Dow stocks at new 52 week highs include American Express (AXP), General Electric (GE), Goldman Sachs, Intel (INTC), JPMorgan (JPM), 3M (MMM), United Technologies (UTX) and Visa (V) There are no Dow stock 52 week lows.
Premarket, the Dow was indicated to open down -28 points this first trading day of 2014.
Tuesday, the Dow closed up +72.37 (+0.44%) at 16,576.66.
Yesterday, Markets around the world were closed for the New Years holiday.
The Dow and S&P closed out 2013 with record highs. The Dow ended with a 26% gain, while the S&P 500 jumped more than 29% and the Nasdaq surged nearly 40%, to highs not seen since 2000. It was a good year for stocks.
I hope everyone had a very Happy New Year!
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 339,000. Claims for the prior week were revised to show 3,000 more applications received than previously reported. The four-week moving average for new claims rose 8,500 to 357,250.
American Express (AXP) and JPMorgan (JPM) will be the first Dow stocks to report earnings in 2014. See below for dates and timing.
European stocks are lower and Asian stocks ended mostly higher.
The national average price of gasoline is up two-tenths of a cent to $3.325 per gallon.
American Express (AXP) will report earnings on 1/9/14 after the market close.
JPMorgan (JPM) reports earnings on 1/14/14 before the market open.
Earnings reports from Tuesday include:
There were no notable earnings reports.
Other stocks expected to report earnings today include:
Landec Corporation (LNDC) is expected to report second quarter EPS of $0.15 on revenue of $124.23 million, compared to last year’s EPS of $0.34 on revenue of $114.65 million.
Resources Connection, Inc. (RECN) is expected to report second quarter EPS of $0.15 on revenue of $139.37 million, compared to last year’s EPS of $0.14 on revenue of $141.20 million.
Today’s Featured Dow Stock
Nike Inc. (NKE) is up +52.40% year-to-date.
0830 ET Weekly initial unemployment claims expected +6,000 to 344,000, previous -42,000 to 338,000. Weekly continuing claims expected -23,000 to 2.900 million, previous +46,000 to 2.923 million.
1000 ET Dec ISM manufacturing index expected -0.4 to 56.9, Nov +0.9 to 57.3. Dec ISM prices paid sub-index expected +0.5 to 53.0, Nov -3.0 to 52.5.
1000 ET Nov construction spending expected +0.7% m/m, Oct +0.8% m/m.
1100 ET Treasury announces amounts of 3-year T-notes (previous $30 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned Jan 7-9.