Three Senate Democrats have broken away from Majority Leader Harry Reid's $10.10/hour line in the sand on minimum wage legislation.
Mary Landrieu of Louisiana, Mark Pryor of Arkansas, and Mark Warner of Virginia have all tipped off that they think there could be some room to negotiate over the amount of an increase over the current federal minimum wage of $7.25/hour. The GOP likes the status quo, but is viewed as likely to give some ground in an election year.
Federal minimum wage legislation could create higher costs in the retail and restaurants sectors as companies adjust to the new higher floor.
Last week, Gap made a preemptive move to raise its own hourly wage in a development that stirred the pot a little bit.
Shares of Home Depot (HD) are higher after the company topped estimates with its costs firmly under control.
The company's performance in maintaining store traffic during a tough weather period is even more impressive considering the tough comparable it came up against with Superstorm Sandy recovery a significant factor a year ago.
HD +2.0% premarket, while rival Lowe's (LOW) is getting a 1% sympathy boost. Lowe's has its turn to release Q4 numbers tomorrow.