Market Happenings For Monday, October 14, 2013

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

The Market

Friday the Dow closed up +111.04 (+0.73%) at 15,237.11.

Premarket, the Dow was indicated to open down -95 points.

Last week, DJA was up +1.1%, S&P 500 +0.8% and Russell 2000 +0.5%. Nasdaq however was down -0.4%.

Year-to-date the DJIA is up +16.3%, Nasdaq +25.6%, S&P 500 +19.4% and Russell 2000 +27.7%.

Dow futures are lower ahead of the opening bell as investors see no signs of progress in negotiations to resolve either the debt issue or the partial federal government shutdown.

Merck (MRK) was downgraded to “Market Perform” from “Outperform” at Bernstein.

Boeing (BA) said that furloughs possible if the partial government shutdown continues,.

Microsoft (MSFT) joined in Brazilian antitrust complaint against Google (GOOG).

European markets are mostly lower and Asian markets are mostly closed for a holiday. However, the Shanghai Composite index was open, and finished the trading day with a 0.4% gain.

The national average price of gasoline over the weekend is down two-tenths of a cent to $3.343 per gallon.

Earnings Reports

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.

Goldman Sachs (GS) reports earnings on 10/17/13 before the market open.

UnitedHealth (UNH) reports earnings on 10/17/13 before the open.

Verizon (VZ) reports earnings on 10/17/13 before the market open.

General Electric (GE) reports earnings on 10/18/13 before the market open.

McDonald’s (MCD) reports earnings 10/21/13 before the market open.

Dupont (DD) will report earnings on 10/22/13 before the market open.

The Travelers Company (TRV) will report earnings on 10/22/13 before the market open.

United Technologies (UTX) will report earnings on 10/22/13 before the market open.

Caterpillar (CAT) reports earnings on 10/23/13 before the market open.

AT&T (T) reports earnings on 10/23/13 after the market close.

3M (MMM) reports earnings on 10/24/13 before the market open.

Microsoft (MSFT) reports earnings on 10/24/13 after the market close.

Earnings reports from Friday include:

JPMorgan Chase & Co (JPM) reported EPS of $1.42 on revenue of $23.10 billion, compared to last year’s EPS of $1.40 on revenue of $25.86 billion.

Infosys Limited (INFY) reported EPS of $0.73 on revenue of $2.07 billion, compared to last year’s loss of $0.75 per share on revenue of $1.80 billion.

Webster Financial Corporation (WBS) reported EPS of $0.49, compared to last year’s EPS of $0.48 on revenue of $144.89 million.

Wells Fargo & Company (WFC) reported EPS of $0.99 on revenue of $20.50 billion, compared to last year’s EPS of $0.88 on revenue of $21.21 billion.

Other stocks expected to report earnings today include:

Stanley Furniture Company (NASDAQ: STLY) is expected to report a third quarter loss of $0.11 per share on revenue of $25.32 million, compared to last year’s loss of $0.14 per share on revenue of $23.98 million.

Wintrust Financial Corporation (NASDAQ: WTFC) is expected to report third quarter EPS of $0.65 on revenue of $195.50 million, compared to last year’s EPS of $0.66 on revenue of $195.52 million.

Today’s Featured Dow Stock

Wal-Mart Stores Inc. (WMT)

Wal-Mart Stores Inc. (WMT) is up +9.66% year-to-date.

Financial Calendar

n/a U.S. markets are open but government offices closed for Columbus Day.

2100 ET Fed Chairman Bernanke speaks at Mexican Central Bank in Mexico City.

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