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U.S. Stock Futures Flat - Empty Economic Calendar Puts Earnings in Focus

05/08 09:10 AM

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09:10 AM EDT, 05/08/2013 (MidnightTrader) -- U.S. stock index futures were flat in the pre-bell session with investors digesting data from China that showed the economy swung to a trade surplus in April. Meanwhile, the domestic economic data calendar is empty today.

China had a slightly bigger than expected surplus of $18.16 billion in April, topping estimates of a $15.55 billion surplus--after a surprising $884 million deficit in March. Export growth was 14.7%, well above the 8.6% analysts had called for. However, analysts are cautious of the figure's accuracy, claiming over-invoicing could have attributed to the high reading.

With the domestic economic calendar bare in the U.S., investors will take their cues from the latest round of corporate earnings. After-hours, JC Penney (JCP) released a preliminary report showing a decline in quarterly sales, while this morning Wendy's (WEN:$6.12,00$-0.02,00-0.33%) and AOL (AOL) both missed forecasts. Tesla (TSLA), News Corp. (NWSA:$32.19,00$0.18,000.56%) , and Green Mountain Coffee (GMCR) are reporting after Wednesday's close.

Commodities are mixed in the pre-bell session, oil futures are up 0.05% at $95.67, while gold futures are up 1.24% at $1,466.80.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.03%

-S&P 500 futures down 0.08%

-Nasdaq 100 futures up 0.04%

-Nasdaq-100 Pre-Market Indicator up 0.05%

GLOBAL SENTIMENT

Nikkei up 0.74%

Hang Seng up 0.86%

Shanghai Composite up 0.48%

FTSE-100 up 0.20%

DAX-30 up 0.50%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: lower

(-) Chip stocks: lower

(-) Software stocks: lower

(-) Hardware stocks: lower

(-) Internet stocks: lower

(+) Drug stocks: higher

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+) Airlines: higher

(+) Autos: higher

UPSIDE MOVERS

(+) LEDR, (+12.59%) Trulia to Acquire.

(+) MYGN, (+9.54%) Q1 Results Top Street Consensus; Fiscal 2013 Guidance Raised.

(+) WFM, ( +8.41%) Q2 EPS Beats, OKs 2-for-1 Stock Split.

DOWNSIDE MOVERS

(-) CHRW, (-6.76%) Q1 Sales $2.994 Bln Tops Estimates for $2.981 Bln, EPS $0.64 Misses Street's $0.69.

(-) SODA, (-6.12%) Beats on Q1, Raises Guidance.

(-) DDD, (-6.38%) Announces $250 Mln Offering to Fund Acquisitions.

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