July 8, 2013 -- 8:30 a.m. ET - 07/08/13
Stock index futures are suggesting a higher open on Monday. Dow futures are up 0.4%. The S&P 500 is gaining 0.5% while the NASDAQ trades 0.6% above fair value on Globex. The major averages are poised to advance as investors await the start to second-quarter earnings season. Shares of Alcoa are gaining 0.8% to $7.87 in the pre-market. The aluminum maker will kick off quarterly reporting season with its profit release after the close tonight. On the economic front, the calendar is quiet with a report on consumer credit the only data release expected today. Barrick Gold is 2.0% higher at $14.03 as metal prices rise in early trading. Over in tech, Dell is up 2.7% to $13.38 after a shareholder-advisory firm recommended accepting founder Michael Dells $24.4 billion buyout offer for the PC maker. European markets are higher at midsession as the regions finance ministers prepare to meet in Brussels to discuss whether Greece will receive additional bailout funds. The FTSE is up 1.0% in London. The DAX is rallying 2.4% in Frankfurt. Asian markets closed lower in the overnight session. The Nikkei fell 1.4% in Tokyo. Chinas Shanghai Composite lost 2.4% amid continued concerns of a credit crunch in the country. Treasuries are higher this morning. The 10-year note is up 5/32 to yield 2.72%. The price of the 30-year bond is 17/32 higher to yield 3.68%.
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.