DJIA Market Happenings For Wednesday, January 08, 2014

Dow stocks at 52 week highs include United Technologies (UTX). There are no Dow stock 52 week lows.

The Market

Premarket, the Dow was indicated to open down -12 points.

Tuesday, the Dow closed up +105.84 (+0.64%) at 16,530.94.

Year-to-date the Dow is down -0.28%.

The ADP report showed U.S. private employers added 238,000 jobs in December, more than expected and the best read in 13 months. Economists had forecast the ADP National Employment Report would show a gain of 200,000 jobs, with estimates ranging from a low of 170,000 to a high of 240,000. November’s increase in jobs was revised to 229,000 from the initially reported 215,000.

Today we get the FOMC minutes which are due to be released at 2:00 pm ET.

Friday we get the Jobs Report.

Ford said yesterday that CEO Alan Mulally is not leaving the company for Microsoft (MSFT).

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is down four-tenths of a cent to $3.310 per gallon.

Earnings Reports.

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.

Intel (INTC) reports earnings on 1/15/14 after the market close.

Goldman Sachs (GS) will report earnings on 1/16/14 before the market open.

United Health (UNH) reports earnings on 1/16/14 before the market open.

General Electric wil report earnings on 1/17/14 before the market open.

Johnson & Johnson (JNJ) will report earnings on 1/21/14 before the market open.

Travelers (TRV) will report earnings on 1/21/14 before the market open.

Verizon (VZ) will report earnings on 1/21/14 before the market open.

International Business Machines (IBM) will report earnings on 1/21/14 after the market close.

Earnings reports from Tuesday include:

Apollo Group (APOL) reported first quarter earnings of $1.04 per share and revenue of $856.3 million. Analysts expected $0.90 and $860.58 million respectively.

Micron Technology (MU) reported EPS of $0.30 and revenue of $4.04 billion. Analysts were expecting $0.42 and $9.3 billion respectively.

Other stocks expected to report earnings today include:

Monsanto (MON) and Constellation Brands (STZ) are expected to report earnings before the open.

WD-40 (WDFC) is expected to report earnings after the close.

Today’s Featured Dow Stock

Travelers Companies Inc. (TRV)

Travelers Companies Inc. (TRV) is down -2.36% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -6.3% with purchase sub-index -3.5% and refi sub-index -7.7%.

0815 ET Dec ADP employment change expected +200,000, Nov +215,000.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $21 billion in 10-year T-notes.

1400 ET Minutes of the Dec 17-18 FOMC meeting.

1500 ET Nov consumer credit expected +$14.25 billion, Oct +$18.186 billion.

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