Wall Street’s major averages followed up their best

Wall Street's major averages followed up their best week of 2012 with the biggest Monday drops of the year, as we continue to see volatile mood swings by investors. Of the past six times that the S&P 500 has been down 1 percent or more on the first trading day of the week, it's only finished the week on the upside once.
Investors will have a handful of stats to consider during today's trading session. The National Federation of Independent Business will be out at 7:30 a.m. New York Time with its small business sentiment index for May, expected to remain unchanged from the April reading of 94.5.
At 8:30 a.m. New York Time, the government issues its May report on import and export prices, with economists expecting both those measures to drop.
At 2 p.m. New York Time, the Treasury issues May federal budget figures, with consensus forecasts calling for a $125 billion deficit compared to the May 2011 shortfall of $57.6 billion.
The Treasury is also set to auction $32 billion in 3-year notes today, with the results of that sale available shortly after 1 p.m. New York Time.
Just a handful of earnings reports out today, including financial data provider FactSet (FDS) and luxury goods maker Michael Kors (KORS).
Juniper Networks (JNPR) is a stock to watch today, as the networking equipment maker announces a stock buyback of up to $1 billion. This plan is in addition to a prior $1 billion program, which has $162.2 billion in buyback authorization remaining.
Texas Instruments (TXN) could be under pressure after its mid-quarter update. The chipmaker has narrowed its second quarter EPS outlook to $0.32 — $0.36, short of estimates of $0.41. But analysts do point out that the mid-range of the new forecast remains intact, with demand for TI chips steady despite a shaky global economy.
Agrium (AGU) says it expects earnings for the second quarter and the year's first half to be near or at the top of its previous guidance, as it sees strong results across its fertilizer business. The prior second quarter guidance range had been $4.18 — $4.78 per share, versus analyst estimates of $4.57.
Sanofi (SNY) says its Genzyme unit is applying for both U.S. and European approval for its multiple sclerosis treatment Lemtrada. Lemtrada is administered just once per year, versus daily or weekly applications for older MS drugs.
Eastman Kodak (EKDKQ) has applied for bankruptcy court permission to auction its Digital Capture and Kodak Imaging Systems patent portfolios. Those portfolios hold more than 1,100 patents, as Kodak tries to raise money to lift itself out of bankruptcy.

Wall Street’s major averages followed up their best