DJIA Market Happenings For Monday, December 23, 2013

Dow stocks at new 52 week highs include American Express (AXP), Dupont (DD), Disney (DIS), 3M (MMM) and Visa (V) There are no Dow stock 52 week lows.

The Market

Premarket, the Dow was indicated to open up +56 points. Looks like the Santa Rally continues.

Friday, the Dow closed up +42.06 (+0.26%) at 16,221.14.

Last week the Dow was up +3.0%, Nasdaq +2.6%, S&P 500 +2.4% and Russell 2000 +3.6%.

Year-to-date the Dow is up +23.8%, Nasdaq +35.9%, S&P 500 +27.5% and Russell 2000 +35.0%.

November Personal Income edged up +0.2% m/m vs. +0.5% expected and -0.1% prior (revised).

United Technologies (UTX) was awarded a $231.47 million government contract modification for sustainment of F119-PW-100 Engines.

Only two days till Christmas.

European stocks are higher and Asian stocks ended mostly higher.

The national average price of gasoline is up 2.8 cents over the weekend to $3.250 per gallon.

Earnings Reports.

There are no Dow earnings scheduled in the near term.

Earnings reports from Friday include:

BlackBerry (BBRY) reported a third quarter loss of $0.67 per share on revenue of $1.19 billion, compared to last year’s loss of $0.22 on revenue of $5.96 billion.

Navistar International Corporation (NAV) reported a fourth quarter loss of $1.91 per share on revenue of $2.80 billion, compared to last year’s loss of $7.89 on revenue of $3.28 billion.

Walgreen Co. (WAG) reported first quarter EPS of $0.72 on revenue of $18.33 billion, compared to last year’s EPS of $0.58 on revenue of $17.32 billion.

Other stocks expected to report earnings today include:

There are no notable earnings reports expected today.

Today’s Featured Dow Stock

JPMorgan Chase and Co. (JPM)

JPMorgan Chase and Co. (JPM) is up +31.23% year-to-date.

Financial Calendar

0830 ET Nov Chicago Fed national activity index, Oct -0.18.

0830 ET Nov personal spending expected +0.5%, Oct +0.3%. Nov personal income expected +0.5%, Oct -0.1%. Nov PCE deflator expected +0.1% m/m and +0.9% y/y, Oct unch m/m and +0.7% y/y. Nov PCE core deflator expected +0.1% m/m and +1.2% y/y, Oct +0.1% m/m and +1.1% y/y.

0955 ET Final U.S. Dec University of Michigan consumer confidence expected +0.5 to 83.0, previous +7.4 to 82.5.

1100 ET USDA weekly grain export inspections.

1500 ET Nov USDA Cold Storage.

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