The Dow Market Happenings For Thursday, July 3, 2014

Dow stocks at 52 week highs include Caterpillar (CAT) which is up +20.65% so far this year. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +14 points.

Wednesday, the Dow closed up +20.17 (+0.12%) at 16,976.24.

Year-to-date the Dow is up +2.41%.

Dow stock winners Wednesday included IBM (IBM) +1.09% and Pfizer (PFE) +0.96%.

Dow stock losers Wednesday included JPMorgan (JPM) -1.04% and United Technologies (UTX) -0.68%.

Wednesday there were 16 Dow stock winners.

The Dow will probably hit the 17,000 mark today.

US markets close at 1:00 p.m. ET on today for the Independence Day holiday.

U.S. employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008. It was the fifth straight monthly job gain above 200,000. Over the past 12 months, the economy has added nearly 2.5 million jobs at a 208,000 a month clip, the fastest year-over-year pace since May 2006.

European stocks were higher and Asian markets ended mixed.

The national average price of gasoline is down three-tenths of a cent at $3.667 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.

United Technologies (UTX) will report earnings on 7/17/14 before the market open.

IBM (IBM) will report earnings on 7/17/14 after the market close.

Notable earnings reports from Wednesday include:

Constellation Brands (STZ) reported first quarter EPS of $1.07 on revenue of $1.53 billion, compared to last year’s EPS of $0.38 on revenue of $673.40 million.

Synnex Corporation (SNX) reported second quarter EPS of $1.52 on revenue of $3.45 billion, compared to last year’s EPS of $0.81 on revenue of $2.59 billion.

UniFirst Corporation (UNF) reported third quarter EPS of $1.53 on revenue of $352.20 million, compared to last year’s EPS of $1.43 on revenue of $335.76 million.

Stocks reporting earnings today include:

There are no notable earnings reports expected today.

Today’s Featured Dow Stock

JPMorgan Chase and Co. (JPM)

JPMorgan Chase and Co. (JPM) is down -2.58% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +1,000 to 313,000, previous -2,000 to 312,000. Weekly continuing claims expected -11,000 to 2.560 million, previous +12,000 to 2.571 million.

0830 ET May trade balance expected -$45.0 billion, Apr -$47.2 billion.

0830 ET Jun non-farm payrolls expected +215,000, May +217,000. Jun private payrolls expected +213,000, May 216,000. Jun manufacturing payrolls expected +10,000, May +10,000. Jun unemployment rate expected unch at 6.3%.

0830 ET Jun avg hourly earnings expected +0.2% m/m and +1.9% y/y, May +0.2% m/m and +2.1% y/y. Jun avg weekly hours expected unch at 34.5 hours.

0830 ET USDA weekly Export Sales.

0945 ET Jun Markit services PMI expected -0.2 to 61.0, May +3.1 to 61.2. Jun Markit composite PMI, May +2.7 to 61.1.

1000 ET Jun ISM non-manufacturing index expected unch at 56.3, May +1.1 to 56.3.

1100 ET Treasury announces amount of 3-year T-notes (previous $28 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned Jul 8-10.

1300 ET NYSE closes early before the July 4 holiday.

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