Market Happenings For Tuesday, July 30, 2013

Dow stocks at 52 week highs include only Johnson & Johnson (JNJ) There are no Dow stock 52 week lows.

The Market

Monday the Dow closed down -36.86 (-0.24%) at 15,521.97.

This morning the Dow was indicated to open up +31 points.

Year-to-date the Dow is up +18.45%.

Merk (MRK) reported Q2 EPS of 84 cents, higher than consensus of 82 cents.

Pfizer (PFE) reported Q2 EPS of 56 cents, higher than consensus of 55 cents.

Alcoa (AA) was up premarket after U.S. Steel (X) reported a narrower than expected loss and also on its newly announced $1 billion accelerated buyback program.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 1 percent on a seasonally adjusted basis, less than economists’ forecast for a 1.5 percent increase. That marked a slower pace than April’s 1.7 percent rise. On a non-adjusted basis, prices rose 2.4 percent. Compared to last May, prices also fell short of expectations, rising 12.2 percent from a year earlier. However, this was the biggest annual gain since March 2006, matching a record set in April.

The Federal Reserve begins its two-day meeting today.

On Friday the Labor Department will release its July jobs report

European markets are mixed and Asian markets ended lower.

The national average price of gasoline is down seven-tenths of a cent to $3.624 per gallon.

Earnings Reports

Merck (MRK) reports earnings on 7/30/2013 before the market open.

Pfizer (PFE) reports earnings on 7/30/2013 before the market open.

Exxon Mobil (XOM) will report earnings on 8/1/2013 before the market open.

Proctor & Gamble (PG) will report earnings on 8/1/2013 before the market open.

Chevron (CVX) reports earnings on 8/2/2013 before the market open.

Disney (DIS) reports earnings on 8/6/2013 after the market close.

Earnings reports from Monday include:

Herbalife (HLF) reported second quarter EPS of $1.41 vs. $1.18 expected on revenue of $1.22 billion vs. $1.16 billion expected.

Roper Industries (ROP) reported second quarter EPS of $1.16 vs. $1.30 expected on revenue of $784 million vs. $806.67 million expected.

Wynn Resorts (WYNN) reported second quarter EPS of $1.51 vs. $1.57 expected on revenue of $1.33 billion vs. $1.34 billion expected.

U.S. Steel (X) reported a second quarter loss of $0.54 per share vs. an expected loss of $0.79 per share on revenue of $4.43 billion vs. $4.61 billion expected.

Other stocks expected to report earnings today include:

Merck (MRK) is expected to report second quarter EPS of $0.83 vs. $1.05 a year ago on revenue of $11.22 billion vs. $12.31 billion a year ago.

Pfizer (PFE) is expected to report second quarter EPS of $0.55 vs. $0.62 a year ago on revenue of $13.03 billion vs. $15.06 billion a year ago.

Aetna (AET) is expected to report second quarter EPS of $1.40 vs. $1.31 a year ago on revenue of $11.9 billion vs. $8.83 billion a year ago.

BP (BP) is expected to report second quarter EPS of $1.13 vs. $1.16 a year ago on revenue of $62.35 billion vs. $99.34 billion a year ago.

Dollar General (DG) is expected to report second quarter EPS of $0.74 vs. $0.69 a year ago on revenue of $4.36 billion vs. $3.95 billion a year ago.

Alcoa Inc. (AA).

Alcoa Inc. (AA) is up -7.37% year-to-date.

Financial Calendar

0900 ET May S&P/CaseShiller composite-20 home price index expected +1.4% m/m and +12.4% y/y, Apr +1.7% m/m and +12.1% y/y.

1000 ET July U.S. consumer confidence (Conference Board) expected -0.1 to 81.3, Jun +7.1 to 81.4.

1100 ET FOMC begins 2-day policy meeting.

1630 ET API weekly U.S. oil statistics.

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