DJIA Market Happenings For Tuesday, April 01, 2014

Dow stocks at 52 week highs include Caterpillar (CAT), Johnson & Johnson (JNJ) and Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +841 points.

Monday, the Dow closed up +134.60 (+0.82%) at 16,457.66.

Year-to-date the Dow is down -0.72%.

Shares of Caterpillar (CAT) are down in premarket trading after a report claimed it avoided $2.4 billion in taxes.

Reuters reported that JPMorgan Chase (JPM) failed to win dismissal of shareholder securities fraud lawsuit over “London whale” losses.

European stocks are mostly higher and Asian stocks ended mixed.

The national average price of gasoline is up one-tenth of a cent to $3.556 per gallon.

Earnings Reports.

JPMorgan (JPM) will report earnings on 4/11/2014 before the market open.

Notable earnings reports from Monday include:

Global Partners LP (GLP) reported fourth quarter EPS of $1.20 on revenue of $4.80 billion, compared to last year’s EPS of $0.81 on revenue of $5.12 billion.

InterOil Corporation (IOC) reported a fourth quarter loss of $0.51 on revenue of $398.90 million, compared to last year’s EPS of $0.38 on revenue of $356.44 million.

UTi Worldwide Inc. (UTIW) reported a fourth quarter loss of $0.15 on revenue of $1.08 billion, compared to last year’s loss of $0.13 on revenue of $1.08 billion.

Stocks reporting earnings today include:

Apollo Group, Inc. (APOL) is expected to report second quarter EPS of $0.18 on revenue of $689.04 million, compared to last year’s EPS of $0.34 on revenue of $834.37 million.

Today’s Featured Dow Stock

Merck & Co Inc. (MRK)

Merck & Co Inc. (MRK) is up +13.43% year-to-date.

Financial Calendar

0945 ET Revised Mar Markit manufacturing PMI expected 55.9, previous -1.6 to 55.5.

1000 ET Mar ISM manufacturing expected +0.8 to 54.0, Feb +1.9 to 53.2. Mar new orders index, Feb +3.3 to 54.5. Mar ISM prices paid expected -0.5 to 59.5, Feb -0.5 to 60.0.

1000 ET Feb construction spending expected +0.1%, Jan +0.1% m/m.

1700 ET Mar total vehicle sales expected 15.80 million, Feb 15.27 million. Mar domestic vehicle sales expected 12.40 million, Feb 11.98 million.

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