Moody Monday

Good morning. Friday's nervousness appears likely to spill over into the new trading week as premarket futures indicate a weak open.

Investors are focused on Wal-Mart's below-forecast October sales numbers and good news from Verizon among other stock-specific headlines. To be sure, we have a lot of economic data over the next week and today is no exception. September personal income rose 0.5% (consensus 0.3%) while personal spending rose 0.1% (consensus 0.3%). The core personal consumption expenditure price index, which is the Fed's favored measure of underlying inflation, rose +0.2% in September. We also have some morning fedspeak from Jeffrey Lacker.

Looking at premarket trading, stocks moving higher are APCC, ESLR, NVEC, BEAV, CPWM, YHOO, OPTM, BRLC, ARDI, TLAB, ACOR, BIDU, and LMRA. Notable downside movers are GENZ, SOHU, GBBK, WFMI, QCOM, NAVR, RIMM, RVBD, and OPWV.

It is the end of the fiscal year for many big mutual funds so the next two days probably can't go by quickly enough for many fundies who desire to hold onto their recent gains. Let's have a great week!