Indications: U.S. stock futures drop after retail sales

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By Steve Goldstein & Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures tossed off tentative gains Friday after retail sales disappointed and with a consumer confidence report still ahead.

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Stock futures turned lower after the Commerce Department estimated U.S. retail sales in May fell 1.2% after a seven-month string of gains. Read about surprising results.

Up 7 points before retail report, futures for the Dow Jones Industrial Average were off 40 points at 10,106.00.

S&P 500 futures fell 4.5 points to 1,075.00, while Nasdaq 100 futures declined 6.75 points to 1,814.25.

The May retail sales report "on the surface was not good," said Peter Boockvar, equity strategist at Miller Tabak, who noted the details are less dreary.

The report's biggest swing factor was building materials, sales of which fell 9.3% in May from the prior month, after two months of strong gains, Boockvar noted.

"If you take out gasoline and building materials, sales rose 0.1%, thus the headline looks messy but looking under the hood it's not as bad as it seems."

On a day when Goldman Sachs Group traded at a 52-week low, U.S. stocks rallied hard Thursday, with the S&P 500 climbing 2.95% in the third-biggest one-day gain of the year and the Dow Jones Industrial Average re-taking the 10,000 mark.

A bounce back for BP shares, a "sanguine" European Central Bank press conference, solid overseas economic data and a successful Spanish bond auction contributed to the gains, according to Jim Reid, a strategist at Deutsche Bank.

Later data will bring the first reading of June consumer confidence.

In China, consumer-level inflation grew at a stronger-than-forecast 3.1% clip in May.

Of companies in the spotlight, Novartis /quotes/comstock/13*!nvs/quotes/nls/nvs (NVS 48.36, +0.91, +1.92%) may be active after an advisory committee recommended approval of a multiple sclerosis drug designed to compete with Biogen Idec's /quotes/comstock/15*!biib/quotes/nls/biib (BIIB 46.73, -1.41, -2.93%) Avonex.

The euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.2113, +0.0007, +0.0578%) edged lower to $1.2105 after its big advance Thursday. European stocks were stronger in early afternoon trade, with the Stoxx Europe 600 rising 0.6%, led by Spanish banks including Banco Santander /quotes/comstock/13*!std/quotes/nls/std (STD 10.49, +0.58, +5.87%) . Spain's IBEX-35 rose as much as 4% at one point. The Nikkei 225 climbed 1.7% in Tokyo.

Oil futures slipped under the $75 per barrel mark.

Steve Goldstein is MarketWatch's London bureau chief. Kate Gibson is a reporter for MarketWatch, based in New York.

NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Friday, Jun 11, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Thursday's Close Current Price Pct Change Current NYSE ARCA Vol
BGH $31.09 $37.84 21.7% 1,845

10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $87,763,837 $108.95 ( 0.2%) | C 4,764,396 $3.88 ( 0.8%)
BP $55,919,803 $34.45 4.6% | BP 1,621,229 $34.45 4.6%
C $18,639,693 $3.88 ( 0.8%) | SPY 805,556 $108.95 ( 0.2%)
EEM $5,164,941 $38.44 ( 0.3%) | YRCW 263,043 $0.23 14.0%
EWZ $4,175,785 $65.21 0.2% | EEM 134,333 $38.44 ( 0.3%)
IWM $3,277,334 $63.85 ( 0.3%) | NOK 120,867 $9.45 0.0%
AAPL $3,130,303 $250.73 0.0% | STD 88,563 $10.52 6.2%
QQQQ $2,963,525 $44.96 ( 0.3%) | F 84,601 $11.44 0.4%
GLD $2,563,299 $119.68 0.6% | SIRI 72,430 $1.02 1.5%
APC $2,330,844 $39.95 2.1% | TZA 67,997 $7.34 0.7%

Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
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Indications: U.S. stock futures edge up before economic reports

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By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures edged higher Friday as traders waited for retail sales and consumer confidence reports before committing to extending -- or reversing -- the previous session's big rally.

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S&P 500 futures rose 3.2 points to 1,082.70 and Nasdaq 100 futures rose 4.75 points to 1,825.70. Futures on the Dow Jones Industrial Average climbed 22 points.

On a day when Goldman Sachs Group traded at a 52-week low, U.S. stocks rallied hard Thursday, with the S&P 500 climbing 2.95% in the third-biggest one-day gain of the year and the Dow Jones Industrial Average re-taking the 10,000 mark.

A bounce back for BP shares, a "sanguine" European Central Bank press conference, solid overseas economic data and a successful Spanish bond auction contributed to the gains, according to Jim Reid, a strategist at Deutsche Bank.

Friday's session will feature retail sales data, the first reading of June consumer confidence as well as inventories data that could show the sixth gain in seven months.

Economists at Barclays Capital expect the May sales to be driven by autos, offsetting declining gasoline prices.

In China, consumer-level inflation grew at a stronger-than-forecast 3.1% clip in May.

Of companies in the spotlight, Novartis /quotes/comstock/13*!nvs/quotes/nls/nvs (NVS 47.45, +1.52, +3.31%) may be active after an advisory committee recommended approval of a multiple sclerosis drug designed to compete with Biogen Idec's /quotes/comstock/15*!biib/quotes/nls/biib (BIIB 48.14, +1.06, +2.25%) Avonex.

The euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.2125, +0.0020, +0.1652%) was steady at $1.2123 after its big advance Thursday. European stocks were stronger in late morning trade, with the Stoxx Europe 600 rising 0.8%. The Nikkei 225 climbed 1.7% in Tokyo.

Oil futures slipped to around the $75 per barrel mark.

Steve Goldstein is MarketWatch's London bureau chief.