DJIA Happenings For Thursday, December 12, 2013

Dow stocks at new 52 week highs include Disney (DIS) and Visa (V). There are no Dow stock 52 week lows.

The Market

Wednesday the Dow closed down -129.60 (-0.81%) at 15,843.53.

Premarket, the Dow was indicated to open down -1 points.

Year-to-date the Dow is up +20.90%.

No Dow stock news today.

Claims for unemployment benefits rose sharply last week, reversing the prior three weeks declines, but the recent strengthening of the labor market likely remains intact. Initial claims for state unemployment benefits surged 68,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday. That is the largest weekly increase since November 2012 and claims for the prior week were revised to show 2,000 more applications received than previously reported. Economists had expected first-time applications to rise to 320,000 last week. The four-week moving average for new claims, which smooths out week-to-week volatility, rose 6,000 to 328,750.

European stocks are lower and Asian stocks ended lower.

The national average price of gasoline is down four-tenths of a cent to $3.253 per gallon.

Earnings Reports.

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

Earnings reports from Wednesday include:

Costco Wholesale Corporation (COST) reported third quarter EPS of $0.96 on revenue of $24.47 billion, compared to last year’s EPS of $0.95 on revenue of $23.72 billion.

Joy Global Inc. (JOY) reported third quarter EPS of $1.11 on revenue of $1.18 billion, compared to last year’s EPS of $2.05 on revenue of $1.59 billion.

Men’s Wearhouse, Inc. (MW) reported third quarter EPS of $0.90 on revenue of $648.90 million, compared to last year’s EPS of $0.95 on revenue of $630.97 million.

Other stocks expected to report earnings today include:

Adobe Systems Incorporated (ADBE) is expected to report third quarter EPS of $0.32 on revenue of $1.03 billion, compared to last year’s EPS of $0.61 on revenue of $1.15 billion.

CIENA Corporation (CIEN) is expected to report third quarter EPS of $0.24 on revenue of $567.77 million, compared to last year’s loss of $0.07 on revenue of $465.53 million.

lululemon athletica in. (LULU) is expected to report third quarter EPS of $0.41 on revenue of $376.16 million, compared to last year’s EPS of $0.39 on revenue of $316.54 million.

Today’s Featured Dow Stock

General Electric Co. (GE)

General Electric Co. (GE) is up 26.63% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +22,000 to 320,000, previous -23,000 to 298,000. Weekly continuing claims expected +13,000 to 2.757 million, previous -21,000 to 2.744 million.

0830 ET Nov retail sales expected +0.6% and +0.2% ex autos, Oct +0.4% and +0.2% ex autos.

0830 ET Nov import price index expected -0.7% m/m and -1.7% y/y, Oct -0.7% m/m and -2.0% y/y.

0830 ET USDA weekly Export Sales.

1000 ET Oct business inventories expected +0.3%, Sep +0.6%.

1100 ET Treasury announces amount of 2-year T-notes (previous $32 billion), 5-year T-notes (previous $35 billion), 7-year T-notes (previous $29 billion) and 5-year TIPS (previous $16 billion) to be auctioned Dec 17-19.

1300 ET Treasury auctions $13 billion 30-year T-bonds.

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