July 26, 2013 -- 8:30 a.m. ET - 07/26/13

Futures are pointing to a lower open in New York. The Dow and S&P 500 are off 0.4% on Globex while the NASDAQ is trading 0.2% below fair value. Investors are cautious heading into the opening bell following a batch of mixed earnings and ahead of next weeks Fed meeting. Economic data will also be a factor. The July reading on the University of Michigan's consumer sentiment index is expected to edge up to 84 from 83.9. Looking at earnings, shares of Amazon.com are down 1.3% in pre-market action after the company posted a disappointing profit tally and issued a cautious outlook to the current quarter. Online gaming company Zynga is off 17.7% after warning on current quarter earnings and announcing that it halted development of its U.S. online gambling business. On the upside, Starbucks is rallying 6.9% following a better-than-expected profit tally and an increase to their current-quarter and full-year guidance. Stanley Black & Decker is also higher, up 0.6% following their quarterly result. Turning to fixed income markets, Treasuries are higher along the curve. The benchmark 10-year note is up over 1/8 of a point to yield 2.57% and the 30-year bond is up 3/8 of a point to yield 3.63%
 
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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