Market Happenings For Tuesday, December 03, 2013

Dow stocks at new 52 week highs include American Express (AXP), Goldman Sachs (GS), Merck (MRK), Microsoft (MSFT), Nike (NKE) and Visa (V). There are no Dow stock 52 week lows.

The Market

Monday the Dow closed down -77.64 (-0.48%) at 16,008.77.

Premarket, the Dow was indicated to open down -68 points. It looks like “Goodbye 16,000” at the open.

Year-to-date the Dow is up +22.17%.

Disney (DIS) was downgraded to ‘Neutral’ from ‘Buy’ at B. Riley.

Pfizer (PFE) was downgraded to ‘Buy’ from ‘Conviction Buy’ at Goldman.

This Friday we get the November jobs report.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is down five-tenths of a cent to $3.263 per gallon.

Earnings Reports.

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

Earnings reports from Monday include:

Ascena Retail Group, Inc. (ASNA) reported first quarter EPS of $0.36 on revenue of $1.20 billion, compared to last year’s EPS of $0.39 on revenue of $1.14 billion.

Thor Industries, Inc. (THO) reported first quarter EPS of $0.77 on revenue of $800.00 million, compared to last year’s EPS of $0.58 on revenue of $875.61 million.

Other stocks expected to report earnings today include:

Bank Of Montreal (BMO) is expected to report second quarter EPS of $1.60 on revenue of $4.05 billion, compared to last year’s EPS of $1.65 on revenue of $4.18 billion.

OmniVision Technologies, Inc. (OVTI) is expected to report second quarter EPS of $0.43 on revenue of $392.26 million, compared to last year’s EPS of $0.33 on revenue of $390.14 billion.

United Natural Foods, Inc. (UNFI) is expected to report first quarter EPS of $0.54 on revenue of $1.61 billion, compared to last year’s EPS of $0.46 on revenue of $1.41 billion.

Today’s Featured Dow Stock

Boeing Co. (BA)

Boeing Co. (BA) is up +78.03% year-to-date.

Financial Calendar

1300 ET Richmond Fed President Jeffrey Lacker testifies before the House Subcommittee on Regulatory Reform, Commercial and Antitrust Law on bankruptcy and financial institution insolvency.

1630 ET API weekly U.S. oil statistics.

1700 ET Nov total vehicle sales expected 15.80 million, Oct 15.15 million. Nov domestic vehicle sales expected 12.20 million, Oct 11.73 million.

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