DJIA Market Happenings For Tuesday, May 27, 2014

Dow stocks at 52 week highs include Travelers (TRV). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +73 points.

Friday, the Dow closed up +63.19 (+0.38%) at 16,606.27.

Year-to-date the Dow is up +0.18%. Nasdaq is up +0.2%, S&P 500 +2.8% and Russell 2000 -3.2%.

Last week the Dow was up +0.7%, Nasdaq +2.3%, S&P 500 +1.2% and Russell 2000 +2.1%.

Also Friday, the S&P 500 had a new closing high. Maybe today too?

Cisco Systems (CSCO) shares are up in premarket trading after Deutsche Bank AG upgraded the company to ‘Buy’ from ‘Hold.’

Pfizer (PFE) shares are up in premarket trading after abandoning its attempt to acquire AstraZeneca Plc.

The 20-city S&P Case-Shiller home price index climbed 1.24% month-over-month in March. This was above expectations for a 0.7% MoM rise. Home prices were up +12.37% year-over-year, above expectations for an 11.8% YoY rise. This compares to a revised 0.78% MoM rise in February and an unchanged 12.86% YoY rise the previous month.

European stocks were mostly lower and Asian markets closed mixed.

The national average price of gasoline is down three-tenths of a cent at $3.654 per gallon.

Earnings Reports.

There are no Dow stocks set to report earnings until Nike reports in late June.

Notable earnings reports from Monday include:

No earnings yesterday as it was Memorial Day here in the USA.

Stocks reporting earnings today include:

AutoZone (AZO) is expected to report third quarter EPS of $8.44 on revenue of $2.33 billion, compared to last year’s EPS of $7.27 on revenue of $2.21 billion.

Bank of Nova Scotia (BNS) is expected to report second quarter EPS of $1.33 on revenue of $5.57 billion, compared to last year’s EPS of $1.24 on revenue of $5.30 billion.

Today’s Featured Dow Stock

The Coca-Cola Co. (KO)

The Coca-Cola Co. (KO) is down -1.77% year-to-date.

Financial Calendar

0830 ET Apr durable goods orders expected -0.7% and -0.1% ex transportation, Mar +2.5% and +2.1% ex transportation. April non-defense capital goods orders ex-aircraft expected -0.3%, Mar +2.9%.

0900 ET Mar FHFA house price index expected +0.5% m/m, Feb +0.6% m/m. Q1 FHFA purchase-only house price index expected +1.3% q/q, Q4 +1.20% q/q.

0900 ET Mar S&P CaseShiller composite-20 home price index expected +0.70% m/m and +11.75% y/y, Feb +0.76% m/m and +12.86% y/y. Q1 S&P/CaseShiller home price index, Q4 +11.30% y/y.

1000 ET U.S. May consumer confidence (Conference Board) expected +0.7 to 83.0, Apr -1.6 to 82.3.

1000 ET May Richmond Fed manufacturing index expected -2 to 5, Apr +14 to 7.

1100 ET USDA weekly grain export inspections.

1300 ET Treasury auctions $31 billion 2-year T-notes.

1600 ET USDA weekly crop progress.

2010 ET Atlanta Fed President Dennis Lockhart speaks to students at the Graduate School of Banking at LSU.

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