Case Shiller Report: Market Happenings For Tuesday, August 27, 2013

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Monday the Dow closed down -64.05 (-0.43%) at 14,946.46.

Year-to-date the Dow is up +14.06%.

This morning the Dow was indicated to open down -113 points on Syria worries.

U.S. single-family home prices rose in June. The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.9 percent on a seasonally adjusted basis, a bit lower than economists’ forecast for a 1 percent increase. Prices rose 1 percent in May. On a non-adjusted basis, prices rose 2.2 percent. Compared to a year earlier, prices were up 12.1 percent, in line with economists’ expectations. Prices were up 12.2 percent in the year to May, the biggest gain in more than seven years.

Amgen Inc (AMGN) shares are up in premarket trade after officially announcing that it would acquire Onyx for $125 a share.

European markets are lower and Asian markets ended mixed.

The national average price of gasoline is up one-tenth of a cent to $3.542 per gallon.

Earnings Reports

There are no Dow stocks expected to report earnings soon.

Earnings reports from Monday include:

The were no companies of note to report earnings yesterday.

Other stocks expected to report earnings today include:

Bank of Montreal (BMO) is expected to release third quarter EPS of $1.54 on revenue of $4.02 billion, compared to EPS of $1.49 on revenue of $3.88 billion a year ago.

Brown Shoe Company, Inc. (BWS) is expected to release second quarter EPS of $1.32 on revenue of $1.70 billion, compared to last year’s EPS of $1.19 on revenue of $1.83 billion.

Regis Corporation (RGS) is expected to release fourth quarter EPS of $1.84 on revenue of $2.45 billion vs. last year’s EPS of $1.34 on revenue of 2.45 billion.

Tiffany & Co. (TIF) is expected to release second quarter EPS of $0.74 on revenue of $941.21 million, compared to last year’s EPS of $0.72 on revenue of $886.5 million

Today’s Featured Dow Stock

Verizon Communications Inc. (VZ).

Verizon Communications Inc. (VZ) is up +8.48% year-to-date.

Financial Calendar

0650 ET San Francisco Fed President John Williams speaks on a panel in Gothenberg, Sweden titled Challenges for Monetary Policy: Views from the Trenches.

0900 ET Jun S&P/CaseShiller composite-20 home price index expected +1.0% m/m and +12.1% y/y, May +1.1% m/m and +12.2% y/y.

1000 ET Aug Richmond Fed manufacturing index expected +11 to zero, July -18 to -11.

1000 ET Aug consumer confidence (Conference Board) expected -1.3 to 79.0, July -1.6 to 80.3.

1300 ET Treasury auctions $34 billion 2-year T-notes.

1630 ET API weekly U.S. oil statistics.

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