Stocks are expected to open modestly lower on Monday as the markets lack a pre-market catalyst to push it to new highs today. One bright spot will be from the Nasdaq as Apple (NASDAQ:AAPL) is trading higher this morning on the news that the Obama administration is overturning an international trade ruling related to the sale of various iPhone 4 models in the US.
Good morning this is Sayoko Murase with the Week Ahead Market Report for August 5 2013.
In overseas trading, Japan's Nikkei 225 Stock Average was lower by more than 1.4% overnight while the Hang Seng was marginally higher. The FTSE 100 was modestly lower by 0.2% this morning and the German DAX was flat.
On the earnings front, MGM Resorts (NYSE:MGM) reports on Tuesday, AOL (AOL) and Ralph Lauren (NYSE:RL) report on Wednesday and T-Mobile US (NASDAQ:TMUS) reports on Thursday.
On the economic front, the MBA Mortgage Index data will be released on Tuesday, Initial Jobless Claims will be released on Thursday and Wholesale Inventories will be released on Friday
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
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