Friday, May 22, 2009

Higher Open Indicated on Friday

Early Friday morning stock futures were indicating a high start to the day.

Treasury Secretary Timothy Geither said that he will work to trim the US budget deficit, critical in order for the country to maintain its AAA rating, according to MSN MoneyCentral.

Gap Inc reported that earnings of $215 million compared to $249 million same quarter sales a year ago, reports MarketWatch. Same store sales fell of by 12 percent at Gap in North America, by 13 percent at Banana Republic and by only 3 percent at Old Navy.

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