Ahead of the Bell: Dow futures are trading down 33 points and S&P futures are trading down 4 points. US equity futures are trading down this morning ahead of an economic report which is expected to show American retail sales fell for a second consecutive month in April, hurt by slowing demand for automobiles. Investor sentiment is also being dragged down by Chinese data which indicated that fixed-asset investment unexpectedly decelerated last month, while industrial output trailed estimates. Corporate earnings will also be in focus as Q1 earnings season winds down.
On the economic calendar today, April retail sales data will be released before the market opens and a 0.3% drop is expected, following a 0.4% fall the month prior. March business inventories data is due out after the market opens and a 0.3% increase is expected, vs. a 0.1% rise the month before.
AFS Group sounds the opening gong to highlight the merger between the AFS Equity & Derivatives department with the Derivative wholesale broker IWB.
With this merger AFS Equity & Derivatives belongs to the top three Equity Derivatives brokers from mainland Europe. AFS Group is an independent wholesale broker for professional parties in Europe. With offices in Amsterdam, London and Zurich, AFS offers a range of Fixed Income, Interest Rates, Equity derivatives and Energy products. AFS has 70 employees. Rop de Pater sounds the gong.
On Friday, May 10, representatives from BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, will visit the New York Stock Exchange to bring attention to Maternal and Neonatal Tetanus (MNT), a deadly disease that claims the lives of nearly 60,000 babies and a significant number of women each year.
Part of the Global MNT Elimination Initiative, BD has contributed funds to the work of UNICEF and its partners to eliminate Maternal and Neonatal Tetanus globally. Led by UNICEF, the initiative has made significant progress in protecting women and newborns from tetanus and is reaching some of the most marginalized populations living in remote areas with limited or non-existent access to health services.
Since the launch of the initiative in 1999, MNT...
Major equity indexes rallied in afternoon trade to finish a third straight week of gains, with the S&P 500 logging in a five-day streak of record closing highs. Healthcare and Consumer Discretionary outperformed, while shares in Energy names led decliners as crude oil fell on supply concerns.
Earnings season continues to wind down next week with technology and retail company’s in focus. Some of the big names that are likely to garner attention include CSCO, AMAT, M, and WMT.
The U.S. economic calendar will be busy as well, with another batch of housing and employment related data here in the U.S., GDP and industrial production data from the Eurozone, and April macro data due out of China.
Dow closed up 35.87 pts/+0.24% to 15,118.49; 23 of the 30 Dow stocks closed higher.
S&P closed up 7.03 pts/+0.43% to 1,633.70; 8 of the 10 S&P 500...