July 2, 2013 -- 8:30 a.m. ET - 07/02/13

Futures are pointing to a quiet open in New York. The Dow and S&P 500 are up 0.1% on Globex while the NASDAQ trades 0.2% above fair value. Investors are optimistic heading into the opening bell after the Reserve Bank of Australia maintained their current policy measures. On our shores, economic data will also be a factor in trading. After the open, May factory orders are expected to show a 2% increase. Automobile stocks could be active in the session ahead of the June motor vehicle sales report. Shares of Ford are up 0.5% in pre-market action and General Motors is higher by 0.4%. On the earnings front, Constellation Brands is off 2.5% after the company fell short of analysts estimates in the quarter. Shares of Zynga are getting a boost this morning. The mobile game developer is up 7% on news that Microsoft executive Don Mattrick will step in as CEO of the company. In other news, Achillion Pharmaceuticals is off 21.4% after the FDA put a hold on the companys oral hepatitis C treatment, citing safety concerns. Turning to fixed income markets, Treasuries are little changed along the curve. The benchmark 10-year note is down 1/32 to yield 2.48% and the 30-year bond is up by 3/16 of a point to yield 3.47%.


Benjamin J. Chuckrow
Senior Vice President
Branch Manager
Wells Fargo Advisors
37 Henry Street, Suite 201
Saratoga Springs, NY 12866
Tel: 518-581-5049
Fax: 518-581-5055
Toll Free: 800-581-5196
www.chuckrow.wfadv.com
ben.chuckrow@wfadvisors.com
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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