Falling oil prices should be good for the US economy but with WTI crude running into 6 month lows, energy stocks weighed on US markets that were already troubled by events in Ukraine. Today the focus should be more inward with retail sales data and earnings from Macy’s and Cisco setting the stage for a higher open. Futures suggest the Dow Jones will open 45 points higher at 16,605 with the S&P500 expected to open 8 points higher at 1,941 and the Nasdaq 14 points higher at 3,919. Macy’s is expected to earn 86c per share on revenue of $6.3bn up from 72c and $6.06bn respectively year-over-year. The stock is trading close to its multi-year highs at $61.25 reached in March and has gained 12% this year outperforming the S&P 500. Should Macy’s sales growth continue whilst competitors in the retail space struggle then the stock looks set to make new highs in the coming months. Cisco is expected to earn 53c per share up 1c in the year on revenue of $12.14bn down from the $12.42bn last year. The stock is pushing towards one year highs formed in August last year at $26.49 and is up 12% this year outperforming the S&P 500. There have been some big shifts in the networking industry and cisco had started to fall behind but with a strong last quarter looks to be turning things around. Deere & Company is expected to report earnings of $2.23 per share on revenue of $629m. Core retail sales are expected to rise 0.4% in July at the same pace as June. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.