July 23, 2013 -- 8:30 a.m. ET - 07/23/13
Futures are pointing to a higher open in New York. The Dow is up 0.3% on Globex, the S&P 500 is higher by 0.2% and the NASDAQ trades 0.1% above fair value. Investors are optimistic heading into the session following a batch of positive earnings and after Chinas Premier said that the government would not allow the countrys GDP to fall below 7%. Looking at earnings, shares of DuPont are up 3.6% in pre-market action after the company posted better-than-expected earnings and said it was looking into selling its performance chemicals unit. Also among earnings, Travelers is higher by 1.3% following their quarterly profit tally. On the downside, Netflix is lower by 4.5% despite posting earnings that topped analysts estimates. In other news, cyber security firm Sourcefire is rallying 28.8% on news that it was being acquired by Cisco. Commodity related stocks could also be active today as crude oil prices decline 1% to $105.88 per barrel and gold slides 0.5% to $1329 an ounce. Turning to fixed income markets, Treasuries are lower along the curve. The benchmark 10-year note is down 5/16 to yield 2.52% and the 30-year bond is lower by 3/4 of a point to yield 3.59%.
Benjamin J. Chuckrow
Senior Vice President
Wells Fargo Advisors
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