The Dow Market Happenings For Thursday, January 09, 2014

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

The Market

Premarket, the Dow was indicated to open up +48 points.

Wednesday, the Dow closed down -68.20 (-0.41%) at 16,462.74.

Year-to-date the Dow is down -0.69%.

Yesterday the Federal Reserve released minutes saying it would proceed cautiously in scaling back its massive monetary stimulus.

The Labor Department today said initial claims for state unemployment benefits declined 15,000 to a seasonally adjusted 330,000. Economists had expected first-time applications to fall to 335,000 for the week ended January 4. The four-week moving average for new claims fell 9,750 to 349,000.

McDonald’s (MCD) was upgraded to ‘Overweight’ from ‘Equal Weight’ at Morgan Stanley.

Tomorrow we get the Jobs Report.

European stocks are mostly higher and Asian stocks ended mostly lower.

The national average price of gasoline is down three-tenths of a cent to $3.307 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.

United Technologies will report earnings on 1/22/14 before the market open.

Earnings reports from Wednesday include:

Monsanto (MON) reported EPS of $0.67, beating the consensus estimate of $0.64. Revenue of $3.14 billion beat consensus of $3.08 billion.

Constellation Brands (STZ) reported EPS of $1.10, beating the consensus estimate of $0.91. Revenue of $1.44 billion came in ahead of the consensus estimate of $1.38 billion.

Other stocks expected to report earnings today include:

One time Dow stock Alcoa (AA) will report fourth-quarter earnings after the close today. Analysts are looking for EPS of $0.05 and revenues of $5.43 billion.

Today’s Featured Dow Stock

United Technologies Corp. (UTX)

United Technologies Corp. (UTX) is down -0.13% year-to-date.

Financial Calendar

0730 ET Dec Challenger job cuts, Nov -20.6% y/y.

0830 ET Weekly initial unemployment claims expected -4,000 to 335,000, previous -2,000 to 339,000. Weekly continuing claims expected +17,000 to 2.850 million, previous -98,000 to 2.833 million.

0830 ET USDA weekly Export Sales.

1000 ET House Monetary Policy and Trade Subcommittee holds hearing on the effects of the Feds quantitative easing program on the international financial system.

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

1330 ET Kansas Fed President Ester George speaks on banking and the U.S. economy to the Wisconsin Bankers Association in Madison, WI.

2000 ET Minneapolis Fed President Narayana Kocherlakota speaks at town hall meeting at the Minneapolis Fed.

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