Market Happenings For Monday, April 01, 2013

Dow stocks at 52 week highs include JNJ, MCD and PFE. There are no Dow stock 52 week lows.

The Market

Well it’s April Fools day and the start of a new quarter

The Dow opened down -7 points or so.

The Dow closed Thursday up -52.38 (+0.36%) at 14,578.54.

AT&T (T) approved a new 300 million share repurchase program but said that it plans to slow the pace of its repurchases.

The FDA approved Johnson & Johnson’s (JNJ +0.32%) Invokana medication to treat Type 2 diabetes.

Pfizer (PFE) shares ar higher after last week’s European Commission approval of a new leukemia drug called BOSULIF.

3M (MMM +0.97%) and Avery Dennison (AVY) concluded various patent infringement and related lawsuits between the two companies.

Cisco (CSCO) increased its dividend by 3 cents to 17 cents per share.

European markets are higher and Asian markets ended lower.

The national average price of gasoline is down two-tenths of a cent to $3.634 per gallon.

Earnings Reports

The next Dow stock to report earnings will be Alcoa (AA), which will report 4/8/13 after the market close.

JPM is set to report earnings on 4/11/13 before the open (not confirmed though).

Cal-Maine Foods (CALM) is expected to report third quarter EPS today of $1.40 vs. $1.09 a year ago.

Financial Calendar

1000 ET March ISM manufacturing index expected -0.2 to 54.0, Feb +1.1 to 54.2. Mar ISM prices-paid sub-index expected -1.5 to 60.0, Feb +5.0 to 61.5.

1000 ET Feb construction spending expected +1.0% m/m, Jan -2.1% m/m.

1100 ET USDA weekly grain export inspections.

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