August 20, 2013 -- 8:30 a.m. ET - 08/20/13
Futures are pointing a modestly higher open in New York. The Dow and S&P 500 are up 0.2% on Globex and the NASDAQ trades 0.3% above fair value. Despite global weakness in the equity markets, U.S. stocks are looking to snap a four-session losing streak. Retailers could be active in the session following several second-quarter earnings reports. Shares of Home Depot are up 3.2% in pre-market action after the home improvement chain topped analysts expectations in the quarter and boosted their full-year outlook. Also on the upside, Best Buy is rallying 10.5% following their better-than-anticipated profit tally. JCPenny Company is higher by 2.2% despite posting a wider-than-expected loss in the quarter as same-store sales came in stronger than estimates. Also in the space, Urban Outfitters is higher advancing 10% following their second-quarter results. Energy stocks could be volatile in the session as crude oil prices decline 1.1% to $105.91 per barrel. Turning to fixed income markets, Treasuries are higher along the curve. The benchmark 10-year note is up 3/8 of a point to yield 2.84% and the 30-year bond is adding over 1/2 of a point to yield 3.87%.
Benjamin J. Chuckrow
Senior Vice President
Wells Fargo Advisors
37 Henry Street, Suite 201
Saratoga Springs, NY 12866
Toll Free: 800-581-5196
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.