Market Happenings For Monday, December 09, 2013

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

The Market

Friday the Dow closed up +198.69 (+1.26%) at 16,020.20.

Premarket, the Dow was indicated to open up +9 points.

Last week the Dow was down -0.4%, S&P 500 -0.0% and Russell 2000 -1.0%. The Nasdaq however was up +0.1%.

Year-to-date the Dow is up +22.3%, Nasdaq +34.5%, S&P 500 +26.6% and Russell 2000 +33.2%.

Markets charged higher Friday after a strong jobs report showed that the U.S. unemployment rate fell to 7%, it’s lowest level since November 2008, as more people found jobs and joined the labor force. That followed Thursday’s report showing much stronger third-quarter growth in the U.S. economy than had previously been reported.

Verizon (VZ) announced today that it had agreed to acquire EdgeCast, a fast-growing content delivery network start-up.

The five Dow stocks with the largest returns year-to-date are Boeing (BA) +79.38%, Nike (NKE) +54.77%, American Express (AXP) +49.50%, Microsoft (MSFT) and Disney (DIS) +43.52%.

The five Dow stocks with the smallest returns year-to-date include IBM (IBM) -7.25%, Caterpillar (CAT) -4.58%, AT&T (T) +2.43%, Cisco (CSCO) +8.30% and McDonald’s (MCD) +9.74%.

European stocks are higher and Asian stocks ended higher.

The national average price of gasoline over the weekend is up four-tenths of a cent to $3.263 per gallon.

Earnings Reports.

Nike (NKE) is expected to report earnings on 12/19/13 after the market close.

Earnings reports from Friday include:

American Eagle Outfitters, Inc. (AEO) reported third quarter EPS of $0.23 on revenue of $857.30 million, compared to last year’s EPS of $0.41 on revenue of $901.37 million.

Bank of Nova Scotia (BNS) reported fourth quarter EPS of $1.31, compared to last year’s EPS of $1.21 on revenue of $4.94 billion.

Other stocks expected to report earnings today include:

ABM Industries Incorporated (ABM) is expected to report fourth quarter EPS of $0.45 on revenue of $1.23 billion, compared to last year’s EPS of $0.50 on revenue of $1.09 billion.

Pep Boys- Manny, Moe & Jack (PBY) is expected to report third quarter EPS of $0.14 on revenue of $521.74 million, compared to last year’s EPS of $0.12 on revenue of $509.61 million.

Vail Resorts, Inc. (MTN) is expected to report a first quarter loss of $1.89 on revenue of $121.33 million, compared to last year’s loss of $1.70 on revenue of $166.35 million.

Today’s Featured Dow Stock

Cisco Systems Inc. (CSCO)

Cisco Systems Inc. (CSCO) is up 8.30% year-to-date.

Financial Calendar

1100 ET USDA weekly grain export inspections.

1230 ET Richmond Fed President Jeffrey Lacker speaks at the Charlotte Chambers annual economic-outlook luncheon.

1305 ET St. Louis Fed President James Bullard speaks on the economic outlook and monetary policy to the CFA Society of St. Louis.

1830 ET Dallas Fed President Richard Fisher speaks to the CFA Society Chicago on the global and U.S. economic outlook, how the FOMC deliberates, and his perspective of current U.S. monetary policy.

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