DJIA Market Happenings For Friday, March 28, 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 +29 points.

Thursday, the Dow closed down -4.76 (-0.03%) at 16,264.23.

Year-to-date the Dow is down -1.88%.

There are six (6) IPO’s today. Wow. Sounds like a top to me.

Personally I’m still in cash. Can find no reason to get back in yet.

Ex-Dow stock Alcoa (AA) was upgraded to ‘Neutral’ from ‘Underperform’ at Macquarie.

European stocks are higher and Asian stocks ended mostly higher.

The national average price of gasoline is up one-tenth of a cent to $3.537 per gallon.

Earnings Reports.

There are no Dow stocks expected to report earnings near term.

Notable earnings reports from Thursday include:

Accenture plc.(ACN) reported second quarter EPS of $1.03 on revenue of $7.13 billion, compared to last year’s EPS of $1.00 on revenue of $7.06 billion.

Gamestop (GME) reported fourth quarter EPS of $1.89 on revenue of $3.68 billion, compared to last year’s EPS of $2.16 on revenue of $3.56 billion.

Lululemon athletica (LULU) reported fourth quarter EPS of $0.75 on revenue of $521.00 million, compared to last year’s EPS of $0.75 on revenue of $485.49 million.

Stocks reporting earnings today include:

Blackberry (BBRY) is expected to report a fourth quarter loss of $0.56 on revenue of $1.13 billion, compared to last year’s EPS of $0.22 on revenue of $2.68 billion.

The Finish Line (FINL) is expected to report fourth quarter EPS of $0.85 on revenue of $529.35 million, compared to last year’s EPS of $0.76 on revenue of $442.68 million.

Today’s Featured Dow Stock

JPMorgan Chase and Co. (JPM)

JPMorgan Chase and Co. (JPM) is up +2.46% year-to-date.

Financial Calendar

0830 ET Feb personal spending expected +0.3%, Jan +0.4%. Feb personal income expected +0.3%, Jan +0.3%. Feb PCE deflator expected +0.1% m/m and +0.9% y/y, Jan +0.1% m/m and +1.2% y/y. Feb PCE core deflator expected +0.1% m/m and +1.1% y/y, Jan +0.1% m/m and +1.1% y/y.

0955 ET Final-Mar University of Michigan U.S. consumer confidence expected +0.6 to 80.5, previous -1.7 to 79.9.

1245 ET Kansas City Fed President Esther George speaks about the U.S. economic outlook and monetary policy at an event in Kansas City, MO.

1500 ET USDA Q1 Hogs & Pigs inventory.

2130 ET Chicago Fed President Charles Evans speaks on monetary policy at an Asian Investment Conference in Hong Kong.

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