Pre-Market Analysis 8/13

Market went down yesterday:

DOW -1.19%

S&P 500 -1.20%

Nasdaq Comp -0.38%

Russell 2000 -0.81%

Possible factors:

1) Financials

2) Housing

3) Retail Sales

Factors that will potentially move the market today:

1) Expiration of rule governing naked short selling in 19 major U.S. financial stocks

2) Financials

- Banks are facing steep losses on sales of foreclosed homes

- Declining demand in loans

3) Oil

- Crude oil inventory for the week Aug 4-8 will be announced at 1030am EST today. Analysts’ surveyed expected inventory to rise by 500,000 barrels

- Oil market is NOT acting normal. While conflict between Russia and Georgia should cause price to go up, it has not. Other factors are apparently at work - some say it's the strengthening of the USD (I doubt so though), others have conspiracy theory (my favorite!) of some sort. Bottom line is, it's volatile. Best thing a daytrader can do is to keep close tabs on changes in oil prices throughout the day.

4) USD

5) Retail Sales data for July

- Economists surveyed expected flat sales for July compared to June

At 0710 EST, this is how the major indices and futures are doing (in points):

Economic data to be released to day (Time in EST)
8:30a.m. Jul Import Prices ex-oil: Consensus: +1.0%. Prev: +2.6%.
8:30a.m. Jul Export Prices ex-ag.
8:30a.m. Jul Retail Sales: Consensus: -0.3%. Prev: +0.1%.
8:30a.m. Jul Retail Sales, Ex-Autos: Consensus: +0.5%. Prev: +0.8%.
10:00a.m. Jun Business Inventories: Consensus: +0.5%. Prev: +0.3%.
10:30a.m. Crude Oil Inventories