Dow stocks at 52 week highs include only Johnson & Johnson (JNJ) There are no Dow stock 52 week lows.
The Market
Tuesday the Dow closed down -1.38 (-0.01%) at 15,520.59.
This morning the Dow was indicated to open down -23 points.
Year-to-date the Dow is up +18.44%.
Payroll processor ADP said the private sector added 200,000 jobs in July. Economists had expected 175,000 jobs. June’s private payrolls were revised up to an increase of 198,000 from the previously reported 188,000.
The Federal Reserve ends its two-day meeting today.
The Fed will release a statement around 2 p.m. ET that could provide more insight into the current mindset of policymakers. The Fed’s various stimulus programs have played a big role in fueling the current bull market, and investors are looking for any hints about how and when its latest $85 billion-a-month bond buying spree might ease.
On Friday the Labor Department will release its July jobs report
European markets are mixed and Asian markets ended mixed.
The national average price of gasoline is up three-tenths of a cent to $3.627 per gallon.
Earnings Reports
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 Tuesday include:
Merck (MRK) reported second quarter EPS of $0.84 vs. $0.83 expected on revenue of $11.00 billion vs. $11.22 billion.
Pfizer (PFE) reported second quarter EPS of $0.56 vs. $0.55 expected on revenue of $12.97 billion vs. $13.03 billion expected.
Amgen (AMGN) reported second quarter EPS of $1.89 vs. $1.74 expected on revenue of $4.68 billion vs. $4.49 billion expected.
Aetna (AET) reported second quarter EPS of $1.52 vs. $1.41 expected on revenue of $11.54 billion vs. $11.99 billion a year ago.
Other stocks expected to report earnings today include:
CBS (CBS) is expected to report second quarter EPS of $0.72 vs. $0.65 a year ago on revenue of $3.52 billion.
Comcast (CMCSA) is expected to report second quarter EPS of $of $0.63 vs. $0.50 a year ago on revenue of $16.01 billion vs. $15.21 billion a year ago.
Hess Corp. (HES) is expected to report second quarter EPS of $1.40 vs. $1.72 a year ago on revenue of $4.62 billion vs. $9.31 billion a year ago.
Mastercard (MA) is expected to report second quarter EPS of $6.30 vs. $5.65 a year ago on revenue of $2.00 billion vs. $1.82 billion a year ago.
Metlife (MET) is expected to report second quarter EPS of $1.33, flat from a year ago, on revenue of $17.33 billion vs. $16.79 billion a year ago.
American Express Co, (AXP) is up +30.81% year-to-date.
Financial Calendar
0700 ET Weekly MBA mortgage applications, previous -1.2% with purchase sub-index -2.1% and refi sub-index -0.7%.
0815 ET July ADP employment change expected +180,000, Jun +188,000.
0830 ET Q2 employment cost index expected +0.4%, Q1 +0.3%.
0830 ET Q2 GDP expected +1.0% (q/q annualized), Q1 +1.8%. Q2 personal consumption expected +1.6%, Q1 +2.6%. Q2 GDP price index expected +1.0%, Q1 +1.2%. Q2 core PCE expected +1.1%, Q1 +1.3%. Annual GDP revisions.
0900 ET Treasury releases its quarterly refunding statement outlining its funding needs for the next two quarters and announces amounts of 3-year T-notes (previous $32 billion), 10-year T-notes (previous $21 billion), and 30-year T-bonds (previous $13 billion) to be auctioned Aug 6-8 in the quarterly refunding.
0900 ET July Milwaukee ISM manufacturing index expected 52.0, June 51.6.
0945 ET July Chicago purchasing managers index expected +2.4 to 54.0, Jun -7.1 to 51.6.
1030 ET EIA Weekly Petroleum Status Report.
1400 ET FOMC interest rate decision.