How is the Stock Market Doing Today After a Dismal Tuesday?

How is the stock market doing today after the Dow Jones Industrial average shed 191 points coming out of Memorial Day weekend? Here's how the stock market is moving this morning, a look at key earnings reports, the top stock market news, and  a list of stocks to watch based on today's market moves...

Stock Futures Today

So, how is the stock market doing today (Wednesday)? Here's a look at the stock market futures, and what moved markets yesterday.

Dow futures today for Wednesday, May 27, forecasted a 24-point gain over yesterday's Dow close.

On Tuesday, the DJIA index slumped 190 points as Greece woes, Federal Reserve rate chatter, and a stronger dollar fueled a sell-off. The U.S. dollar was near a one-month high against a basket of international currencies, while statements from Fed Vice Chair Stanley Fischer signaled the central bank's plans to increase interest rates could fuel global market volatility.

Top News in the Stock Market Today

• The Stock Market Today: Today, investors will keep an eye on mortgage applications and earnings reports from a number of retailers. And while many investors have been caught up on speeches made by members of the Federal Reserve, this morning, the Bank of Canada will make a statement on its overnight lending rates. The central bank is not expected to change its monetary policy as the country continues to eye other nations' actions. Meanwhile, European financial ministers were working to downplay concerns about Greece's pending payment to the International Monetary Fund.
• Yellen's Silence: In a surprising and somewhat curious decision, Federal Reserve Chairwoman Janet Yellen said she will skip this year's conference in Jackson Hole. Traditionally, the conference has been used as an important event for the Fed chair to make a major announcement on monetary policy. The event takes place from August 27 to August 29.
• Earnings Reports: Companies reporting earnings this morning include Chico's FAS Inc. (NYSE: CHS), Costco Wholesale Corp. (Nasdaq: COST), Michael Kors Holdings Ltd (NYSE: KORS), Star Bulk Carriers Corp (Nasdaq: SBLK), Tiffany & Co. (NYSE: TIF), Tilly's Inc. (NYSE: TLYS), and Toll Brothers Inc. (NYSE: TOL).
• Oil Prices Today: Oil prices were down slightly this morning as the dollar continued to roar. WTI crude futures for July fell 0.2% this morning to hit $57.92 per barrel. Meanwhile, Brent oil was down 0.3% to hit $63.53 per barrel.

Pre-Market Movers in the Stock Market Today: WDAY, KORS, TIF

• Pre-Market Movers 1: WDAY: Shares Workday Inc. (NYSE: WDAY) slipped more than 8.5% after the human-resource software maker announced that it reported a sharp loss for the March-ending quarter and slashed its current-quarter expectations. The firm reported adjusted first-quarter per-share revenues of $0.02, or $251 million. Wall Street analysts expected a per-share loss of $0.08 on revenue of $245 million.
• Pre-Market Movers 2:  KORS: Shares of Michael Kors Holdings (NYSE: KORS) slipped nearly 11% after the luxury accessory company announced its slowest sales growth in nearly four years. The company said that demand in North America continues to slump. KORS said that net earnings increased to $182.6 million, or $0.90 per share. Wall Street expectations called for per-share earnings of $0.91.
• Pre-Market Movers 3: TIF: Shares of Tiffany's Inc. (NYSE: TIF) jumped more than 6% after the luxury jeweler announced it beat Wall Street quarterly profit expectations. The firm announced net earnings of $104.9 million, or $0.81 per share, while consensus expectations were $0.70 per share.

Stocks to Watch Today: LO, RAI, ITYBY

• Stocks to Watch No. 1:  RAI: Cigarette manufacturer Reynolds American, Inc. (NYSE: RAI) and Lorillard Inc. (NYSE: LO) must divest four cigarette brands and several plants should they proceed with their $27.4 billion merger, according to a ruling by the Federal Trade Commission. In a 3 to 2 vote favoring the deal, the FTC announced that Reynolds must sell the brands Koo, Maverick, Salem, and Winston and to Imperial Tobacco Group PLC (ADR) (OTC: ITYBY). Meanwhile, Lorillard's several manufacturing plants in North Carolina will go to Imperial.
• Stocks to Watch No. 2: HRL: Dietary changes in the United States are fueling consolidation in the organic food sector and the production of protein-heavy manufacturers. Hormel Foods Corp. (NYSE: HRL) announced plans to purchase organic-mean producer Applegate Farms for roughly $775 million. This is the second deal in roughly a year among protein producers. Last year, Tyson Foods Inc. (NYSE: TSN) purchased Hillshire Brands Co., maker of Jimmy Dean sausages, for $7.7 billion. Shares of HRL were up more than 3% in premarket hours on the news.

Today's U.S. Economic Calendar (all times EST)

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• MBA Mortgage Application at 7 a.m.
• Redbook at 8:55 a.m.
• 4-Week Bill Auction at 11:30 a.m.
• 52-Week Bill Auction at 11:30 a.m.
• 2-Year FRN Note Auction at 1 p.m.
• 5-Year Note Auction at 1 p.m.

What Investors Must Know This Week

• How to Grab Profits During a Stock Market Crash

• M&A: Invest in the Next Tech Takeover Targets

• How to Profit from the Keystone Pipeline Debate