Wall Street Pre-Market Report

The SPDR Dow Jones Industrial Average (NYSE: DIA) managed to get its head above water Tuesday, keeping alive a streak of eight trading days of higher highs. However, the SPDR S&P 500 (NYSE: SPY) and the PowerShares QQQ (Nasdaq: QQQ) ran out of trading time and ended the day in the red. Wednesday offers one very key report, the retail sales data for February. Given that many major retailers including Wal-Mart (NYSE: WMT), Macy’s (NYSE: M) and Target (NYSE: TGT) are no longer reporting monthly sales data, this report portends to offer volatility.

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The monthly Retail Sales Report is gaining in importance as more companies stop reporting monthly sales data. This week’s data covering February is expected to show a 0.5% monthly increase, versus January’s 0.1% rise. Excluding autos, sales are expected to rise 0.6%, versus January’s 0.2% increase. Excluding autos and gasoline, sales are expected to rise 0.3%, versus last month’s 0.2% increase.

The latest Import and Export Prices data is due for 8:30 AM ET release. For February, export prices are expected 0.2% higher, versus the 0.3% increase in January. Import prices are seen increasing by 0.6%, versus the same increase in January.

New Business Trade data will come to the wire at 8:30 AM. Economists surveyed by Bloomberg see business inventories up by 0.5% in January, versus the 0.1% increase in December. Business sales were up 0.3% in December, so the increase in inventory was not in excess. The Inventory-to-Sales Ratio therefore improved on a monthly basis and measured 1.27. In the prior year period, it was better though, at 1.26.

The regular mortgage activity data will also come to the early market Wednesday. Last week’s report covering the period ending March 1 showed the Mortgage Bankers Association’s Market Composite Index increased 14.8%. Both the Refinance Index and the seasonally adjusted Purchase Index rose by 15%, as mortgage rates backed up a bit.

Look for the weekly Petroleum Status Report at 10:30 AM ET. Last week’s report covering the period ending March 1 showed crude oil inventory increased by 3.8 million barrels. However, they remained well above the upper limit of the average range for this time of year. Total motor gasoline stocks fell by 0.6 million barrels last week, but remained in the upper limit of the average range.

In corporate news, the Barclays (NYSE: BCS) Healthcare Conference brings presentations by Medtronic (NYSE: MDT), Waters (NYSE: WAT) and others. The UBS (NYSE: UBS) Global Consumer Conference highlights a presentation by Urban Outfitters (Nasdaq: URBN). The Bank of America Merrill Lynch Consumer & Retail Conference brings info from Abercrombie & Fitch (NYSE: ANF) and Nordstrom (NYSE: JWN). The Credit Suisse (NYSE: CS) Global Services Conference highlights news from Visa (NYSE: V). A Delaware bankruptcy court considers a plan for A123 Systems, an electric car battery maker. The day’s earnings schedule highlights info from Addus Homecare (Nasdaq: ADUS), Alliance Healthcare Services (NYSE: AIQ), Antares Pharma (Nasdaq: ATRS), Coldwater Creek (Nasdaq: CWTR), Crexendo (NYSE: EXE) and Delcath Systems (Nasdaq: DCTH). Also look for reports from AEP Industries (Nasdaq: AEPI), BG Medicine (Nasdaq: BGMD), Blueknight Energy Partners (Nasdaq: BKEP), Bright Horizons Family Solutions (Nasdaq: BFAM), ChemoCentryx (Nasdaq: CCXI), China Biologic Products (Nasdaq: CBPO), Chindex International (Nasdaq: CHDX), Christopher & Banks (NYSE: CBK), Discovery Laboratories (Nasdaq: DSCO), Double Eagle Petroleum (Nasdaq: DBLE), Express (Nasdaq: EXPR), Federated National (Nasdaq: FNHC), Flotek Industries (NYSE: FTK), Frequency Electronics (Nasdaq: FEIM), Global Sources (Nasdaq: GSOL), Hot Topic (Nasdaq: HOTT), Inuvo (Nasdaq: INUV), Kopin (Nasdaq: KOPN), Magnetek (NYSE: MAG), Matador Resources (Nasdaq: MTDR), Men’s Wearhouse (NYSE: MW), Michael’s Stores (NYSE: MIK), Orexigen Therapeutics (Nasdaq: OREX), Perion Network (Nasdaq: PERI), PhotoMedex (Nasdaq: PHMD), Primus Telecommunications (Nasdaq: PTGI), Providence Service (Nasdaq: PRSC), Sigma Designs (Nasdaq: SIGM), Summit Midstream Partners (Nasdaq: SMLP), Sunesis Pharmaceuticals (Nasdaq: SNSS), Tree.com (Nasdaq: TREE), Vera Bradley (NYSE: VRA) and more.

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