Wednesday May 14, 10:54 AM
WALL STREET OUTLOOK Little changed ahead of inflation report
LONDON (Thomson Financial) - Wall Street is on track to open little changed Wednesday ahead of a key retail inflation report, with earnings from Electronic Arts (NASDAQ: ERTS - news) and Whole Foods Market (NASDAQ: WFMI - news) supplying an early focus.
According to spread bettors IG Index, the Dow Jones Industrial Average is expected to open down about 2 points at 12,830. Separately, S&P 500 futures were unhanged at 1,404.70 while Nasdaq 100 (NASDAQ: news) futures edged 0.25 point higher at 2,006.25.
On Tuesday, stocks ended mixed as investors weighed a better-than-expected retail sales report against concern over the impact on the economy of a fresh record for oil prices.
The latest inflation report will take center stage before the opening bell, wth consumer prices expected to have ticked up 0.3% in April, according to the mean estimate of economists polled by Thomson Reuters (TRI.TO - news) ' IFR Markets.
The core CPI (NYSE: CPY - news) index, which excludes volatile food and energy prices is seen rising 0.2%.
A number of speeches from Federal Reserve officials will also punctuate the session.
Crude futures dipped ahead of U.S. weekly supply data expected to show a rise in energy stocks, with some investors also choosing to lock in profits after the price of oil struck a record high on Tuesday.
New York crude for June delivery was last down 2 cents at $125.78, off a record high of $126.98.
In corporate news, Electronic Arts will be in focus after the video game maker posted adjusted quarterly results that topped Wall Street expectations.
Whole Foods Market fell 8.5% to $30.78 in pre-market trading Wednesday after weaker-than-expected quarterly results prompted concern over slowing sales growth and ongoing expenses related to its acquisition of the Wild Oats (NASDAQ: OATS - news) chain in 2007.
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