US Futures losing some ground, watch COST, CRM, JWN, DELL, ULTA
The S&P 500 futures remain under pressure after they erased gains to close in the red yesterday, as President Donald Trump announced plans to hold a press conference on China. Later today, Wholesale Inventories (-0.7% on month in April expected), Personal Income (-6.0% on month expected), Personal Spending (-12.8% on month expected), Market News International's Chicago Purchasing Managers Index (40.0 in May expected) and the University of Michigan's Consumer Sentiment Index (74.0 in May expected) will be reported. This morning, official data showed that Japan's industrial production declined 9.1% on month in April (-5.7% expected), and retail sales fell 9.6% (-6.9% expected). Separately, Salesforce.com revealed first quarter adjusted EPS of 0.70 dollar, just above estimates, down from 0.93 dollar a year ago, on sales of 4.9 billion dollars, just above consensus, up from 3.7 billion dollars in the previous year. Nordstrom (JWN), the North American fashion retailer, disclosed first quarter LPS of 3.33 dollars, worse than expected, down from an EPS of 0.23 dollar a year ago on sales of 2.0 billion dollars, below forecasts, down from 3.3 billion dollars in the prior year.