Good morning. Premarket futures are lower following disappointment surrounding both
Cisco Systems (CSCO), poor
January retail sales, and higher than expected
jobless claims. If you love bad news, then this is your day.
Premarket gainers: PLCE, LVLT, AKAM, JCP, INFS, FNSR, MBI, FFNW, WMS, COIN, LVLT, DROOY, ELNK, GLIT, ORCT, URBN, CME, AAUK, ENER, and JBLU.
Premarket losers: CSCO, GSK, WMT, HWN, TGT, BG, EXBD, MGPI, ARQL, JOSB, ALTR, BIOD, LDK, PMTI, RVSN, SIGM, XLNX, SOLF, MELI, TBSI, JNPR, ASML, FDRY, BRCM, CSIQ, CRNT, ACGY, BPHX, ORCL, CPSL, AKNS, FSLR, JASO, ESLT, SPWR, CROX, ERIC, ARMHY, RIMM, PCLN, DELL, INTC, and AAPL.
After the open, we have a report on pending home sales at 10:AM and more Fedspeak to look forward to. We also have a retest of the January lows ahead that many I think have been waiting for as a point to put money to work again.
If the bears can stomp out any rally attempts after the negative open today, we may finally get somewhere. If you want to put money to work now, you want to see substantially lower prices that discount all of the bad news we have and are likely to see, not just more of the "the market is cheap, the Fed will save us, we're near the bottom, etc." kind of hope that has put us in this tough place to begin with.
Have a good day!
