Stocks: Retail earnings still the focus

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NEW YORK (CNNMoney)

Best Buy (BBY, Fortune 500) and Sears Holding Group (SHLD, Fortune 500) are among the dozens of companies scheduled to report quarterly earnings before the opening bell Thursday. Gap (GPS, Fortune 500), Aeropostale (ARO) and Hewlett-Packard (HPQ, Fortune 500) will report after the close.

Many retailers have been releasing results this week, to mixed market reaction. On the one hand, investors were disappointed by the latest Wal-Mart (WMT, Fortune 500) figures, but numbers from luxury retailers like Tiffany (TIF) show that affluent customers are shopping until they drop.

Shares in Urban Outfitters (URBN) have plunged by roughly 10% since the fashion house reported disappointing earnings Tuesday, and it looks like the fall is not over yet. The stock is the biggest decliner premarket Thursday, off by roughly 3%, as investors worry that management may not be able to turn the firm around.

On the broader market, U.S. stock futures were relatively stable ahead of the earnings announcements.

Related: Fear & Greed Index

McDonald's (MCD, Fortune 500) is also a focus point for investors and protesters Thursday as the company holds its annual shareholder meeting in Oak Brook, Illinois.

Over 100 people were arrested outside the McDonald's corporate campus Wednesday as they protested for higher wages. There could be more arrests Thursday as protesters are promising to return.

Investors will also receive a mix of economic data: At 8:30 a.m. ET, the Department of Labor will release its weekly report on initial unemployment claims. Meanwhile, the National Association of Realtors report on April's existing home sales will be released after the bell at 10 a.m. ET.

Related: CNNMoney's Tech30

European markets weren't making any big moves in morning trading, though shares in SABMiller (SBMRF) were up by 4% in London after the brewer released earnings. Meanwhile, shares in postal service Royal Mail (ROYMF) fell by as much as 8% after reporting its latest set of quarterly results.

Asian markets mostly closed with gains, buoyed by a bullish performance in the U.S. and better-than-expected manufacturing data from China.

On Wednesday, all three U.S. stock indexes finished the day with solid gains, helping to recover from Tuesday's losses.

First Published: May 22, 2014: 4:57 AM ET

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