July 10, 2013 -- 8:30 a.m. ET - 07/10/13
Stock index futures are little changed this morning. The Dow is fractionally lower, down less than 0.1%. The S&P 500 is off 0.1% while the NASDAQ trades 0.2% below fair value on Globex. The major averages are indicated to open in negative territory as investors await word from the Fed. This afternoon the central bank releases the minutes from its June policy meeting. Shortly after the close, Chairman Bernanke will speak on economic policy in Boston. On the data front, a report may show wholesale inventories increased 0.3% in May. Futures are also lower amid disappointment in a report that showed Chinese imports and exports unexpectedly fell in June. Shares of Family Dollar are 3.1% higher at $65.90 after the discount retailer reported quarterly results that topped analyst projections. Nabors Industries is trading down 4.4% to $15.30 after the land driller reduced its income outlook. YUM! Brands is off 0.2% to $72.50 ahead of its earnings release tonight. European markets are lower at midsession. The FTSE is down 0.5% in London. The DAX is off 0.3% in Frankfurt. Asian markets were mixed in the overnight session. The Nikkei lost 0.4% in Tokyo. Chinas Shanghai Composite advanced 2.2% amid speculation the weak trade data may prompt the government to take measures to spur its economy. Treasuries are little changed with the 10-year note flat to yield 2.63%.
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.