Market Happenings For Wednesday, December 04, 2013

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

The Market

Tuesday the Dow closed down -94.15 (-0.59%) at 15,914.62.

Premarket, the Dow was indicated to open down -27 points.

Year-to-date the Dow is up +21.45%.

The economy added 215,000 private-sector jobs in November. That’s well above the 160,000 gain that was expected. This bodes well for a good Jobs Report on Friday.

AT&T (T) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is down six-tenths of a cent to $3.257 per gallon.

Earnings Reports.

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

Earnings reports from Tuesday include:

Bank Of Montreal (BMO) reported fourth quarter EPS of $1.64 on revenue of $4.19 billion, compared to last year’s EPS of $1.65 on revenue of $4.18 billion.

OmniVision Technologies, Inc. (OVTI) reported second quarter EPS of $0.60 on revenue of $397.20 million, compared to last year’s EPS of $0.33 on revenue of $390.14 billion.

United Natural Foods, Inc. (UNFI) reported first quarter EPS of $0.46 on revenue of $1.69 billion, compared to last year’s EPS of $0.46 on revenue of $1.41 billion.

Other stocks expected to report earnings today include:

Aeropostale Inc. (ARO) is expected to report a third quarter loss of $0.24 per share on revenue of $520.04 million, compared to last year’s EPS of $0.31 on revenue of $605.92 million.

Avago Technologies Limited (AVGO) is expected to report fourth quarter EPS of $0.82 on revenue of $731.58 million, compared to last year’s EPS of $0.71 on revenue of $618.00 million.

Brown Forman Corporation (BFB) is expected to report second quarter EPS of $0.91 on revenue of $1.04 billion, compared to last year’s EPS of $0.80 on revenue of $1.01 billion.

Today’s Featured Dow Stock

Caterpillar Inc. (CAT)

Caterpillar Inc. (CAT) is down -6.40% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -0.3% with purchase sub-index -0.2% and refi sub-index +0.1%.

0815 ET Nov ADP employment change expected +170,000, Oct +130,000.

0830 ET Oct trade balance expected -$40.0 billion, Sep -$41.8 billion.

1000 ET Oct new home sales expected +2.1% to 430,000, Sep postponed, Aug +7.9% to 421,000.

1000 ET Nov ISM non-manufacturing index expected -0.4 to 55.0, Oct +1.0 to 55.4.

1030 ET EIA Weekly Petroleum Status Report.

1400 ET Fed Beige Book.

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