DJIA Market Happenings For Thursday, March 13, 2014

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +25 points.

Wednesday, the Dow closed down -11.17 (-0.07%) at 16,340.08.

Year-to-date the Dow is down -1.43%.

The number of Americans filing applications for unemployment benefits unexpectedly fell last week to the lowest level since the end of November 2013. The Labor Department reported today that jobless claims dropped by 9,000 to 315,000 in the week ended March 8. The median forecast called for a rise to 330,000. Continuing claims decreased for a third straight week.

The U.S. Department of Energy will sell up to 5 million barrels of crude oil from the Strategic Petroleum Reserve, a move it said was to test the capabilities of the nation’s emergency stockpile in a rapidly changing oil market.

Amazon is going to raise the cost of it’s Prime service to $99 per year from the current $79 per year.

They still haven’t found the missing Malaysia plane.

European stocks are mixed and Asian stocks ended mixed.

The national average price of gasoline is up 1.4 cents to $3.504 per gallon.

Earnings Reports.

Nike (NKE) is expected to report earnings on 3/20/14 after the market close.

Notable earnings reports from Wednesday include:

Express, Inc (EXPR) reported fourth quarter EPS of $0.57 on revenue of $715.90 million, compared to last year’s EPS of $0.75 on revenue of $728.71 million.

Krispy Kreme Doughnuts, Inc. (KKD) reported fourth quarter EPS of $0.12 on revenue of $112.70 million, compared to last year’s EPS of $0.09 on revenue of $118.14 million.

Vail Resorts, Inc. (MTN) reported second quarter EPS of $1.60 on revenue of $452.70 million, compared to last year’s EPS of $1.65 on revenue of $422.45 million.

Williams-Sonoma, Inc (WSM) reported fourth quarter EPS of $1.38 on revenue of $1.47 billion, compared to last year’s EPS of $1.34 on revenue of $1.41 billion.

Stocks reporting earnings today include:

Christopher & Banks Corporation (CBK) is expected to report a fourth quarter loss of $0.03 on revenue of $106.64 million, compared to last year’s loss of $0.11 on revenue of $115.98 million.

Dollar General Corporation (DG) is expected to report fourth quarter EPS of $1.02 on revenue of $4.63 billion, compared to last year’s EPS of $0.97 on revenue of $4.21 billion.

Kronos Worldwide Inc (KRO) is expected to report fourth quarter EPS of $0.01 on revenue of $371.45 million, compared to last year’s loss of $0.12 per share on revenue of $396.80 million.

Today’s Featured Dow Stock

Chevron Corp. (CVX)

Chevron Corp. (CVX) is down -7.41% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +7,000 to 330,000, previous -26,000 to 323,000. Weekly continuing claims expected -3,000 to 2.904 million, previous -8,000 to 2.907 million.

0830 ET Feb retail sales expected +0.2% and +0.1% ex autos, Jan -0.4% and unch ex autos.

0830 ET Feb import price index expected +0.5% m/m and -1.9% y/y, Jan +0.1% m/m and -1.5% y/y.

0830 ET USDA weekly Export Sales.

1000 ET Jan business inventories expected +0.4%, Dec +0.5%.

1100 ET Treasury announces amount of 10-year TIPS to be auctioned Mar 20 (previous $15 billion).

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

1400 ET Feb monthly budget statement expected -$196.5 billion, Jan -$10.421 billion.

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