Market Happenings For Monday, October 28, 2013

Dow stocks at new 52 week highs include American Express (AXP), Boeing (BA), Disney (DIS), Dupont (DD) and Visa (V). There are no Dow stock 52 week lows.

The Market

Friday the Dow closed up +61.07 (+0.39%) at 15,570.28.

Premarket, the Dow was indicated to open down -9 points.

Last week DJIA was up +1.1%, Nasdaq +0.7%, S&P 500 +0.9% and Russell 2000 +0.3%.

Year-to-date DJIA is up +18.8%, Nasdaq +30.6%, S&P 500 +23.4% and Russell 2000 +31.7%.

Merck (MRK) this morning reported Q3 adjusted EPS at 92 cents, above the consensus of 88 cents.

McDonald’s (MCD) forward P/E ratio could continue to fall, according to a weekend article by Barron’s.

JPMorgan (JPM) late Friday announced $5.1 billion in settlements with Federal Housing Financing Authority, which is acting as the conservator for Fannie Mae (FNMA) and Freddie Mac (FMCC).

European markets are lower and Asian markets ended mostly higher.

The national average price of gasoline is down 3 cents over the weekend to $3.285 per gallon.

Earnings Reports.

Merck (MRK) reports earnings today before the market open.

Pfizer (PFE) reports earnings on 10/29/13 before the market open.

Visa (V) reports earnings on 10/30/13 after the market close.

Exxon Mobil (XOM) reports earnings on 10/31/13 before the market open.

Chevron (CVX) reports earnings on 11/01/13 before the market open.

Earnings reports from Friday include:

Lear Corporation (LEA) reported third quarter EPS of $1.45 on revenue of $3.92 billion, compared to last year’s EPS 0f $1.29 on revenue of $3.54 billion.

Moody’s Corporation (MCO) reported third quarter EPS of $0.83 on revenue of $705.50 million, compared to last year’s EPS 0f $0.75 on revenue of $688.50 million billion.

Procter & Gamble Company (PG) reported first quarter EPS of $1.05 on revenue of $21.21 billion, compared to last year’s EPS of $1.06 on revenue of $20.74 billion.

United Parcel Services (UPS) reported EPS of $1.16 on revenue of $13.50 billion, compared to last year’s EPS of $1.06 on revenue of $13.07 billion.

Other stocks expected to report earnings today include:

Merck & Company, Inc. (MRK) is expected to report third quarter EPS of $0.88 on revenue of $11.19 billion, compared to last year’s EPS of $0.95 on revenue of $11.49 billion.

Apple Inc. (AAPL) is expected to report EPS of $7.88 on revenue of $36.76 billion, compared to last year’s EPS of $8.67 on revenue of $35.97 billion.

Biogen Idec Inc. (BIIB) is expected to report third quarter EPS of $2.10 on revenue of $1.78 billion, compared to last year’s EPS of $1.91 on revenue of $1.39 billion.

Herbalife LTD. (HLF) is expected to report third quarter EPS of $1.14 on revenue of $1.20 billion, compared to last year’s EPS 0f $1.04 on revenue of $1.02 billion.

Today’s Featured Dow Stock

General Electric Co. (GE)

General Electric Co. (GE) is up +23.30% year-to-date.

Financial Calendar

0915 ET Sep industrial production expected +0.4%, Aug +0.4%. Sep manufacturing production expected +0.3%, Aug +0.7%. Sep capacity utilization expected +0.2 to 78.0%, Aug 77.8%.

1000 ET Sep pending home sales expected unch m/m and +3.5% y/y, Aug -1.6% m/m and +2.9% y/y

1100 ET USDA weekly grain export inspections.

1145 ET Former Fed Governor Frederic Mishkin speaks at the Columbia University Graduate School of Business on Unwinding QE: Broad Financial Market and Economic Impact.

1300 ET Treasury auctions $32 billion of 2-year T-notes.

1600 ET USDA Crop Progress.

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