Dow stocks at 52 week highs include Dupont (DD). There are no Dow stock 52 week lows.

The Market

Premarket, the Dow was indicated to open down -15 points.

Thursday, the Dow closed up +74.24 (+0.46%) at 16,272.65.

Year-to-date the Dow is down -1.83%.

The U.S. government lowered its estimate for fourth-quarter growth as consumer spending and exports were less robust than initially thought, leaving the economy on a more sustainable path of modest expansion. Gross domestic product expanded at a 2.4 percent annual rate which is down sharply from the 3.2 percent pace reported last month and the 4.1 percent logged in the third quarter.

Economists had expected GDP growth would be cut to a 2.5 percent pace.

Yesterday, IBM began a $1 billion restructuring plan by cutting US jobs in several states. The restructuring program is designed to help the company increase profits and boost share prices to $20 a share by the end of 2015.

European stocks are lower and Asian stocks ended mixed.

The national average price of gasoline is up 1.2 cents to $3.448 per gallon.

Earnings Reports.

There are no Dow stocks scheduled to report earnings in the near term.

Notable earnings reports include:

Best Buy Co., Inc. (BBY) reported fourth quarter EPS of $1.24, compared to last year’s EPS of $1.55 on revenue of $16.71 billion.

Hilton Worldwide (HLT) reported fourth quarter EPS of $0.11.

Salesforce.com Inc (CRM) reported fourth quarter EPS of $0.00, compared to last year’s EPS of $0.13 on revenue of $834.68 million.

Sotheby’s (BID) reported fourth quarter EPS of $1.10, compared to last year’s EPS of $0.96 on revenue of $291.12 million.

Other stocks expected to report earnings today include:

3D Systems Corporation (DDD) is expected to report fourth quarter EPS of $0.20 on revenue of $101.57 million, compared to last year’s EPS of $0.26 on revenue of $155.07 million.

Liberty Interactive Corporation (LINTA) is expected to report fourth quarter EPS of $0.45 on revenue of $3.18 billion, compared to last year’s EPS of $0.33 on revenue of $3.14 billion.

Today’s Featured Dow Stock

Visa Inc. (V)

Visa Inc. (V) is up +1.62% year-to-date.

Financial Calendar

0500 ET Dallas Fed President Richard Fisher speaks on monetary policy at the Swiss National Bank in Zurich.

0830 ET Revised Q4 GDP expected +2.5% q/q annualized, previous +3.2%. Q4 personal consumption expected +2.9%, previous +3.3%. Q4 GDP price index expected unrevised at +1.3%. Q4 core PCE deflator expected unrevised at +1.1% q/q.

0945 ET Feb Chicago PMI expected -3.2 to 56.4, Jan -1.2 to 59.6.

0955 ET Final-Feb U.S. consumer confidence index (University of Michigan) expected unch at 81.2, early-Feb -1.3 to 81.2.

1000 ET Jan pending home sales expected +1.8% m/m and -10.8% y/y, Dec -8.7% m/m and -6.1% y/y.

1015 ET Fed Governor Jeremy Stein along with Minneapolis Fed President Narayana Kocherlakota, Chicago Fed President Charles Evans and Philadelphia Fed President Charles Plosser will speak on a panel discussion on interactions between monetary policy and financial stability.