DJIA Market Happenings For Wednesday, July 2, 2014

Dow stocks at 52 week highs include American Express (AXP), Disney (DIS), Intel (INTC) and Johnson & Johnson (JNJ). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +17 points.

Tuesday, the Dow closed up +129.47 (+0.77%) at 16,956.07.

Year-to-date the Dow is up +2.29%.

Dow stock winners Tuesday included IBM (IBM) +2.80% and Visa (V) +1.68%.

Dow stock losers Tuesday included Goldman Sachs -0.38% and Coca Cola (KO) -.17%.

Tuesday there were 25 Dow stock winners.

JPMorgan (JPM) CEO Jamie Dimon announced he was diagnosed with a curable throat cancer. He will continue working as he undergoes treatment.

The head of the Federal Reserve, Janet Yellen, will be speaking at the International Monetary Fund at 11 a.m. Investors will be watching for clues as to how long the Fed will wait to raise interest rates once its bond-buying program ends later this year.

Thursday, we will have the Friday Jobs number due to the 4th of July holiday.

It’s a slow Dow stock news day.

The Dow is very close to the 17,000 mark and may hit that today.

European stocks were higher and Asian markets ended higher.

The national average price of gasoline is down two-tenths of a cent at $3.670 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 6/26/14 after the market close of $0.78/share, beating consensus for $0.76/share.

Goldman Sachs (GS) will report earnings on 7/15/14 before the market open.

Intel (INTC) will report earnings on 7/15/14 after the market close.

Johnson & Johnson (JNJ) will report earnings on 7/15/14 before the market open.

JPMorgan (JPM) will report earnings on 7/15/14 before the market open.

Notable earnings reports from Tuesday include:

Acuity Brands (AYI) reported third quarter EPS of $1.00 on revenue of $603.90 million, compared to last year’s EPS of $0.97 on revenue of $541.50 million.

Paychex (PAYX) reported fourth quarter EPS of $0.40 on revenue of $639.00 million, compared to last year’s EPS of $0.38 on revenue of $585.30 million.

A. Schulman (SHLM) reported third quarter EPS of $0.66 on revenue of $627.50 million, compared to last year’s EPS of $0.74 on revenue of $645.70 million.

Stocks reporting earnings today include:

Constellation Brands (NYSE: STZ) is expected to report first quarter EPS of $0.93 on revenue of $1.41 billion, compared to last year’s EPS of $0.38 on revenue of $673.40 million.

Synnex Corporation (NYSE: SNX) is expected to report second quarter EPS of $1.36 on revenue of $3.17 billion, compared to last year’s EPS of $0.81 on revenue of $2.59 billion.

UniFirst Corporation (NYSE: UNF) is expected to report third quarter EPS of $1.42 on revenue of $349.24 million, compared to last year’s EPS of $1.43 on revenue of $335.76 million.

Today’s Featured Dow Stock

Johnson & Johnson. (JNJ)

Johnson & Johnson. (JNJ) is up +15.59% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -1.0% with purchase sub-index -1.2% and refi sub-index -0.9%.

0730 ET Jun Challenger job cuts, May +45.5% y/y.

0815 ET Jun ADP employment change expected +205,000, May +179,000.

0945 ET Jun ISM New York, May 55.3.

1000 ET May factory orders expected -0.3%, Apr +0.7%.

1100 ET Fed Chair Janet Yellen delivers a lecture at the IMF in Washington D.C.

1030 ET EIA Weekly Petroleum Status Report.

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