The Dow Market Happenings For Wednesday, June 25, 2014

Dow stocks at 52 week highs include Intel (INTC) and Coca Cola (KO). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -32 points.

Tuesday, the Dow closed down -119.13 (-0.70%) at 16,818.13.

Year-to-date the Dow is up +1.46%.

Dow stock winners Tuesday included Intel (INTC) +0.89% and United Health (UNH) +0.31%.

Dow stock losers Tuesday included Exxon Mobil (XOM) -1.58% and JPMorgan (JPM) -1.32%.

Tuesday there were 4 Dow stock winners (INTC, UNH, KO and WMT).

Not much happening with the Dow stocks.

The Commerce Department reported today that gross domestic product fell at a 2.9 percent annual rate, instead of the 1.0 percent pace it had reported last month. That is a much steeper pace than previously estimated in the first quarter to record its worst performance in five years.

Nike (NKE) will report earnings tomorrow (Thursday).

European stocks were lower and Asian markets ended lower.

The national average price of gasoline is unchanged at $3.681 per gallon.

Earnings Reports.

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

Notable earnings reports from Tuesday include:

Apogee Enterprises, Inc. (APOG) reported first quarter EPS of $0.21 on revenue of $210.90 million, compared to last year’s EPS of $0.14 on revenue of $179.31 million.

Walgreen Co. (WAG) reported third quarter EPS of $0.91 on revenue of $19.40 billion, compared to last year’s EPS of $0.85 on revenue of $18.31 billion.

Stocks reporting earnings today include:

Bed Bath & Beyond (BBBY) is expected to report first quarter EPS of $0.95 on revenue of $2.69 billion, compared to last year’s EPS of $0.93 on revenue of $2.61 billion.

General Mills (GIS) is expected to report fourth quarter EPS of $0.72 on revenue of $4.43 billion, compared to last year’s EPS of $0.53 on revenue of $4.41 billion.

Monsanto Company (MON) is expected to report third quarter EPS of $1.55 on revenue of $4.41 billion, compared to last year’s EPS of $1.66 on revenue of $4.25 billion.

Today’s Featured Dow Stock

General Electric Co. (GE)

General Electric Co. (GE) is down -5.17% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -9.2% with purchase sub-index -4.7% and refi sub-index -12.7%.

0830 ET May durable goods orders expected unch and +0.3% ex transportation, Apr +0.6% and +0.3% ex transportation. May non-defense capital goods orders ex-aircraft expected +0.5%, April -1.2%.

0830 ET Q1 GDP expected revised weaker to -1.8% from -1.0% (q/q annualized). Q1 personal consumption expected revised to +2.5% from +3.1%. Q1 GDP price index expected unrevised at +1.3%. Q1 core PCE expected unrevised at +1.2%.

0945 ET June Markit U.S. Services PMI expected -0.1 to 58.0, May +3.1 to 58.1. June U.S. Composite PMI, May +2.8 to 58.4.

1000 ET Treasury Secretary Jacob Lew testifies to the Senate Banking Committee on the Financial Stability Oversight Council annual report.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $35 billion 5-year T-notes.

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