There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.
The Market
Tuesday the Dow closed up +127.94 (+0.85%) at 15,191.06.
Year-to-date the Dow is up +15.93%..
This morning the Dow was indicated to open up +2 points.
Today is the 12th anniversary of the 9/11 attacks where nearly 3,000 people died when hijacked jets crashed into the World Trade Center and the Pentagon and near Shanksville, Pennsylvania.
Markets have moved about 3% higher ove the past 5 trading days as worries about the possibility of U.S.-led military strikes on Syria have faded. It now looks like a diplomatic resolution may be possible after the Syrian government said it would be willing to turn over its chemical weapons.
Verizon (VZ) is expected to announce a record $49 billion bond sale to help fund its Verizon Wireless purchase from Vodafone (VOD), according to news reports.
Procter & Gamble (PG) was downgraded to “Neutral” from “Buy” at SunTrust.
Yesterday the Dow announced it was making its biggest component change in nearly 10 years as it will replace Alcoa, Bank of America and Hewlett-Packard with Goldman Sachs, Nike and Visa into its 30-member index.
European markets are mixed and Asian markets ended mixed.
The national average price of gasoline is down six-tenths of a cent to $3.558 per gallon.
Earnings Reports
There are no Dow stocks expected to report earnings soon.
Earnings reports from Tuesday include:
Restoration Hardware (RH) reported second quarter EPS of $0.49 on revenue of $382.10 million, compared to estimated EPS of $0.43 on revenue of $377.60 million.
Christopher & Banks Corporation (CBK) reported a second quarter loss of $0.01 per share on revenue of $104.20 million, compared to last year’s loss of $0.06 per share on revenue of $103.44 million.
Other stocks expected to report earnings today include:
Men’s Wearhouse, Inc. (MW) is expected to report EPS of $1.14 on revenue of $671.04 million, compared to last year’s EPS of $1.15 on revenue of $662.30 million.
Vera Bradley, Inc. (VRA) is expected to report EPS of $0.32 on revenue of $124.81 million, compared to last year’s EPS of $0.33 on revenue of $123.04 million.
Today’s Featured Dow Stock
Chevron Corp. (CVX) is down +13.75% year-to-date.
Financial Calendar
0700 ET Weekly MBA mortgage applications, previous +1.3% with purchase sub-index -0.4% and refi sub-index +2.4%.
1000 ET July wholesale inventories expected +0.3%, Jun -0.2%. July wholesales trade sales expected +0.5%, Jun +0.4%.
1030 ET EIA Weekly Petroleum Status Report.
1300 ET Treasury auctions $21 billion 10-year T-notes.