Teen charged in 5-year-old cousin's murder

Teen charged in 5-year-old cousin's murder


April 22, 2014 -- 8:30 a.m. - 04/22/14

U.S. stock index futures are indicating a flat open. The Dow, S&P 500 and NASDAQ are all about 0.1% below fair value.

Stocks are toggling for direction as investors await economic data and digest a batch of earnings results. On the economic front, the Richmond Feds manufacturing gauge is due out at 10:00 a.m. ET which is expected to rebound in April from the worst reading since last July. At the same time the existing home sales report will be released and is anticipated to show sales dropped for the third straight month in March.

First-quarter earnings results are also garnering attention. Netflix is up 7% in pre-market trading after posting a better-than-expected profit tally and delivering an encouraging current-quarter outlook. Shares of Comcast are also gaining ground, rising 1.3% before the open, as more subscribers led to higher revenue and net income. Earnings will stay in the spotlight after the close with reports due out from AT&T, Amgen, Gilead Sciences, Yum! Brands, VMware and Discover Financial Services.

M&A in health care is also in focus. Allergan is rallying 20% after news that Bill Ackmans Pershing Square teamed up with Valeant Pharmaceuticals to propose a buyout of the company. Separately, GlaxoSmithKline and Novartis agreed to create a new consumer healthcare business.

In fixed-income, Treasuries are mixed before a government auction of $32 billion in two-year notes. The 10-year note is down 2/32 to yield 2.72% and the 30-year bond is flat to yield 3.52%.

This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors.Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.

 

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