"Selling in May" may not be a great strategy, but there's no getting around the fact that the Dow Jones Industrial Average
Top retailers ring up a small rally
Wal-Mart
Also rallying was Sears Holdings
European worries
Spain and Greece continue to put fear into the markets. Greece teeters on the edge of remaining in the eurozone and cobbling together a government, and the Fitch ratings agency downgraded Greek debt to the lowest possible rating without being in default. Moody's, on the other hand, downgraded 16 Spanish banks, and Spanish government debt yields have crept into territory last seen in November. The European STOXX 50 (INDEX: ^STOXX50E) lost 1.31% today.
Jobless claims
Initial jobless claims for this week were slightly higher than expected, coming in at 370,000 over expectations of 365,000. These numbers keep telling the story of the slow economic recovery and failed to give investors any optimism for future growth.
Coming up
The biggest news story this week will occur tomorrow, with Facebook's IPO. The king of social media will begin at $38 per share, giving it a valuation of about $104 billion. As Fool colleague Alex Planes writes, "to become the next Microsoft, in terms of share-price appreciation, Facebook would have to someday be worth $3 quadrillion." That's a lot of Spring Break picture albums.
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