Market Happenings For Monday, May 13, 2013

Dow stocks at 52 week highs include Dupont (DD), Walt Disney (DIS), Home Depot (HD) and 3M (MMM). There are no Dow stock 52 week lows.

The Market

Friday the Dow closed up +35.87 (+0.24%) at 15,118.49.

This morning the Dow is indicated to open down -15 points.

Friday there were 7 Dow stocks in the losing column and 23 gainers.

Dow stock leaders Friday included HPQ +1.70%, UNH, CSCO, MRK, BAC and DIS.

Dow stock losers were CAT -1.48%, AA, XOM, BA, CVX, AXP and JPM.

Last week DJIA was up +1.0%, Nasdaq +1.7%, S&P 500 +1.2% and Russell 2000 +2.2%.

Year-to-date DJIA is up +15.4%, Nasdaq +13.8%, S&P 500 +14.5% and Russell 2000 +14.8%.

Cisco Systems (CSCO) was upgraded to “Market Perform” from “Underperform” at FBR Capital who also raised their price target on the stock to $19 from $17.

A Wall Street Journal report over the weekend suggested that the Federal Reserve may start winding down its bond buying program sooner than expected.

European markets are lower and Asian markets ended mixed.

The national average price of gasoline is up 1.6 cents over the weekend to $3.579 per gallon. Here in Gig Harbor, I paid $3.82 per gallon at Costco and are up around 40 cents in the last few weeks.

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 5/22/13 after the market close.

Cisco Systems (CSCO).

Financial Calendar

0830 ET Apr retail sales expected -0.3%, Mar -0.4%. Apr retail sales less autos expected -0.2%, Mar -0.4%.

1000 ET Mar business inventories expected +0.3%, Feb +0.1%.

1100 ET USDA weekly grain export inspections.

1600 ET USDA Crop Progress.

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