DJIA Market Happenings For Thursday, May 01, 2014

Dow stocks at 52 week highs include Merck (MRK). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -4 points.

Wednesday, the Dow closed up +45.47 (+0.27%) at 16,580.84. That’s a new record closing high by the way. Now I only need the Russell 2000 to get there too.

Year-to-date the Dow is up +0.03%.

The U.S. Labor Department weekly jobless claims report reported claims were up 14,000 to 344,000, and the prior week’s figure was revised higher by 1,000 to 330,000. Expectations were for a drop to 320,000 jobless claims in the week.

There’s talk that AT&T (T) may be making a bid for the satellite TV company DirectTV (DTV).

Most European and Asian markets are closed, but the ones open were higher.

The national average price of gasoline is down four-tenths of a cent at $3.687 per gallon.

Earnings Reports.

JPMorgan (JPM) reported earnings on 4/11/2014 before the market open of $1.28/share below consensus of $1.41/share.

Coca Cola (KO) reported earnings on 4/15/2014 before the market open of $0.44/share, meeting consensus.

Johnson & Johnson (JNJ) reported earnings on 4/15/2014 before the market open of $1.54/share, beating consensus of $1.48/share.

Intel (INTC) reported earnings on 4/15/2014 after the market close $0.38/share beating consensus of $0.37/share.

American Express (AXP) reported earnings on 4/16/2014 after the market close of $1.33/share beating consensus of $1.30/share.

International Business Machines (IBM) reported earnings on 4/16/2014 after the market close of $2.54/share, meeting consensus.

Dupont (DD) reported earnings on 4/17/2014 before the market open of $1.58/share, meeting consensus.

General Electric (GE) reported earnings on 4/17/2014 before the market open of $0.36/share, beating consensus of $0.32/share.

Goldman Sachs reported earnings on 4/17/2014 before the market open of $4.02/share, beating consensus of $3.44/share.

UnitedHealth (UNH) reported earnings on 4/17/2014 before the market open of $1.10/share, narrowly beating consensus of $1.093/share.

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.

Boeing (BA) will report earnings on 4/23/14 before the market open.

Procter & Gamble (PG) will report earnings on 4/23/14 before the market open.

Caterpillar (CAT) will report earnings on 4/24/14 before the market open.

3M (MMM) will report earnings on 4/24/14 before the market open.

Verizon VZ will report earnings on 4/24/14 before the market open.

Micrososft (MSFT) will report earnings on 4/24/14 after the market close.

Visa (V) will report earnings on 4/24/14 after the market close.

Merck (MRK) will report earnings on 4/29/14 before the market open.

Exxon Mobil (XOM) will report earnings on 5/1/14 before the market open.

Chevron (CVX) will report earnings on 5/2/14 before the market open.

Pfizer (PFE) will report earnings on 5/5/14 before the market open.

Walt Disney (DIS) will report earnings on 5/6/14 after the market close.

Notable earnings reports from Wednesday include:

GlaxoSmithKline PLC (GSK) reported first quarter EPS of $0.82, compared to last year’s EPS of $0.82.

Thomson Reuters Corp (TRI) reported first quarter EPS of $0.46, compared to last year’s EPS of $0.38.

Time Warner Inc. (TWX) reported first quarter EPS of $0.91, compared to last year’s EPS of $0.82.

WellPoint Inc. (WLP) reported first quarter EPS of $2.30, compared to last year’s EPS of $2.94.

Stocks reporting earnings today include:

Exxon Mobil Corporation (XOM) is expected to report first quarter EPS of $1.88, compared to last year’s EPS of $1.12.

Kellogg Company (K) is expected to report first quarter EPS of $0.97, compared to last year’s EPS of $1.02.

Kraft Foods Group, Inc. (KRFT) is expected to report first quarter EPS of $0.78, compared to last year’s EPS of $0.76.

Mastercard Incorporated (MA) is expected to report first quarter EPS of $0.72, compared to last year’s EPS of $0.62.

Today’s Featured Dow Stock

Cisco Systems Inc. (CSCO)

Cisco Systems Inc. (CSCO) is up +3.03% year-to-date.

Financial Calendar

0730 ET Apr Challenger job cuts, Mar -30.2% y/y.

0830 ET Fed Chair Janet Yellen speaks to the Independent Community Bankers of Americas annual Washington Policy Summit.

0830 ET Weekly initial unemployment claims expected -9,000 to 320,000, previous +24,000 to 329,000. Weekly continuing claims expected +20,000 to 2.700 million, previous 61,000 to 2.680 million.

0830 ET Mar personal spending expected +0.6%, Feb +0.3%. Mar personal income expected +0.4%, Feb +0.3%.

0830 ET Mar PCE deflator expected +0.2% m/m and +1.1% y/y, Feb +0.1% m/m and +0.9% y/y. Mar core PCE deflator expected +0.2% m/m and +1.2% y/y, Feb +0.1% m/m and +1.1% y/y.

0830 ET USDA weekly Export Sales.

0945 ET Revised Markit Apr manufacturing PMI, previous 55.4.

1000 ET Apr ISM manufacturing index expected +0.6 to 54.3, Mar +0.5 to 53.7. Apr ISM new orders, Mar +0.6 to 55.1. Apr ISM
employment, Mar -1.2 to 51.1. Apr ISM prices paid expected +0.5 to 59.5, Mar -1.0 to 59.0.

1000 ET Mar construction spending expected +0.5% m/m, Feb +0.1% m/m.

n/a Apr total vehicle sales expected 16.20 million, Mar 16.33 million. Apr domestic vehicle sales expected 12.80 million, Mar 12.78 million.

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