June 25, 2013 -- 8:30 a.m. ET - 06/25/13
Futures are pointing to a higher open in New York. The Dow is up 0.6% on Globex while the S&P 500 and the NASDAQ trade 0.8% above fair value. The major averages are looking to pare some of their recent declines. Investors are optimistic ahead of the opening bell following a positive report on durable goods orders. Looking at the numbers, new orders with domestic manufacturers rose 3.6 % in May, topping the 3.3% estimate. At 9am ET, the Case-Shiller Index is expected to show a 1.5% increase in April home prices. After the open, reports on May new home sales and June consumer confidence are expected to hit the tape. Commodity sensitive stocks could be active in the session as crude oil prices rise 0.5% to $95.65 per barrel and gold advances 0.7% to $1285 an ounce. On the earnings front, homebuilder Lennar is up 5.1% in pre-market action after the company posted earnings and revenues ahead of analysts estimates. On the downside, Walgreens is lower by 6.5% following their disappointing profit tally. Turning to fixed income markets, Treasuries are little changed along the curve. The benchmark 10-year note is up 1/8 of a point to yield 2.52% and the 30-year bond is down 7/32 to yield 3.56%.
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.