Stock Market Today - Investors Digesting Economic Data

NEW YORK ( TheStreet) -- Stocks opened mixed overseas this morning as investors and traders digested Friday's lackluster U.S. economic reports, but shares managed to stage a turnaround and were recently trading higher. There's a growing consensus that a Fed interest-rate hike has been pushed out until December -- from current thinking of September, which had been pushed back from June -- due to the latest economic reports' sluggishness.

The tenor of U.S. economic data and recent consumer-spending trends are even more in focus this week as some major retail names report earnings. Due out are numbers from Home Depot (HD), Lowe's (LOW), Wal-Mart (WMT), Target (TGT), Urban Outfitters (URBN), Best Buy (BBY), Gap (GPS), Dollar Tree (DLTR) and Foot Locker (FL).

Elsewhere in markets, oil is trading higher and the dollar is gaining ground. The turmoil in Greece also continues this morning, with Greek bond yields jumping higher as investors rid themselves of the debt. There's growing concern that Greece will be unable to meet a debt payment due on June 5 to the International Monetary Fund.

In other news, Google (GOOGL) announced that it would be rolling out a "Buy Now" button on ads located above users' search results. That's a bad development for Amazon(AMZN) -- which is held in the Growth Seeker portfolio -- but we don't believe the move will materially impact the online-retailing giant. We also have reservations about how Google's initiative will impact the perceived purity of GOOGL users' search results.

Earnings reports of note today include Urban Outfitters (URBN), Agilent Technologies(A), Take-Two Interactive (TTWO) and Photronics (PLAB).

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