After investors spent much of early 2012 pushing Europe to the back of their minds, the continent is once again causing all sorts of consternation. This morning, futures are slightly down after Moody’s downgraded the debt of a group of European nations late on Monday. The market, however, hasn’t responded much to decisions by the ratings-agencies in the past year (Treasuries anyone?), so the dip appears like it could be temporary. Data out of Germany showing an uptick in investor confidence, however, helped the market recover some overnight losses. U.S. retail sales in January rose 0.4%, below economists’ expectations.
Dow futures fell 16 points to 12,819; S&P 500 futures slipped 3.1 points to 1,346.
Michael Kors (KORS) rose 14% in pre-market trading after the high-fashion apparel company posted strong earnings. Health Management Associates (HMA) rose 5.2% after a strong earnings report.
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