Market Happenings For Monday, July 08, 2013

Dow stocks at 52 week highs include only Boeing (BA), closing Friday at $104.20, up +1.27%.. There are no Dow stock 52 week lows.

The Market

Friday the Dow closed up +147.29 (+0.98%) at 15,135.84.

This morning the Dow was indicated to open up +69 points.

Last week DJIA was up +1.5%, Nasdaq +2.2%, S&P 500 +1.6% and Russell 2000 +2.9%.

Year-to-date DJIA is up +15.5%, Nasdaq +15.2%, S&P 500 +14.4% and Russell 2000 +18.4%.

Dow component Alcoa (AA) gets things started after the bell tonight and is expected to report earnings of $0.08 per share on $5.92 billion in revenue compared to $0.06 per share on $5.96 billion in sales during the second quarter of 2012.

AT&T (T) and Chernin Group submitted a joint bid for Hulu, according to Bloomberg.

Intel (INTC) was downgraded to “Underweight” from “Equal Weight” at Evercore.

UnitedHealth (UNH) received a favorable mention in Barron’s, which said that UnitedHealth could jump 40% over two years since the insurer with its size can focus on boosting its profit margin rather than gaining market share.

European markets are higher and Asian markets ended lower.

The national average price of gasoline over the weekend is down two-tenths of a cent to $3.474 per gallon.

Earnings Reports

Alcoa (AA) will report earnings on 7/8/2013 after the market close.

UnitedHealth (UNH) will report earnings on 7/11/2013 before the market open (unconfirmed).

JPMorgan (JPM) will report earnings on 7/12/2013 before the market open.

Johnson & Johnson (JNJ) will report earnings on 7/16/2013 before the market open.

Coca Cola (KO) will report earnings on 7/16/2013 before the market open.

American Express (AXP) reports earnings on 7/17/2013 after the market close.

Bank of America (BAC) reports earnings on 7/17/2013 before the market open.

International Business Machines (IBM) reports earnings on 7/17/2013 after the market close.

Intel Corp. (INTC) reports earnings on 7/17/2013 after the market close.

Microsoft (MSFT) reports earnings on 7/18/2013 after the market close.

Verizon (VZ) reports earnings on 7/18/2013 before the market open

Earnings reports from Friday include:

There were no earnings reports of note.

Other stocks expected to report earnings today include:

Alcoa (AA) is expected to report second quarter EPS of $0.08 vs. $0.06 a year ago on revenue of $5.92 billion vs. $5.96 billion a year ago.

WD40 Company (WDFC) is expected to report third quarter EPS of $0.56 vs. $0.57 a year ago on revenue of $89.45 million vs. $87.02 million a year ago.

McDonald’s Corp. (MCD).

McDonald’s Corp. (MCD) is up +13.31% year-to-date.

Financial Calendar

1100 ET USDA weekly grain export inspections.

1500 ET May consumer credit expected +$12.5 billion, Apr +$11.058 billion.

1600 ET USDA Crop Progress.

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