This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Hustle: Futures Muted as Home Depot, Staples Post Mixed Results

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a muted start on Wall Street after mixed retailer reports.

Dow Jones Industrial Average futures were down 3 points, or 2.86 points below fair value, to 16,478. S&P 500 futures were down 0.75 points, or 0.53 points below fair value to 1,881.5. Nasdaq futures were up 1 point, or 0.88 points above fair value, to 3,614.3.

  • The U.S. calendar is sparse on Tuesday ahead of the FOMC minutes and spate of Fed-speak on Wednesday, and existing home sales on Thursday. Philadelphia Federal Reserve Bank President Charles Plosser will speak about the economic outlook at 12:30 p.m. EDT on Tuesday. New York Fed President William Dudley is scheduled to appear at the New York Association for Business Economics at 1 p.m.
  • Home Depot (HD) was 1.44% lower in premarket trading after reporting first-quarter earnings of $1 a share, topping estimates by just a penny, as sales came in at $19.70 billion. That trailed the consensus revenue estimate of $19.95 billion. Staples (SPLS) was plunging nearly 11% after posting quarterly earnings per share that missed estimates by 3 cents at 18 cents with revenue falling 3% to $5.65 billion. Analysts, on average, were expecting sales of $5.61 billion. Urban Outfitters (URBN - Get Report) was down more than 4% after missing analysts' expectations in its April-ended first quarter.
  • TJX (TJX) is expected by Wall Street to report earnings of 67 cents a share in the first quarter on sales of $6.6 billion.
  • In other companies news, GoPro, the maker of durable digital cameras that can be used to capture adventure sports, filed for an initial public offering on Monday with a $100 million placeholder. The company, which reported nearly $1 billion in 2013 revenue, will look to list its shares on Nasdaq under ticker "GPRO."
  • International markets were experiencing a mixed session. The DAX was down 0.11%, the FTSE was off 0.5%, and the Hang Seng finished up 0.57%. The Nikkei broke a four-session losing streak, closing 0.49% higher on the heels of U.S. gains on Monday.
  • U.S. stocks eked out gains Monday as small-cap and tech stocks surged against a backdrop of mixed M&A success, but trading volume was the second lowest on record in 2014 heading into the Memorial Day weekend.
  • Global money managers raised cash holdings to a two-year high this month and said America is the worst place to invest, a recent Bank of America survey showed. This is "a sign of risk aversion and equity bull-run fatigue," noted Howie Lee, an investment analyst at Phillip Futures.

-- By Andrea Tse in New York

>>Read More:

Final Hour: Techs, Treasuries, Small Caps Boost Otherwise Sideways Shuffle

Another Wacky Day in the Stock Market

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
URBN $34.38 0.00%
AAPL $130.28 0.00%
FB $79.19 0.00%
GOOG $532.11 0.00%
TSLA $250.80 0.00%

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs