US Futures Edge Higher as Retail Sales Add 0.4%; Markets Watch For Fed Guidance

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U.S. stock futures were only slightly higher after retail sales inched up ahead of expectations and as investors took a wait-and-see approach ahead of the release of minutes this afternoon from the U.S. Federal Reserve meeting last month that could reveal more about the central bankers' mood and attitude towards its asset purchasing program.

Investors were also watching for economic data that may sway the Fed to take action. Retail sales rose 0.4% compared to the consensus for it to be flat while the consumer price index came in as expected at 1%.

Other economic data points out today include existing home sales for October, expected down to 5.15 million from 5.29 in September, or, a drop of 2.7% compared to a drop of 1.9% in September.

Finally, investors will also be watching New York Fed President William Dudley and St. Louis Fed President James Bullard who are speaking at 10 a.m. and 12:10 p.m, respectively.

In equities Lowe's ( LOW ) was down nearly 3% in pre-market trade as its Q3 earnings and FY EPS guidance were shy of expectations. The home improvement retailer's sales, however, exceeded views as did its outlook for FY sales. J.C. Penney ( JCP ) rose more than 9% before the bell, even as Q3 missed expectations. The company expects Q4 comparable store sales and gross margins to improve both over Q3 and over last year.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.14%

-S&P 500 futures up 0.14%

-Nasdaq 100 futures up 0.28%

-Nasdaq-100 Pre-Market Indicator up 0.22%

GLOBAL SENTIMENT

Nikkei down 0.33%

Hang Seng up 0.18%

Shanghai Composite up 0.62%

FTSE-100 down 0.20%

DAX-30 down 0.02%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+/-) Software stocks: mixed

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: higher

(+/-) Industrial stocks: unchanged

(+) Airlines: higher

(+/-) Autos: higher

UPSIDE MOVERS

(+) DE (+3.85%) Q4 earnings, sales exceeds expectations

(+) YHOO (+2.22%) Plans $5 billion share buyback program

(+) IPCI (+12.32%) Wins FDA approval for generic ADHD drug

(+) INO (+11.97%) Preclinical data show DNA vaccine could work on MERS virus

DOWNSIDE MOVERS

(-) SSW (-8.02%) Co to sell 3.5 mln shares in public offer

(-) NWBO (-20.72%) Plans to sell shares and warrants



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: JCP , LOW

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