Dow stocks at 52 week highs include Walt Disney (DIS) and Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed up +130.63 (+0.89%) at 14,831.58.

This morning the Dow is indicated to open up +117 points.

The April Jobs report is up 165,00 with unemployment at 7.5%

Employment was up more than forecast in April and the jobless rate unexpectedly declined to a four-year low of 7.5 percent. Payrolls expanded by 165,000 workers in April following a revised 138,000 increase in March that was larger than first estimated. Median expectations were for a 140,000 gain. Revisions to the prior two months’ reports added a total of 114,000 jobs to the employment count in February and March.

Average hourly earnings rose 1.9 percent from a year earlier to $23.87.

The workweek shrank to 34.4 hours for all U.S. employees on average from 34.6 hours in March. Part of the reason may be reflected in an increase in part-time employment.

The number of employees not working a full week rose to 27.5 million from 27.4 million. Some 278,000 more employees were working part-time for economic reasons.

So, it’s looking possible we could hit 15,000 on the Dow today or Monday.

And here I sit all in cash. Maybe I’ve made a mistake. My thinking was May would be a down month. But maybe not. There was no catalyst in the April Jobs report. However, I did plan on getting back in if the chart trends straightened out on ^RUT, EEM, PSVIX and ODVYX.

European markets are higher and Asian markets ended mostly higher.

The national average price of gasoline is down three-tenths of a cent to $3.522 per gallon. Looks like it’s time to gouge the summer traveler.

Earnings Reports

Walt Disney (DIS) reports earnings on 5/7/13 after the close.

Cisco (CSCO) reports earnings on 5/15/13 after the market close.

Cisco (CSCO).

Financial Calendar

0830 ET Apr non-farm payrolls expected +148,000, Mar +88,000. Apr private payrolls expected +160,000, Mar +95,000. Apr mfg payrolls expected +5,000, Mar -3,000. Apr unemployment rate expected unch at 7.6%. Mar -0.1 to 7.6%.

0830 ET Apr avg hourly earnings expected +0.2% m/m and +1.9% y/y, Mar unch m/m and +1.8% y/y. Apr avg weekly hours expected unch at 34.6, Mar +0.1 to 34.6.

1000 ET Mar factory orders expected -3.0%, Feb +3.0%.

1000 ET Apr ISM non-manufacturing index expected -0.4 to 54.0, Mar -1.6 to 54.4.

1230 ET Fed Governor Daniel Tarullo speaks on “Evaluating Progress in Regulatory Reforms to Promote Financial Stability” at a conference in Washington D.C.

1245 ET Richmond Fed President Jeffrey Lacker speaks on the economic outlook at a meeting of the Risk Management Association of Richmond.