May 15, 2013-Markets Flat as Investors Eye Economic Data After Recent Rally

Wall Street pre-open jitters seem to be continuing, as indicated by the U.S. index futures, which point to a mixed opening on Wednesday. Despite futures signaling nervousness ahead of the open, the major averages have went on to record gains in recent sessions, capitalizing on evidence pointing towards firming up of the economic recovery. Earlier in the global trading day, Asian stocks closed higher, while the European markets are moving about in a volatile manner. The domestic markets may look ahead to a handful of key earnings and a few market moving economic indicators on the manufacturing sector, producer prices, industrial production and homebuilder confidence. The Dow futures are moving up 1.5 points, while the S&P 500 Index futures are declining 2 points and the Nasdaq 100 futures are unchanged. U.S. stocks showed convincing gains on Tuesday even amid a lack of any meaningful domestic catalysts. On the economic front, the Labor Department is scheduled to release its producer price inflation report for April at 8:30 am ET. Economists expect producer prices to have declined by 0.7 percent from the previous month, while core producer price inflation is expected at 0.2 percent.