The Dow Market Happenings For Thursday, August 01, 2013

Dow stocks at 52 week highs include only ohnson & Johnson (JNJ), 3M (MMM), UnitedHealth (UNH) and United Technologies (UTX) There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -21.05 (-0.14%) at 15,499.54.

This morning the Dow was indicated to open up +113 points.

Year-to-date the Dow is up +18.28%.

The Labor Department reported that the number of Americans filing first-time claims for unemployment benefits fell to 326,000 last week, down 19,000 from the week prior.

Tomorrow the Labor Department will release its July jobs report.

Procter & Gamble (PG) reported Q4 EPS of 79 cents, better than consensus of 77 cents.

Exxon Mobil (XOM) reported quarterly earnings that were short of forecasts, citing weaker refining margins, while revenue topped estimates.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is up three-tenths of a cent to $3.630 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 Wednesday include:

Honda Motor Co (HMC) reported second quarter EPS of $0.69 on revenue of $28.75 billion vs. $29.49 billion.

Comcast (CMCSA) reported second quarter EPS of $0.65 vs. $0.63 expected on revenue of $16.27 billion vs. $16.01 billion.

Anheuser-Busch Inbev (BUD) reported second quarter EPS of $0.93 vs. $1.03 expected on revenue of $10.60 billion vs. $16.20 billion.

Allstate Corporation (ALL) reported second quarter EPS of $1.12 vs. $0.98 expected on revenue of $8.79 billion vs. $7.00 billion.

Mastercard Incorporated (MA) reported second quarter EPS of $6.96 vs. $6.30 expected on revenue of $2.10 billion vs. $2.00 billion.

Other stocks expected to report earnings today include:

Exxon Mobil (XOM) is expected to report second quarter EPS of $1.90 vs. $1.80 a year ago.

ConocoPhillips (COP) is expected to report second quarter EPS of $1.29 vs. $1.22 a year ago on revenue of $12.75 billion vs. $13.99 billion a year ago.

DIRECTV (DTV) is expected to report second quarter EPS of $1.33 vs. $1.09 a year ago on revenue of $7.76 billion vs. $7.22 billion a year ago.

Enbridge (ENB) is expected to report second quarter EPS of $0.39 vs. $0.36 a year ago on revenue of $5.73 billion vs. $5.72 billion a year ago.

Kraft Foods (KRFT) is expected to report second quarter EPS of $0.66 on revenue of $4.81 billion.

Barrick Gold (ABX) is expected to report second quarter EPS of $0.59 vs. $0.78 a year ago on revenue of $3.10 billion vs. $3.28 billion a year ago.

LinkedIn (LNKD) is expected to report second quarter EPS of $0.31 vs. $0.16 a year ago on revenue of $354.04 million vs. $228.21 million a year ago.

Marathon Petroleum (MRO) is expected to report second quarter EPS of $1.93 vs. $2.53 a year ago.

Bank of America Corp. (BAC).

Bank of America Corp. (BAC) is up +25.75% year-to-date.

Financial Calendar

0730 ET July Challenger job cuts, Jun +4.8% y/y.

0830 ET Weekly initial unemployment claims expected +2,000 to 345,000, previous +7,000 to 343,000. Weekly continuing claims expected +3,000 to 3.000 mln, previous -119,000 to 2.997 mln.

0830 ET USDA weekly Export Sales.

1000 ET Jun construction spending expected +0.4%, May +0.5%.

1000 ET July ISM manufacturing index expected +1.1 to 52.0, Jun +1.9 to 50.9. July ISM prices paid expected +1.3 to 53.8, Jun +3.0 to 52.5.

1700 ET July total vehicle sales expected 15.80 million, Jun 15.89 million. July domestic vehicle sales expected 12.40 million, Jun 12.43 million.

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