Market Happenings For Thursday, May 09, 2013

Dow stocks at 52 week highs include Bank of America (BAC), Dupont (DD) and Home Depot (HD). There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed up +48.92 (+0.32%) at 15,105.12.

This morning the Dow is indicated to open down -25 points.

Techcrunch reported that Microsoft (MSFT) may offer to buy the digital assets of Barnes and Noble’s Nook Media e-reader unit for $1 billion, prompting a 25% surge in Barnes & Noble (BKS) stock in premarket trading.

The number of Americans filing new claims for unemployment benefits dropped to its lowest level in nearly 5-1/2 years last week. Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008 according to the Labor Department. Claims for the prior week were revised to show 3,000 more applications received than previously reported. Economists had expected first-time applications to rise to 335,000 last week.

European markets are lower and Asian markets ended mostly lower.

The national average price of gasoline is up one cent to $3.549 per gallon.

Earnings Reports

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

Wal-Mart (WMT) reports earnings on 5/16/13 before the market open.

Home Depot reports earnings on 5/21/13 before the market open.

Hewlett-Packard (HP) reports earnings 5/21/13 after the market close.

Hewlett-Packard (HP).

Financial Calendar

0830 ET Weekly initial unemployment claims expected +11,000 to 335,000, previous -18,000 to 324,000. Weekly continuing claims expected -1,000 to 3.018 million, previous +12,000 to 3.019 million.

0830 ET USDA weekly Export Sales.

1000 ET Mar wholesale inventories expected +0.4%, Feb -0.3%.

1300 ET Treasury auctions $16 billion 30-year T-bonds.

1315 ET Philadelphia Fed President Charles Plosser speaks on monetary policy at the 2013 Simon NYC Conference on “Reform at a Crossroad: Economic Transformation in the Year Ahead.”

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