DJIA Market Happenings For Wednesday, November 5, 2014

Dow stocks at 52 week highs include 3M (MMM), Travellers (TRV), Microsoft (MSFT), Disney (DIS) and Procter & Gamble (PG). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +96 points.

Tuesday, the Dow closed up +17.60 (+0.10%) at 17,383.84.

Year-to-date the Dow is up +4.87%.

There were 17 Dow stock winners Tuesday.

Dow stock winners Tuesday included Procter & Gamble (PG) +1.44% nd Wal-Mart (WMT) +1.28%.

Dow stock losers Tuesday included Caterpillar (CAT) -1.61% and Disney (DIS) -1.48%.

General Electric (GE) was unchanged Tuesday.

Intel (INTC) fell over 1% in after-hours trading after it was downgraded to ‘Underperform’ from ‘Market Perform’ at Bernstein.

Private sector employment increased by 230,000 jobs from September to October according to the October ADP National Employment Report. Expectations were for +220,000 jobs.

Friday we get the Labor Department Jobs Report.

European stocks are higher and Asian markets ended mostly lower.

The national average price of gasoline is down one cent at $2.963 per gallon.

Earnings Reports.

Disney (DIS) will report earnings on 11/6/14 after the market close.

Cisco (CSCO) will report earnings on 11/12/14 after the market close.

Wal-Mart (WMT) will report earnings on 11/13/14 before the market open.

Notable earnings reports from Tuesday include:

Alibaba Group Holding Ltd (BABA) reported third quarter EPS of 2.79 yuan ($0.46).

CVS Health Corp (CVS) reported third quarter EPS of $1.15 on revenue of $35.02 billion, compared to last year’s EPS of $1.05 on revenue of $31.97 billion.

Priceline Group Inc (PCLN) reported third quarter EPS of $22.16 on revenue of $2.84 billion, compared to last year’s EPS of $17.30 on revenue of $2.27 billion.

Twenty-First Century Fox Inc (FOXA) reported first quarter EPS of $0.48 on revenue of $7.89 billion, compared to last year’s EPS of $0.33 on revenue of $7.06 billion.

Stocks reporting earnings today include:

Duke Energy Corp (DUK) is expected to report third quarter EPS of $1.52 on revenue of $7.21 billion, compared to last year’s EPS of $1.46 on revenue of $6.71 billion.

Genworth Financial Inc (GNW) is expected to report third quarter EPS of $0.16, compared to last year’s EPS of $0.24 on revenue of $2.34 billion.

Prudential Financial Inc (PRU) is expected to report third quarter EPS of $2.41 on revenue of $11.38 billion, compared to last year’s EPS of $2.94 on revenue of $10.82 billion.

Whole Foods Market, Inc. (WFM) is expected to report third quarter EPS of $0.32 on revenue of $3.26 billion, compared to last year’s EPS of $0.32 on revenue of $3.98 billion.

Today’s Featured Dow Stock

General Electric Co. (GE)

General Electric Co. (GE) is down -8.31% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -6.6% with purchase sub-index -5.0% and the refi sub-index 7.4%.

0815 ET Oct ADP employment change expected +220,000, Sep +213,000.

0915 ET Minneapolis Fed President Narayana Kocherlakota delivers a speech titled Clarifying the Objectives of Monetary Policy at an event in Virginia, MN.

0900 ET Treasury announces amounts of 3-year T-notes (previous $27 billion), 10-year T-notes (previous $21 billion), and 30-year T-bonds (previous $13 billion) to be auctioned Nov 10-13 in the Treasurys quarterly refunding.

0930 ET Richmond Fed President Jeffrey Lacker speaks on Committing to Financial Stability at a conference on Financial Stability after Dodd Frank: Have We Ended Too Big to Fail?

0945 ET Revised-Oct Markit services PMI expected -0.2 to 57.1, prelim-Oct 57.3. Revised-Oct Markit composite PMI, prelim-Oct5 57.3.

1000 ET Oct ISM non-manufacturing index expected -0.6 to 58.0, Sep -1.0 to 58.6.

1030 ET EIA Weekly Petroleum Status Report.

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