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.
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