The Dow Market Happenings For Friday, June 13, 2014

Hey, it’s Friday the 13th and anything can happen….

Dow stocks at 52 week highs include Travelers (TRV). It was here yesterday too. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -7 points.

Thursday, the Dow closed down -109.69 (-0.65%) at 16,734.19.

Year-to-date the Dow is up +0.95%.

Dow stock winners yesterday included Chevron (CVX) +0.74% and Goldman Sachs (GS) +0.32%.

Dow stock losers yesterday included Caterpillar (CAT) -1.88% and Disney (DIS -1.79%.

Yesterday there were 6 Dow stock winners and 24 losers.

Also yesterday Gold gained 0.99 percent, trading at $1,273.70 an ounce, Oil gained 2.01 percent, trading at $106.50 a barrel and Silver gained 1.94 percent, trading at $19.58 an ounce.

Analysts at Citigroup maintained a Neutral rating on Microsoft (MSFT) with a price target raised to $41 from a previous $35. Shares lost 0.69 percent Thursday, closing at $40.58.

Analysts at UBS removed Wal-Mart (WMT) from its Most Preferred List. Shares lost 0.59 percent yesterday, closing at $75.71.

Intel (INTC) was upgraded to ‘Buy’ from ‘Neutral’ at Roth Capital.

Intel (INTC) is up over 5% in after-hours trading after it raised guidance on its Q2 revenue view to $13.7 billion, plus or minus $300 million, stronger than consensus of $13.02 billion.

Crude oil prices continue to trade at nine-month highs, pushing higher by roughly 1% to above $107 per barrel, as commodity traders worry about increasing instability in Iraq.

The pound climbed against the dollar to its highest level in years after the head of the Bank of England said overnight that U.K. interest rates could rise sooner than markets expect. That could mean a rate rise as early as the end of 2014.

Next week we have the Federal Open Market Committee meeting.

European stocks were lower and Asian markets ended mixed.

The national average price of gasoline is up two-tenth of a cent at $3.649 per gallon.

Earnings Reports.

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

Notable earnings reports from Thursday include:

Finisar Corporation (FNSR) reported fourth quarter EPS of $0.36 on revenue of $306.00 million, compared to last year’s EPS of $0.20 on revenue of $243.42 million.

lululemon athletic (LULU) reported first quarter EPS of $0.34 on revenue of $385.60 million, compared to last year’s EPS of $0.32 on revenue of $345.78 million.

Stocks reporting earnings today include:

Culp (CFI) is expected to report first quarter EPS of $0.39 on revenue of $73.30 million, compared to last year’s EPS of $0.41 on revenue of $70.38 million.

Today’s Featured Dow Stock

American Express Co. (AXP)

American Express Co. (AXP) is up +4.44% year-to-date.

Financial Calendar

0830 ET May PPI final demand expected +0.1% m/m and +2.4% y/y, Apr +0.6% m/m and +2.1% y/y. May PPI ex food & energy expected +0.1% m/m and +2.3% y/y, Apr +0.5% m/m and +1.9% y/y.

0955 ET Preliminary U.S. Jun University of Michigan consumer confidence expected +1.1 to 83.0, May -2.2 to 81.9.

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