Market Happenings For Thursday, October 03, 2013

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

The Market

Wednesday the Dow closed down -58.56 (-0.39%) at 15,133.14.

Premarket, the Dow was indicated to open down -38 points.

Year-to-date the Dow is up +15.48%.

It’s day three of the U.S. shutdown, brought on by our own idiot politicians.

United Technologies (UTX) shares were down more than 2% Wednesday after the defense contractor announced that it would likely furlough 2,000 workers starting next week, thanks to the government shutdown. They will join the 800,000 government employees already furloughed.

European markets are mixed and Asian markets ended mostly higher.

The national average price of gasoline is down nine-tenths of a cent to $3.376 per gallon.

Earnings Reports

Former Dow stock Alcoa (AA) will report earnings on 10/8/13 after the market close.

JPMorgan (JPM) will report earnings on 10/11/13 before the market open.

Coca Cola (KO) will report earnings on 10/15/13 before the market open.

Johnson & Johnson (JNJ) will report earnings on 10/15/13 before the market open.

Intel (INTC) will report earnings on 10/15/13 after the market close.

Earnings reports from Wednesday include:

Monsanto Company (MON) reported a loss of $0.47 per share on revenue of $2.20 billion, compared to last year’s loss of $0.44 per share on revenue of $2.11 billion.

Other stocks expected to report earnings today include:

Constellation Brands (STZ) is expected to report EPS of $0.88 on revenue of $1.53 billion, compared to last year’s EPS of $0.71 on revenue of $698.50 million.

Texas Industries, Inc. (TXI) is expected to report EPS of $0.01 on revenue of $233.6 million, compared to last year’s loss of $0.09 per share on revenue of $191.81 million.

Xyratex Ltd. (XRTX) is expected to report EPS of $0.05 on revenue of $209.31 million, compared to last year’s EPS of $0.37 on revenue of $275.67 million.

Today’s Featured Dow Stock

Procter & Gamble Co. (PG)

Procter & Gamble Co. (PG) is up +11.84% year-to-date.

Financial Calendar

0730 ET Sep Challenger job cuts, Aug +56.5% y/y.

0830 ET Weekly initial unemployment claims expected +9,000 to 314,000, previous -5,000 to 305,000. Weekly continuing claims expected -23,000 to 2.800 million, previous +35,000 to 2.823 million.

0830 ET USDA weekly Export Sales.

1000 ET Aug factory orders expected +0.3%, July -2.4%.

1000 ET Sep ISM non-manufacturing index expected -1.6 to 57.0, Aug +2.6 to 58.6.

1100 ET Treasury announces amounts of 3-year T-notes (previous $31 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned Oct 8-10.

1300 ET Atlanta Fed President Dennis Lockhart delivers welcoming remarks at a conference titles Recent Developments in the U.S. Labor Market: Analysis and Policy Responses.

1330 ET Fed Governor Jerome Powell speaks at a St. Louis Fed conference on community banking.

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