Dow stocks at 52 week highs include United Technologies (UTX). There are no Dow stock 52 week lows.
The Market
Thursday the Dow closed down -25.96 (-0.17%) at 15,300.64.
Year-to-date the Dow is up +16.76%..
This morning the Dow was indicated to open up +26 points.
The Fed meets next week and current expectations seem to be that we’ll see a small tapering then.
U.S. retail sales rose less than expected in August even as demand increased for automobiles and other big-ticket items, the latest sign that economic growth slowed in the third quarter.
The Commerce Department said today that U.S. retail sales increased 0.2 percent in August, less than expected. Americans bought automobiles, furniture and electronics and appliances. However, they cut back on clothing, building materials and sporting goods. Retail sales, which account for about 30 percent of consumer spending, are still up for a fifth consecutive month. Retail sales had gained 0.4 percent in July and economists had expected a rise of 0.4 percent last month.
Intel (INTC) shares are up in premarket trading after Jeffries raised its recommendation on the stock to “Buy” from “Hold.”
Verizon Communications (VZ) shares were up in premarket trade after holding the largest ever debt sale on Wednesday.
European markets are lower and Asian markets ended lower.
The national average price of gasoline is down one cent to $3.540 per gallon.
Earnings Reports
There are no Dow stocks expected to report earnings soon.
Earnings reports from Thursday include:
Kroger Company (KR) reported EPS of $0.60 on revenue of $22.70 billion, compared to last year’s EPS of $0.51 on revenue of $21.73 billion.
Lululemon Athletica Inc. (LULU) reported EPS of $0.39 on revenue of $344.50 million, compared to last year’s EPS of $0.39 on revenue of $282.63 million.
United Natural Foods, Inc. (UNFI) reported EPS of $0.65 on revenue of $1.64 billion, compared to last year’s EPS of $0.51 on revenue of $1.34 billion.
Other stocks expected to report earnings today include:
There are no stocks of note expected to report earnings today.
Today’s Featured Dow Stock
E. I. du Pont de Nemours and Co. (DD).
E. I. du Pont de Nemours and Co. (DD) is up +29.08% year-to-date.
Financial Calendar
0830 ET Aug PPI expected +0.2% m/m and +1.3% y/y, July unch m/m and +2.1% y/y. Aug PPI ex food & energy expected +0.1% m/m and+1.3% y/y, July +0.1% m/m and +1.2% y/y.
0830 ET Aug retail sales expected +0.5% and +0.3% ex autos, July +0.2% and +0.5% ex autos.
0955 ET Preliminary U.S. Sep University of Michigan consumer confidence expected -0.1 to 82.0, Aug -3.0 to 82.1.
1000 ET July business inventories expected +0.2%, Jun unch.