The Dow Market Happenings For Thursday, April 10, 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 down -9 points.

Wednesday, the Dow closed up +181.04 (+1.11%) at 16,437.18.

Year-to-date the Dow is down -0.84%.

Jobless claims decreased by 32,000 to 300,000 in the week ended April 5, the lowest since May 2007. The figure was lower than the most optimistic forecast. The median estimate called for 320,000 claims.

Chevron (CVX) warned in its interim update that earnings for Q1 2014 are expected to be lower than Q4, principally as a result of adverse foreign exchange effects and selected asset impairments and related charges.

AT&T and Google are working to introduce ultra-fast internet services in several locations across the US despite a push back from cable operators. AT&T Chief Executive Randall Stephenson said the company is planning to be a bit more aggressive in rolling out this type of technology across the country as a merger between Comcast and Time Warner Cable becomes a real possibility.

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

The national average price of gasoline is up 1.1 cents to $3.612 per gallon.

Earnings Reports.

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

Coca Cola (KO) will report earnings on 4/15/2014 before the market open.

Johnson & Johnson (JNJ) will report earnings on 4/15/2014 before the market open.

Intel (INTC) will report earnings on 4/15/2014 after the market close.

American Express (AXP) will report earnings on 4/16/2014 after the market close.

IBM will report earnings on 4/16/2014 after the market close.

Dupont (DD) will report earnings on 4/17/2014 before the market open.

General Electric (GE) will report earnings on 4/17/2014 before the market open.

Goldman Sachs will report earnings on 4/17/2014 before the market open.

UnitedHealth (UNH) will report earnings on 4/17/2014 before the market open.

McDonalds (MCD) will report earnings on 4/22/14 before the market open.

Travelers (TRV) will report earnings on 4/22/14 before the market open.

United Technologies (UTX) will report earnings on 4/22/14 before the market open.

AT&T (T) will report earnings on 4/22/14 after the market close.

Notable earnings reports from Wednesday include:

Bed Bath & Beyond Inc. (BBBY) reported fourth quarter EPS of $1.60 on revenue of $3.20 billion, compared to last year’s EPS of $1.68 on revenue of $3.40 billion.

Constellation Brands Inc. (STZ) reported fourth quarter EPS of $0.79 on revenue of $1.29 billion, compared to last year’s EPS of $0.47 on revenue of $696.00 million.

Progressive Corporation (PGR) reported first quarter EPS of $0.54, compared to last year’s EPS of $0.42 on revenue of $4.45 billion.

Stocks reporting earnings today include:

Family Dollar Stores, Inc. (FDO) is expected to report second quarter EPS of $0.91 on revenue of $2.78 billion, compared to last year’s EPS of $1.21 on revenue of $2.89 billion.

Rite Aid Corporation (RAD) is expected to report fourth quarter EPS of $0.04 on revenue of $6.54 billion, compared to last year’s EPS of $0.13 on revenue of $6.46 billion.

Shaw Communications Inc. (SJR) is expected to report second quarter EPS of $0.41 on revenue of $1.30 billion, compared to last year’s EPS of $0.38 on revenue of $1.25 billion.

Today’s Featured Dow Stock

The Coca-Cola Co. (KO)

The Coca-Cola Co. (KO) is down -5.62% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected -6,000 to 320,000, previous +16,000 to 326,000. Weekly continuing claims expected -1,000 to 2.835 million, previous +22,000 to 2.836 million.

0830 ET Mar import price index expected +0.2% m/m and -0.9% y/y, Feb +0.9% m/m and -1.1% y/y.

0830 ET USDA weekly Export Sales.

1100 ET Treasury announces amount of 5-year TIPS to be auctioned Apr 17.

1130 ET Chicago Fed President Charles Evans, ECB Vice President Vitor Constancio and RBI Governor Raghuram Rajan speak on a panel discussion on Global Monetary Policy and Emerging Markets in Washington D.C.

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

1400 ET Mar monthly budget statement expected -$71.0 billion, Feb -$193.5 billion.

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