Home Depot's profit forecast is weighing on their stock price this morning heading into the open but most of the rest of the market is up solidly, with the Spoos up 8.5 pts and the Nasdaq up 20. Better-than-expected German GDP data lifted the European markets this morning but the move has since faded back to the unchanged level. Meanwhile, gold and the EURUSD remain about flat heading into the US open. While this is good for Germany (all things considered), the rest of Europe remains weak:
Elsewhere this morning, Avon Products (AVP) will gap down after Coty announced it was withdrawing its bid for the company. Slow retail sales were weaker-than-expected but Empire State Manufacturing rose considerably, in part due to falling energy prices.
Tue, May 15, 2012
by David Boland