Market Happenings For Friday, October 04, 2013

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

The Market

Thursday the Dow closed down -136.66 (-0.90%) at 14,996.48.

Premarket, the Dow was indicated to open up +13 points.

Year-to-date the Dow is up +14.44%.

It’s now day four of the U.S. shutdown and we are not getting the Friday Jobs Report because of it.

The Coca-Cola Co (KO) shares are up in premarket trade after rolling out a new “Happiness” campaign.

Personally I’ve raised cash in this government debacle but hope to not need to go to all cash. Guess we’ll see.

European markets are mixed and Asian markets ended lower.

The national average price of gasoline is down one cent to $3.366 per gallon. Here at the Gig Harbor Costco, regular gas was $3.52 a 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.

American Express (AXP) will report earnings on 10/16/13 after the market close.

International Business Machines (IBM) will report earnings on 10/16/13 after the market close.

Earnings reports from Thursday include:

Constellation Brands (STZ) reported EPS of $0.96 on revenue of $1.46 billion, compared to last year’s EPS of $0.71 on revenue of $698.50 million.

IDT Corporation (IDT) reported EPS of $0.13 on revenue of $412.10 million, compared to last year’s EPS of $0.02 on revenue of $384.90 million.

Xyratex Ltd. (XRTX) reported EPS of $0.21 on revenue of $217.30 million, compared to last year’s EPS of $0.37 on revenue of $275.67 million.

Other stocks expected to report earnings today include:

There are no companies of note expected to report earnings Friday.

Today’s Featured Dow Stock

The Coca-Cola Co. (KO)

The Coca-Cola Co. (KO) is up +2.51% year-to-date.

Financial Calendar

0830 ET Sep non-farm payrolls (postponed due to U.S. government shutdown) expected +180,000, Aug +169,000. Sep private payrolls expected +182,000, Aug +152,000. Sep manufacturing payrolls expected +5,000, Aug +14,000. Sep unemployment rate expected unch at 7.3%, Aug -0.1 to 7.3%.

0830 ET Sep avg hourly earnings expected +0.2% m/m and +2.1% y/y, Aug +0.2% m/m and +2.2% y/y. Sep avg weekly hours expected unch at 34.5 hours, Aug 34.5 hours.

0830 ET Dallas Fed President Richard Fisher speaks on the economy to the Central Arkansas Risk Management Association.

0915 ET New York Fed President William Dudley delivers introductory remarks and Fed Governor Jeremy Stein gives keynote remarks at a conference in New York titled Workshop on Fire Sales as a Driver of Systemic Risk in Tri-Party Repo and Other Secures Funding Markets.

1345 ET Minneapolis Fed President Narayana Kocherlakota speaks on monetary policy strategy at the Bank Holding Company Association Fall Seminar in Bloomington, MN.

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