Dow stocks at 52 week highs include Cisco Systems (CSCO) and that’s all. There are no Dow stock 52 week lows.
The Market
Thursday the Dow closed up +80.03 (+0.53%) at 15,040.62.
This morning the Dow was indicated to open up +44 points.
The government says we added 175,000 jobs last month, just above the expected 158,000. The unemployment rate ticked a tenth of a percentage point higher to 7.6 percent, driven by more workers entering the labor force. May was the third straight month that payrolls outside the farm sector increased by less than 200,000. April
JPMorgan (JPM) was downgraded to “Neutral” from “Outperform” at Macquarie.
AT&T (T) shares are down premarket despite the company reaffirming its full year outlook after the close Thursday.
Year-to-date the Dow is up +14.78%.
European markets are mostly higher and Asian markets ended lower.
The national average price of gasoline is up three-tenths of a cent to $3.633 per gallon.
Earnings Reports
There are no Dow stocks on the horizon set to report earnings.
Earnings reports from yesterday include:
Cooper Companies (COO) reported second quarter EPS of $1.52 vs. $1.38 expected on revenue of $384.00 million.
CIENA Corp. (CIEN)reported second quarter EPS of $0.02 vs. an expected loss of $0.01 per share on revenue of $507.7 million vs. $483.34 million expected.
Quiksilver (ZQK) reported a second quarter loss of $0.12 per share vs. expected EPS of $0.04 on revenue of $458.7 million vs. $505.4 million expected.
Mad Catz (MCZ) reported a fourth quarter loss of $0.04 per share vs. an expected profit of $0.04 per share.
J.M. Smucker (SJM) reported fourth quarter EPS of $1.29 vs. $1.15 expected on revenue of $1.34 billion, in line with expectations.
Titan Machinery (TITN) reported a first quarter loss of $0.02 per share, in line with expectations, as revenues were $441.7 million vs. $441.78 million expected.
Other stocks expected to report earnings today include:
JinkoSolar Holdings (JKS) is expected to report a first quarter loss of $0.07 per share vs. a loss of $0.38 per share a year ago.
Financial Calendar
0830 ET May non-farm payrolls expected +168,000, Apr +165,000. May private payrolls expected +179,000, Apr +176,000. May manufacturing payrolls expected +4,000, Apr unch. May unemployment rate expected unch at 7.5%, Apr -0.1 to 7.5%.
0830 ET May avg hourly earnings expected +0.2% m/m and +2.1% y/y, Apr +0.2% m/m and +1.9% y/y. May avg weekly hours expected +0.1 to 34.5, Apr -0.2 to 34.4.
1500 ET Apr consumer credit expected +$13.4 billion, Mar +$7.966 billion.