Premarket, futures are down after Federal Reserve Chairman Ben Bernanke did not signal more stimulus is on the horizon. Gainers this morning include NBR (+2.06%), IGT, NOV, MOLX and PHM while losers include NTAP (-3.86%), YUM, MCD, ANR and LEN.
The U.S. trade deficit for April came in at $50.1 billion, roughly in line with analyst forecasts and down from the revised $52.6 billion in March.
The national average price of gasoline dropped a half-cent to $3.55 per gallon. Add $0.75 to that number and that’s what we have in Gig Harbor, WA.
European stocks were lower in afternoon trading and Asian markets ended lower.
0830 ET Apr U.S. trade balance expected -$49.5 bln, Mar -$51.8 bln. Annual trade revisions.
1000 ET Apr wholesale inventories expected +0.5%, Mar +0.3%.
n/a Fed’s Kocherlakota speaks on economic theory in Ann Arbor, MI.