Market Happenings For Wednesday, September 04, 2013

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

The Market

Tuesday the Dow closed up +23.65 (+0.16%) at 14,833.96.

Year-to-date the Dow is up +13.20%..

This morning the Dow was indicated to open down -23 points.

It is looking increasingly likely that the U.S. will lead a military strike against Syria. Obama is now seeking approval from Congress to carry out a military strike after U.S. intelligence showed that Syria used chemical weapons which killed more than 1,400 people.

Bank of America (BAC) sold its remaining stake in China Construction Bank, approximately 2 billion shares, and said it sees a pretax gain of approximately $750 million from the sale.

Today the Commerce Department announced the trade gap increased 13.3 percent to $39.1 billion. June’s shortfall on the trade balance was revised to $34.5 billion from the previously reported $34.2 billion. Economists had expected the trade deficit to rise to $38.7 billion in July.

European markets are lower and Asian markets ended mostly higher.

The national average price of gasoline is down two-tenths of a cent to $3.589 per gallon.

Earnings Reports

There are no Dow stocks expected to report earnings soon.

Earnings reports from Tuesday include:

H&R Block, Inc. (HRB) reported a first quarter loss of $0.40 per share on revenue of $127.00 million, compared to last year’s loss of $0.37 per share on revenue of $96.49 million.

Pike Electric Corp. (PIKE) reported fourth quarter EPS of $0.02 on revenue of $200.19 million, compared to last year’s EPS of $0.14 on revenue of $178.58 million.

Other stocks expected to report earnings today include:

CIENA Corporation (CIEN) is expected to report third quarter EPS of $0.16 on revenue of $532.28, compared to last year’s loss of $0.04 per share on revenue of $474.09 million.

Dollar General Corporation (DG) is expected to report second quarter EPS of $0.74 on revenue of $4.36 billion, compared to last year’s EPS of $0.69 on revenue of $3.9 billion.

Today’s Featured Dow Stock

American Express Co. (AXP).

American Express Co. (AXP) is up +26.01% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.5% with purchase sub-index +2.4% and refi sub-index-5.4%.

0730 ET Aug Challenger job cuts, July +2.3% y/y.

0830 ET July trade balance expected -$38.7 billion, Jun -$34.2 billion.

1230 ET San Francisco Fed President John Williams delivers a speech on the economy and monetary policy to community leaders in Portland, OR.

1400 ET Fed Beige Book.

1630 ET API weekly U.S. oil statistics.

1700 ET Aug total vehicle sales expected 15.80 million, July 15.73 million. Aug domestic vehicle sales expected 12.30 million, July 12.20 million.

2000 ET Minneapolis Fed President Narayana Kocherlakota participates in a town hall forum at the University of Wisconsin Lacrosse.

Both comments and pings are currently closed.

Comments are closed.


Warning: Invalid argument supplied for foreach() in /home/customer/www/dow-jones-djia.com/public_html/wp-includes/script-loader.php on line 2841