October 28, 2013 -- 8:30 a.m. ET - 10/28/13

U.S. stock futures are suggesting a higher open. The Dow and S&P 500 Index are 0.1% above fair value. The NASDAQ is nearly up 0.2% in pre-market action. The major averages are poised to extend last weeks advance ahead of economic data. Industrial production is due out at 9:15 a.m. ET and is expected to be unchanged in September from the prior months reading of 0.4%. The pending home sales report is scheduled for release at 10:00 a.m. ET which is anticipated to rebound in September after a 1.6% decline in August. In addition, the Dallas Feds manufacturing outlook is projected to fall this month after reaching its highest level since February 2012. Investors are also digesting a batch of earnings results. Merck delivered better-than-expected third-quarter earnings, but its shares are down 1.8% ahead of the open after narrowing its 2013 profit outlook. Biogens shares are up 3.3% in early action after posting a 22% jump in profit and raising its full-year outlook. In tech, Apple is higher by 0.4% ahead of the companys earnings report after the close tonight. Treasuries are little changed before this weeks auctions totaling $96 billion in government issuance. The 10-year note is flat to yield 2.51% and the 30-year bond is up 1/32 to yield 3.60%.
 


 

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