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Wall Street has tough act to follow in new week...Retail sales and business inventories due

Monday - 5/13/2013, 7:40am  ET

NEW YORK (AP) -- Last week will be a tough one to follow for Wall Street. The Dow Jones industrial average closed above 15,000 for the first time on Tuesday, then held above that milestone for the next three days. The Dow rose 35 points on Friday to 15,118. The S&P 500 was up seven points to 1,633, while the Nasdaq climbed 27 points to 3,436. Futures augured losses at this morning's opening.

BANGKOK (AP) -- Japan's stock market jumped today to its highest close in more than five years after global finance leaders gave a seal of approval to the country's stimulus program and refrained from criticizing its weakening effect on the yen. Stocks elsewhere, however, were mostly lower. Benchmark crude oil fell but hovered above $95 per barrel. The dollar gained against the euro and the yen.

WASHINGTON (AP) -- There will be two updates from the Commerce Department to consider this morning. First up: retail sales data for April. That will be followed by a report on business inventories for March.

BERLIN (AP) -- Germany's finance minister is suggesting that a two-step process might be the best way to wind up failing banks. He says Europe doesn't need to rush into establishing a central authority, and should first rely on cooperation between national agencies.

NEWARK, N.J. (AP) -- The changing face of the nation's passenger rail carrier will be on display today. Amtrak will unveil the first of 70 new locomotives at a plant in California. Amtrak hopes for better reliability, streamlined maintenance and better energy efficiency. On a broader scale, it could be viewed as emblematic of improving financial health. Amtrak has long been dependent on federal subsidies. The Siemens locomotives are substantially U.S.-made.


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