JPMorgan Reports Earnings: Market Happenings For Friday, April 12, 2013

Dow stocks at 52 week highs include BA, DIS, HD, JNJ, KO, MCD, MMM, PFE, PG, T and UTX. There are no Dow stock 52 week lows.

The Market

The Dow was indicated to open down -40 points and is now down -28.

The Dow and S&P 500 closed yesterday at record highs.

JPMorgan Chase & Co posted higher first-quarter profit on Friday as it spent less money on litigation, however most of its major businesses turned in mild performances and the bank’s overall revenue declined.

The U.S. government reported that retail sales dropped 0.4% in March, brought down by weakness in electronics and gasoline prices and was weaker than expected.

The Producer Price Index was down 0.6% in March, a lot more than the 0.1% economists had forecast.

European markets are down and Asian markets ended down.

The national average price of gasoline is down a six-tenths of a cent to $3.558 per gallon.

Earnings Reports

JPMorgan Chase said it earned $6.53 billion, or $1.59 a share, last quarter, compared with a profit of $4.92 billion, or $1.19 a share, a year earlier. Excluding one-time items, it earned $1.41 a share, exceeding estimates by two cents. Adjusted-revenue slid 3.4% to $25.85 billion, essentially matching forecasts

Next up are KO and INTC next Tuesday.

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.

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

0830 ET March PPI expected -0.2% m/m and +1.4% y/y, Feb +0.7% m/m and +1.7% y/y. March core PPI expected +0.2% m/m and +1.7% y/y, Feb +0.2% m/m and +1.7% y/y.

0830 ET March retail sales expected unch m/m, Feb +1.1% m/m. March retail sales ex-autos expected unch m/m, Feb +1.0% m/m. March retail sales ex-autos and gas expected +0.3% m/m, Feb +0.4% m/m.

0845 ET Boston Fed President Eric Rosengren delivers opening comments at Boston FedÂ’s 57th economic conference.

0955 ET Early-April U.S. consumer confidence index (University of Michigan) expected +0.2 to 78.8, Mar +1.0 to 78.6.

1000 ET Feb business inventories expected +0.4% m/m, Jan +1.0% m/m.

1230 ET Fed Chairman Ben Bernanke speaks at conference on low income communities.

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