The US markets opened lower on Monday morning after disappointing retail sales data were announced by Lululemon (NASDAQ:LULU) and Express (NYSE:EXPR). However, investors sent shares of Beam (BEAM) higher by more than 24% following the news that the company had agreed to be acquired by Suntory Holdings for $13.62 billion.
Good morning this is Kristin Bianco with the Week Ahead Market Report for January 13, 2014.
In overseas trading, Japan's Nikkei 225 Stock Average was closed and the Hang Seng gained 0.2% overnight. In Europe on Monday, the FTSE 100 was higher by 0.1% so far and the German DAX is higher by 0.2% this morning.
In economic news, retail sales data is released on Tuesday, Core PPI data is announced on Wednesday, initial jobless claims are released on Thursday and housing starts are announced on Friday.
In earnings news this week, JP Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) announce on Tuesday, Kinder Morgan (NYSE:KMI) announces on Wednesday, BlackRock (NYSE:BLK) announces on Thursday, and General Electric (NYSE:GE) announces on Friday.
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
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