Stocks were generally lower in Asia. The Nikkei and Hang Seng were both down more than one percent, Australia was down almost that much and Shanghai lost a half percent. Europe is weak across the board. The Dax and Footsie are down one and a quarter percent and one and two thirds percent respectively and they are about the best of the group this morning. US stock futures are down two thirds of a percent as I write.
*The dollar/euro is trading below 1.2500 for the first time in more than a year.
*The April reading of Retail Sales is due out at 7:30am CDT. Headline Sales are forecast to rise 0.2% on a month on month basis and the Sales ex-autos are expected to be up 0.4% from the month before. The April readings of Industrial Production and Capacity Utilization are due to be released at 8:15am CDT. Production is expected to show a monthly gain of 0.7% and the estimate for Cap Ut is 73.8%, up from 73.2% in March. The preliminary May reading of consumer sentiment from the University of Michigan is due to be released at 8:55am CDT, it is forecast to be 73.5 up from the final April result of 72.2. The March reading of Business Inventories is due out at 9:00am CDT, it is expected to be +0.4% on the month.
*Chicago Fed boss Evans is scheduled to speak at 12:40pm CDT, topic has not been announced.
Disclosure: no positions