Dow Futures Rise Ahead of Mueller Report Release

Dow Jones Industrial Average (DJI) futures are trading modestly above fair value ahead of a busy day on Wall Street. In addition to a stronger-than-expected rise in March retail sales and another notable drop in weekly jobless claims -- which fell to their lowest level since September 1969 last week -- traders are also digesting an onslaught of corporate earnings reports. Included in the bunch are blue chips American Express Company (AXP) and Travelers Companies (TRV), with both names reporting bottom-line beats.

Plus, Attorney General William Barr is set to give a 9:30 a.m. ET presser ahead of the release of Special Counsel Robert Mueller's report into Russian interference in the 2016 U.S. presidential election. Against this backdrop, futures on the S&P 500 Index (SPX) are slightly higher, too, though the Nasdaq-100 Index (NDX) is poised to retreat from yesterday's record high.

Continue reading for more on today's market, including: 

• 2 stocks hit by healthcare sector uncertainty.
• Qualcomm could be flashing a warning signal after its latest surge.
• Analyst: The Qualcomm-Apple settlement creates risk for this chip stock.
• Plus, Pinterest prices its IPO; and 2 post-earnings losers.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.26 million call contracts traded on Wednesday, compared to 692,802 put contracts. The single-session equity put/call ratio fell to 0.55, while the 21-day moving average remained at 0.61.
2. Pinterest, Inc. (NYSE:PINS) priced its initial public offering (IPO) at $19 per share on Wednesday -- above the expected range of $15 to $17 -- raising $1.43 billion for the social media site, and valuing the company at roughly $10 billion. Pinterest stock will begin trading on the New York Stock Exchange today under the ticker "PINS." Zoom Video Communications, Inc. (NASDAQ:ZM) will also go public today. After pricing its IPO at $36 per share, the video-conferencing name will start trading on the Nasdaq, using the symbol "ZM."
3. Skechers USA Inc (NYSE:SKX) stock is signaling another volatile post-earnings move, down 11.7% ahead of the bell. The shoemaker reported first-quarter earnings of 71 cents per share on $1.28 billion in revenue -- less than analysts were expecting -- and gave a weak current-quarter forecast. After tagging an annual high of $42.75 yesterday, SKX stock is set to open in levels not seen since late March.
4. Atlassian Corporation PLC (NASDAQ:TEAM) reported fiscal third-quarter adjusted profit of 21 cents per share on $309.3 million in sales, higher than consensus estimates. However, the enterprise software company said billings for the three-month period were lighter than anticipated. After closing last night at $111.19, TEAM stock is down 8.3% in pre-market trading.
5. The Fed balance sheet, business inventories, and the Philadelphia Fed business outlook survey are expected. Honeywell (HON), KeyCorp (KEY), Philip Morris (PM), SunTrust Banks (STI), and Synchrony Financial (SYF) will report earnings.

European Stocks React to Regional Manufacturing Data

Asian markets were mostly lower today, despite reports that the U.S. and China could be looking to sign a trade deal in late May or early June. Japan’s Nikkei fell 0.8%, China’s Shanghai Composite was 0.4% lower, Hong Kong’s Heng Seng fell 0.5%, and South Korea’s Kospi saw a 1.4% decline after several reports broke out over Samsung’s new $2,000 folding phone breaking.

Europe is mixed at midday, as traders digest disappointing manufacturing data out of France and Germany, adding to anxieties over a potentially sluggish global economy. The French CAC 40 is inching 0.3% higher, the German DAX is 0.4% higher, and London’s FTSE 100 is 0.1% lower.