Weather Alert

WINTER WEATHER ADVISORY REMAINS IN EFFECT FOR PARTS OF THE AREA

A combination of light rain, freezing rain, and sleet at times tonight - Some slicks spots may develop in spots

WEATHER ALERT


Weather Alert Radar


February 27, 2014 -- 8:30 a.m. - 02/27/14

Stock index futures are headed for a lower open on Thursday. The Dow and S&P 500 Index are at least 0.2% below fair value. The NASDAQ is down 0.1% in early action. Equities are under pressure before the opening bell as investors digest mixed economic data.

Jobless claims unexpectedly jumped by 14,000 last week to 348,000, the highest level since mid-January. A separate report showed durable goods orders declined less than expected, falling 1% in January after a 5.3% drop in the prior month. Monetary policy will also garner attention with Fed Chair Janet Yellen scheduled to testify before the Senate Banking Committee at 10 a.m. ET. Action overseas is also in focus as political and military tensions escalate in Europe after a pro-Russia group occupied government buildings in a peninsula of Ukraine.

On the earnings front, J.C. Penney is rallying 23% in pre-market trading after the company posted improved sales and profit margins while forecasting an unexpected increase in annual revenue. Shares of Best Buy are gaining 6% before the open after the retailer topped earnings expectations despite reporting a decline in fourth-quarter sales.

Treasury prices are advancing for a third day before a government auction of $29 billion in seven-year notes. The 10-year note is up 3/32 to yield 2.66%. The 30-year bond is gaining 11/32 to yield 3.61%.

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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