Retail Sales, M&A, & Fedspeak

Good morning. Premarket futures have been volatile this morning, but currently indicate a positive start.

In focus this morning include a better than expected retail sales report, disappointing second quarter guidance from Wal-Mart, and the Hewlett-Packard/EDS deal. The dollar is also trading higher as oil declines.

Premarket gainers: CSIQ, FSYS, ULTR, EMKR, PMFG, KNXA, FLR, CSUN, FSTR, ENER, FWLT, GIGM, WRNC, MEDX, SOLF, BOOM, IOMI, PAL, GIGM, RICK, NTWK, BE, BYI, GTI, & PBR.

Premarket losers: TRLG, NUAN, ABP, DFR, DT, TBSI, OPWV, PNNT, DISH, HOKU, LDK, VVTV, NAT, & WMT.

At 10:AM we have the March business inventories report and lots of Fedspeak today from Plosser, Yellen, Hoenig, Fisher, and Evans.

Like yesterday, traders will continue to trade on the dollar, oil prices, and the respective technical levels that we've been trading around. Much like premarket futures, I expect to see more choppy trading. With Friday's lows as support and last Tuesday's highs as resistance, we'll likely stay confined within this trading range for some time.

Have a terrific Tuesday!