower.

The national average price of gasoline is down five-tenths of a cent to $3.686 per gallon.

Earnings Reports

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

Darden Restaurants (DRI) is expected to report third quarter EPS of $1.01 vs. $1.25 a year ago.

Tiffany (TIF) is expected to report fourth quarter EPS of $1.36 vs. $1.39 a year ago.

Financial Calendar

0845 ET Fed Governor Sarah Bloom Raskin speaks on labor market at National Community Reinvestment Coalition 2013 Annual Conference in Washington DC.

1200 ET Fed revisions of industrial production and capacity utilization.

1500 ET USDA Cattle on Feed.

1500 ET USDA Cold Storage.

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