Market Happenings For Monday, June 10, 2013

Dow stocks at 52 week highs include Boeing (BA) and American Express (AXP). There are no Dow stock 52 week lows.

The Market

Friday the Dow closed up +207.50 (+1.38%) at 15,248.12.

This morning the Dow was indicated to open up +51 points.

Last week DJIA was up +0.9%, Nasdaq +0.4%, S&P 500 +0.8% and Russell 2000 +0.4%.

Year-to-date DJIA is up +16.4%, Nasdaq +14.9%, S&P 500 +15.2% and Russell 2000 +16.3%.

U.S. stocks finished higher Friday after the Labor Department’s monthly report showed the economy added 175,000 jobs in May, more than the 158,000 economists had expected. The unemployment rate edged up to 7.6%.

Federal Reserve Chairman Ben Bernanke has said that the central bank will begin pulling back on its stimulus monetary policies when the job market shows sustainable improvement.

AT&T (T) was upgraded to “Buy” from “Hold” at Argus with a price target of $42.

Year-to-date the Dow is up +16.4%.

European markets are mostly higher and Asian markets ended mostly higher.

The national average price of gasoline is up two-tenths of a cent over the weekend to $3.635 per gallon.

Earnings Reports

There are no Dow stocks on the horizon set to report earnings.

Earnings reports from Friday include:

JinkoSolar Holdings (JKS) reported a first quarter loss of $0.56 per share vs. a loss of $1.66 per share expected on revenue of $187.3 million vs. $168.25 million expected.

Other stocks expected to report earnings today include:

Cliffs Natural Resources (CLF) shares slipped 0.45 percent pre-market as the natural resources company declined weak data from China.

3M (MMM) shares gained 0.8 percent, extending Friday’s 2.25 percent gain after Jefferies boosted its price target on the stock to $128 from $120 and maintained the stock at a buy.

Salesforce.com (CRM) shares gained 0.48 percent pre-market, recouping some of the losses seen after announcing the acquisition of ExactTarget (NYSE: ET) for $2.5 billion in cash. Analysts were out in defense of the stock following the drop early last week.

Financial Calendar

0950 ET St. Louis Fed President Jim Bullard speaks at the International Economic Forum of the Americas in Montreal on the topic, Global Economy: Toward a Sustainable Recovery?

1100 ET USDA weekly grain export inspections.

1600 ET USDA Crop Progress.

Both comments and pings are currently closed.

Comments are closed.


Warning: Invalid argument supplied for foreach() in /home/customer/www/dow-jones-djia.com/public_html/wp-includes/script-loader.php on line 2740