The Dow Market Happenings For Friday, August 02, 2013

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

The Market

Thursday the Dow closed up +128.48 (+0.83%) at 15,628.02.

This morning the Dow was indicated to open down -20 points.

Year-to-date the Dow is up +19.26%.

The government said Friday that employers added 162,000 jobs in July, while the unemployment rate inched lower to 7.4%. Economists were expecting a gain of 180,000 jobs in July. And the unemployment rate, which stood at 7.6% in June, fell more than expected.

Chevron Corp. reported this morning that it earned $2.77 per share in the second quarter, down from $3.66 per share. Year-ago net income was $7.21 billion.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is down four-tenths of a cent to $3.626 per gallon.

Earnings Reports

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 Thursday include:

Exxon Mobil (XOM) reported second quarter EPS of $1.55 vs. $1.90 on revenue of $106.47 billion.

LinkedIn (LNKD) reported second quarter EPS of $0.38 vs. $0.31 on revenue of $363.7 million vs. $354.04 million.

ConocoPhillips (COP) reported second quarter EPS of $1.41 vs. $1.29 on expected revenue of $12.75 billion.

Other stocks expected to report earnings today include:

Chevron (CVX) is expected to report second quarter EPS of $2.98 vs. $3.56 a year ago on revenue of $56.01 billion vs. $62.61 billion a year ago.

Eaton Corporation (ETN) is expected to report second quarter EPS of $1.11 vs. $1.15 a year ago on revenue of $5.77 billion vs. $4.07 billion a year ago.

Exelis (XLS) is expected to report second quarter EPS of $0.37 vs. $0.46 a year ago on revenue of $1.23 billion vs. $1.38 billion a year ago.

Caterpillar Inc. (CAT).

Caterpillar Inc. (CAT) is up -5.77% year-to-date.

Financial Calendar

0830 ET July non-farm payrolls expected +185,000, Jun +195,000. July private payrolls expected +195,000, Jun +202,000. July manufacturing payrolls expected +2,000, Jun 6,000. July unemployment rate expected -0.1 to 7.5%, Jun unch at 7.6%.

0830 ET July avg hourly earnings expected +0.2% m/m and +2.2% y/y, Jun +0.4% m/m and +2.2% y/y. July avg weekly hours expected unch at 34.5, Jun 34.5.

0830 ET Jun personal spending expected +0.5%, May +0.3%. Jun personal income expected +0.4%, May +0.5%. Personal income and spending annual revisions.

0830 ET Jun PCE deflator expected +0.4% m/m and +1.3% y/y, May +0.1% m/m and +1.0% y/y. Jun core PCE deflator expected +0.1% m/m and +1.1% y/y, May +0.1% m/m and +1.1% y/y.

1000 ET Jun factory orders expected +2.3%, May +2.1%.

1215 ET St. Louis Fed President James Bullard speaks on the economy at the 2013 Municipal Finance Conference in Boston, MA.

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