US Stock Futures Retreat Before The Release of Economic Reports

US stock futures pulled back today as investors pared yesterday’s gains ahead of a heavy slate of economic releases. Investors were also concerned about Greece struggling to tame its budget deficit. Futures on the S&P 500 lost 2.8 points to 1203.80, while those on Nasdaq 100 fell 5 points to 2026.50. Meanwhile, Dow Jones Industrial Average futures slipped 19 points.

Investors will be deluged today with economic releases, such as weekly jobless claims, February inflows and March industrial production. The April Philly Fed index and the April NAHB housing index will also be released today. Moreover, five Fed officials are scheduled to deliver speeches.

Some of the companies that may be in focus today are Google Inc (NASDAQ: GOOG), which reports after the closing bell, and United Parcel Service Inc (NYSE: UPS), which has gained 4.8% in the premarket session after hiking its annual earnings outlook. Fast-food restaurant operator Yum Brands Inc (NYSE: YUM) may also be in focus after announcing stronger-than-expected quarterly earnings.

In the energy sector, Peabody Energy Corp (NYSE: BTU), Apache Corp (NYSE: APA) and Entergy Corp (NYSE: ETR) could be in focus. While BTU has raised its bid for Australia's Macarthur Ltd to $3.8 billion, APA has agreed to pay $2.7 billion for Mariner Energy Inc (NYSE: ME).

Oversees, Hong Kong shares have trekked higher as growth in consumer price slowed while mainland stocks have finished marginally lower after the China data. Early gains in the European markets have dissipated as investors rivet their focus on Greece.

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