Market Happenings For Thursday, April 11, 2013

Dow stocks at 52 week highs include DIS, KO, MCD, MMM, PFE, PG and VZ. There are no Dow stock 52 week lows.

The Market

The Dow opened down -6.

The Dow is trading now above 14,800. Now, on to 15,000.

The number of Americans filing new claims for unemployment benefits fell more than expected last week, after a surprise stumble in job growth in March. Initial claims for state unemployment benefits dropped 42,000 to a seasonally adjusted 346,000, unwinding a jump in the prior week that appeared related to difficulties adjusting the data for seasonal variations. Claims are now back at the lower end of their range for this year. Data for the week ended March 30 was revised to show 3,000 more applications than previously reported. Economists had expected first-time applications to fall to 365,000 last week.

Microsoft (MSFT) was downgraded to Sell from Neutral at Goldman Sachs and cut its target to $27 from $30 due to weakening PC trends. MSFT and HPQ are down on that news.

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

The national average price of gasoline is down a eight-tenths of a cent to $3.564 per gallon.

Earnings Reports

The next Dow stock to report earnings will be JPMorgan on Friday. Others known are listed below.

AXP will report earnings on 4/17/13 after the market close.

BAC will report earnings on 4/17/13 before the market open.

CAT will report earnings 4/22/13 before the market open.

DD will report earnings on 4/23/13 before the market open.

GE wil report earnings 4/19/13 before the market open.

IBM will report earnings on 4/18/13 after the market close (not confirmed).

INTC will report earnings on 4/16/13 after the market close.

JNJ will report earnings on 4/16/13 before the market open.

JPM is set to report earnings on 4/12/13 before the open (not confirmed).

KO will report earnings on 4/16/13 before the market open.

MCD will report 4/19/13 before the market open.

MSFT will report earnings on 4/18/13 after the market close.

T will report earnings on 4/23/13 after the market close.

TRV will report earnings on 4/23/13 before the market open.

UNH will report earnings on 4/18/13 before the market open.

UTX will report earnings on 4/23/13 efore the market open.

VZ will report earnings on 4/18/13 before the market open.

Financial Calendar

0600 ET Philadelphia Fed President Charles Plosser speaks on monetary policy in Hong Kong at the Market News International Economic Seminar.

0830 ET Weekly initial unemployment claims expected -25,000 to 360,000, previous +28,000 to 385,000. Weekly continuing claims expected +7,000 to 3.070 mln, previous -8,000 to 3.063 mln.

0830 ET March import price index expected -0.5% m/m and -1.9% y/y, Feb +1.1% m/m and -0.3% y/y.

0830 ET USDA weekly Export Sales.

0830 ET St. Louis Fed President James Bullard gives welcoming remarks in Washington at 2013 Federal Reserve System Community Development Research Conference Resilience & Rebuilding for Low-Income Communities: Research to Inform Policy.

0900 ET Treasury announces 5-year TIPS auction for April 18.

1300 ET Treasury sells $13 billion of 30-year T-bonds.

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