kol Market Happenings For Wednesday, July 10, 2013

Dow stocks at 52 week highs include Boeing (BA), Cisco (CSCO), 3M (MMM) and United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Tuesday the Dow closed up +75.65 (+0.50%) at 15,300.34

This morning the Dow was indicated to open up +16 points.

Hewlett-Packard (HPQ) shares were up premarket after Brean Capital raised the stock to buy from hold and announced a $32 price target.

The Federal Reserve releases the minutes of its most recent policy meeting at 2 p.m. ET.

Today we have Fed chairman Ben Bernanke’s speech before the National Bureau of Economic Research in Cambridge, Mass., scheduled after the markets close.

European markets are lower and Asian markets ended mixed.

The national average price of gasoline is up 1.8 cents to $3.501 per gallon.

Earnings Reports

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

General Electric (GE) reports earnings on 7/19/2013 before the market open.

McDonald’s (MCD) reports earnings on 7/22/2013 before the market open.

Earnings reports from Tuesday include:

Wolverine World Wide (WWW) reported second quarter EPS of $0.46 vs. $0.34 expected on revenue of $587.8 million vs. $591.03 million expected. The company also raised full year earnings guidance.

Other stocks expected to report earnings today include:

Yum! Brands (YUM) is expected to report second quarter EPS of $0.54 vs. $0.67 prior on revenue of $2.93 billion vs. $3.17 bill prior.

Family Dollar (FDO) is expected to report third quarter EPS of $1.03 vs. $1.06 on revenue of $2.57 billion vs. $2.36 billion expected.

Fastenal Company (FAST) is expected to report second quarter EPS of $0.41 vs. $0.38 prior on revenue of $857.13 million vs. $804.89 million.

PriceSmart (PSMT) is expected to report third quarter EPS of $0.64 vs. $0.52 on revenue of $568.33 million vs. $506.77 million a year ago.

Ruby Tuesday (RT) is expected to report fourth quarter EPS of $0.18 vs. $0.26 on revenue of $326.06 million vs. $363.21 million a year ago.

Alcoa (AA).

Alcoa (AA) is down -8.87%% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -11.7%, purchase sub-index -3.1% and refi sub-index -15.6%.

1000 ET May wholesale inventories expected +0.3% m/m, Apr +0.2% m/m.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $21 billion in 10-year T-notes.

1400 ET FOMC minutes from Jun 18-19 meeting.

1610 ET Fed Chairman Ben Bernanke speaks at a National Bureau of Economic Research Conference in Boston on The First 100 Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future.

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