Market Happenings For Monday, December 02, 2013

Dow stocks at new 52 week highs include American Express (AXP), 3M (MMM), Microsoft (MSFT), Travelers and Wal-Mart (WMT). There are no Dow stock 52 week lows.

The Market

Friday the Dow closed down -10.92 (-0.07% at 16,086.41.

Premarket, the Dow was indicated to open up +8 points.

Last week the Dow was up +0.1%, Nasdaq +1.7%, S&P 500 +0.1% and Russell 2000 +1.6%.

Year-to-date the Dow is up +22.8%, Nasdaq +34.5%, S&P 500 +26.6% and Russell 2000 +34.6%.

Sounds like we had an underwhelming Black Friday. Now investors will be watching Cyber Monday shopping figures for further clues as to the health of the U.S. consumer. The National Retail Federation reported that shoppers spent an average of 4% less over the holiday weekend, the first decline in spending since 2009.

This Friday we get the November jobs report.

Travelers (TRV) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman due to relative valuation.

European stocks are mostly lower and Asian stocks ended mostly lower.

The national average price of gasoline over the weekend is down 1.9 cents to $3.268 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings near term.

Earnings reports from Friday include:

There were no notable earnings released Friday.

Other stocks expected to report earnings today include:

Ascena Retail Group, Inc. (ASNA) is expected to report first quarter EPS of $0.32 on revenue of $1.18 billion, compared to last year’s EPS of $0.39 on revenue of $1.14 billion.

FedEx Corporation (FDX) is expected to report second quarter EPS of $1.63 on revenue of $11.43 billion, compared to last year’s EPS of $1.39 on revenue of $11.11 billion.

Thor Industries, Inc. (THO) is expected to report first quarter EPS of $0.70 on revenue of $844.74 million, compared to last year’s EPS of $0.58 on revenue of $875.61 million.

Today’s Featured Dow Stock

AT&T Inc. (T)

AT&T Inc. (T) is up +4.45% year-to-date.

Financial Calendar

1000 ET Nov ISM manufacturing index expected -1.3 to 55.1, Oct +0.2 to 56.4. Nov ISM prices-paid sub-index expected -0.5 to 55.0, Oct -1.0 to 55.5.

1000 ET Oct construction spending expected +0.4%. Sep construction spending postponed.

1100 ET USDA weekly grain export inspections.

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