Market Happenings For Monday, September 16, 2013

Dow stocks at 52 week highs include Boeing (BA). There are no Dow stock 52 week lows.

The Market

Friday the Dow closed up +75.42 (+0.49%) at 15,376.06.

Year-to-date the Dow is up +17.34%..

This morning the Dow was indicated to open up +176 points.

The market seems to like that Larry Summers took himself out of the running for the Fed top job. That puts Fed Vice Chairman Jane Yellen as the top candidate for Ben Bernanke’s job.

The Fed meets this week and current expectations are that we’ll get a small tapering.

European markets are higher and Asian markets ended mostly higher and Japan is on holiday.

The national average price of gasoline is over the weekend was down 2.3 cents to $3.517 per gallon.

Earnings Reports

There are no Dow stocks expected to report earnings soon.

Earnings reports from Friday include:

There were no stocks of note to report earnings Friday.

Other stocks expected to report earnings today include:

Farmer Brothers Company (FARM) is expected to report EPS of $0.18, compared to last year’s loss of $0.06 per share.

Today’s Featured Dow Stock

Exxon Mobil Corp. (XOM).

Exxon Mobil Corp. (XOM) is up 2.14% year-to-date.

Financial Calendar

0830 ET Sep Empire manufacturing index expected +0.76 to 9.00, Aug -1.22 to 8.24.

0915 ET Aug industrial production expected +0.4%, July unch. Aug manufacturing production expected +0.4% m/m, July -0.1% m/m. Aug capacity utilization expected +0.3 to 77.9%, July was -0.1 to 77.6%.

1100 ET USDA weekly grain export inspections.

1600 ET USDA Crop Progress.

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