DJIA Market Happenings For Tuesday, June 24, 2014

Dow stocks at 52 week highs include Caterpillar (CAT, Chevron (CVX), Intel (INTC), Microsoft (MSFT) and Exxon Mobil (XOM). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -11 points.

Monday, the Dow closed down -9.82 (-0.06%) at 16,937.26.

Year-to-date the Dow is up +2.18%.

Dow stock winners Monday included JPMorgan (JPM)+1.11% and Microsoft (MSFT) +0.74%.

Dow stock losers Monday included Pfizer (PFE) -1.11% and General Electric (GE) -1.08%.

Monday there were 14 Dow stock winners.

Not much happening with the Dow stocks.

Nike (NKE) will report earnings on Thursday.

The 20-city S&P Case-Shiller home price index was up 0.19% month-over-month in April. Expectations were for prices to rise 0.8%. Year-over-year, home prices rose 10.82%, below expectations for an 11.5% year-over-year rise. The Case-Shiller report showed that 19 of its 20 cities saw lower annual gains in April than March. The report’s three California markets of Los Angeles, San Diego and San Francisco saw returns worsen by about 3%. Boston was the only city that saw its annual rate improve.

European stocks were mixed and Asian markets ended mostly higher.

The national average price of gasoline is down two-tenths of a cent at $3.681 per gallon.

Earnings Reports.

Nike (NKE) will report earnings on 6/26/14 after the market close.

Notable earnings reports from Monday include:

Micron Technology (MU) reported third quarter EPS of $0.79 on revenue of $3.98 billion, compared to last year’s EPS of $0.04 on revenue of $2.32 billion.

Sonic Corp. (SONC) reported third quarter EPS of $0.30 on revenue of $152.20 million, compared to last year’s EPS of $0.26 on revenue of $146.63 million.

Stocks reporting earnings today include:

Carnival Corporation (CCL) is expected to report second quarter EPS of $0.02 on revenue of $3.61 billion, compared to last year’s EPS of $0.09 on revenue of $3.48 billion.

Walgreen Co. (WAG) is expected to report third quarter EPS of $0.94 on revenue of $19.30 billion, compared to last year’s EPS of $0.85 on revenue of $18.31 billion.

Today’s Featured Dow Stock

Exxon Mobil Corp. (XOM)

Exxon Mobil Corp. (XOM) is up +3.14% year-to-date.

Financial Calendar

0805 ET Philadelphia Fed President Charles Plosser speaks to the Economic Club of New York on the economic outlook and monetary policy.

0900 ET Apr FHFA house price index expected +0.5% m/m, Mar +0.7% m/m.

0900 ET Apr S&P/CaseShiller composite-20 home price index expected +0.80% m/m and +11.50% y/y, Mar +1.24% m/m and +12.37% y/y.

1000 ET U.S. Jun consumer confidence (Conference Board) expected +0.5 to 83.5, May +1.3 to 83.0.

1000 ET Jun Richmond Fed manufacturing index expected unch at 7, May unch at 7.

1000 ET May new home sales expected +1.4% to 440,000, Apr +6.4% to 433,000.

1130 ET Treasury auctions $13 billion 2-year floating rate notes.

1300 ET Treasury auctions $30 billion 2-year T-notes.

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