DJIA Market Happenings For Wednesday, July 9, 2014

There are no Dow stocks at 52 week highs. There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +10 points.

Tuesday, the Dow closed down -117.59 (-0.69%) at 16,906.62.

Year-to-date the Dow is up +1.99%.

Dow stock winners Tuesday included Wal-Mart (WMT) +0.76%, Procter & Gamble (PG) +0.46% and Exxon Mobil (XOM) +0.18%.

Dow stock losers Tuesday included Verizon (VZ) -1.99%, Goldman Sachs (GS) -1.71% and JPMorgan (JPM) -1.61%.

Tuesday there were 3 Dow stock winners.

The Federal Reserve will post minutes from its two-day June meeting at 2 p.m. ET.

American Express (AXP) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim.

One time Dow stock Alcoa (AA) was up nearly 2% in premarket trading after it reported Q2 adjusted EPS of 18 cents, well above consensus of 12 cents.

European stocks are mostly lower and Asian markets ended lower.

The national average price of gasoline is down four-tenths of a cent at $3.645 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.

General Electric (GE) will report earnings on 7/18/14 before the market open.

Notable earnings reports from Tuesday include:

Alcoa (AA) reported second quarter EPS of $0.18 on revenue of $5.85 billion, compared to last year’s EPS of $0.07 on revenue of $5.85 billion.

Bob Evans Farms (BOBE) reported fourth quarter EPS of $0.48, compared to last year’s EPS of $0.71 on revenue of $333.91 million.

Stocks reporting earnings today include:

MSC Industrial Direct Company (MSM) is expected to report third quarter EPS of $1.06 on revenue of $727.35 million, compared to last year’s EPS of $1.05 on revenue of $636.92 million.

WD-40 Company (WDFC) is expected to report third quarter EPS of $0.72 on revenue of $99.16 million, compared to last year’s EPS of $0.66 on revenue of $93.10 million.

Today’s Featured Dow Stock

Microsoft Corp. (MSFT)

Microsoft Corp. (MSFT) is up +11.68% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -0.2% with purchase sub-index -0.7% and refi sub-index +0.1%.

1030 ET EIA Weekly Petroleum Status Report.

1300 ET Treasury auctions $21 billion 10-year T-notes.

1400 ET Jun 17-18 FOMC meeting minutes.

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