Dow Futures Edge Lower Ahead of Economic Data

LONDON -- Stock index futures at 7 a.m. EDT indicate that both the Dow Jones Industrial Average and the S&P 500 may open about 0.1% lower this morning. After finishing yesterday at 22, or "extreme fear," CNN's Fear & Greed Index has risen to 27.

European markets are broadly flat this morning after a volatile week. As of 7 a.m. EDT, the FTSE 100 is down a negligible three points, Germany's DAX is up 0.53%, and France's CAC 40 is up 0.35%. New figures showed that employment levels across the eurozone fell by 0.5% during the first quarter of this year, while inflation across the eurozone rose by 1.4% on a year-on-year basis, in line with expectations.

Today sees a raft of U.S. economic data published, which may impact market sentiment during the day. First up, at 8:30 a.m. EDT, May's producer price index is expected to show that prices rose by 0.1% in May after falling by 0.7% in April, while core PPI is expected to have risen by 0.1% in May after rising 0.1% in April. At 9:15 a.m. EDT, industrial output is expected to have risen by 0.1% in May after falling 0.5% in April, while capacity utilization is expected to remain unchanged at 77.8%. Finally, at 9:55 a.m. EDT, the latest University of Michigan Consumer Sentiment Index is expected to show a rise to 84.7 in June from 84.5 in May.


Corporate earnings are thin today, but Smithfield Foods, which agreed a sale to Chinese meat-producer Shuanghui International in May, is due to release its latest quarterly results before markets open. NGL Energy Partners also released results before the opening bell, reporting net income of $48.2 million for the year ended March 31, 2013. Magnum Hunter Resources also reported year-end figures, unveiling a 138% increase in revenue to $271 million and a 139% increase in production to 13,152 barrels of oil equivalent per day in 2012.

Other stocks that could see active trading this morning include Groupon, which is up 5.4% in premarket trading this morning after analysts at Deutsche Bank upgraded the stock to "buy." Smith & Wesson Holding is also rising strongly, up 4.1% in premarket trading on news that the firm expects net sales to increase by 38% during its fiscal fourth quarter.

Finally, let's not forget that the Dow's daily movements can add up to serious long-term gains. Indeed, Warren Buffett recently wrote, "The Dow advanced from 66 to 11,497 in the 20th Century, a staggering 17,320% increase that materialized despite four costly wars, a Great Depression and many recessions." If you, like Buffett, are convinced of the long-term power of the Dow, you should read "5 Stocks To Retire On." Your long-term wealth could be transformed, even in this uncertain economy. Simply click here now to download this free, no-obligation report.

The article Dow Futures Edge Lower Ahead of Economic Data originally appeared on Fool.com.

Roland Head has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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