Stocks appear set to open higher with no real catalyst. On the corporate front, Hewlett-Packard reported earnings in-line with expectations, but issued cautious guidance. Target and Deere both beat estimates.
On the economic front, look for oil prices and energy stocks to be a focal point today. Crude futures are approaching $61 per barrel ahead of the weekly inventory report at 10:30 ET. Also scheduled today are weekly mortgage applications and the minutes from the April 29th FOMC meeting. Separately, the CBOE Volatility Index, which is often used as a gauge of investor fear, finished below 30 yesterday for the first time since September.
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