Market Happenings For Thursday, December 05, 2013

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

The Market

Wednesday the Dow closed down -24.85 (-0.16%) at 15,889.77.

Premarket, the Dow was indicated to open down -36 points.

Year-to-date the Dow is up +21.26%.

Intial Jobless claims show In the week ending November 30, the advance figure for seasonally adjusted initial claims was 298,000, a decrease of 23,000 from the previous week’s revised figure of 321,000. The 4-week moving average was 322,250, a decrease of 10,750 from the previous week’s revised average of 333,000.

Exxon Mobil (XOM) was downgraded to ‘Outperform’ from ‘Strong Buy’ at Raymond James after recent share price gains.

European stocks are lower and Asian stocks ended mostly lower.

The national average price of gasoline is down five-tenths of a cent to $3.252 per gallon.

Earnings Reports.

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

Earnings reports from Wednesday include:

Aeropostale Inc. (ARO) reported a third quarter loss of $0.29 per share on revenue of $514.60 million, compared to last year’s EPS of $0.31 on revenue of $605.92 million.

Avago Technologies Limited (AVGO) reported fourth quarter EPS of $0.89 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) reported second quarter EPS of $0.96 on revenue of $1.08 billion, compared to last year’s EPS of $0.80 on revenue of $1.01 billion.

Other stocks expected to report earnings today include:

Dollar General Corporation (DG) is expected to report third quarter EPS of $0.70 on revenue of $4.43 billion, compared to last year’s EPS of $0.63 on revenue of $3.96 billion.

Kroger Company (KR) is expected to report third quarter EPS of $0.53 on revenue of $22.78 billion, compared to last year’s EPS of $0.46 on revenue of $21.81 billion.

UTI Worldwide Inc. (forUTIW) is expected to report third quarter EPS of $0.09 on revenue of $1.14 billion, compared to last year’s EPS of $0.16 on revenue of $1.13 billion.

Today’s Featured Dow Stock

0730 ET Nov Challenger job cuts, Oct -4.2% y/y.

0815 ET Atlanta Fed President Dennis Lockhart speaks on the economy and monetary policy in Fort Lauderdale, FL.

0830 ET Weekly initial unemployment claims expected +5,000 to 321,000, previous -10,000 to 316,000. Weekly continuing claims expected +24,000 to 2.800 million, previous -91,000 to 2.776 million.

0830 ET Q3 GDP expected to be revised higher to +3.1% (q/q annualized) from +2.8%. Q3 personal consumption expected unrevised at +1.5%. Q3 GDP price index expected unrevised at +1.9%. Q3 core PCE expected unrevised at +1.4%.

0830 ET USDA weekly Export Sales.

1000 ET Oct factory orders expected -1.0%, Sep +1.7%.

1100 ET Treasury announces amount of 3-year T-notes (previous $30 billion), 10-year T-notes (previous $24 billion) and 30-year T-bonds (previous $16 billion) to be auctioned Dec 10-12.

1215 ET Dallas Fed President Richard Fisher speaks on Federal Reserve Operations and Economic Update at a community forum at Texas A&M University.

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