June 27, 2013 -- 8:30 a.m. ET - 06/27/13
Futures are pointing to a higher open in New York. The Dow is up 0.5% on Globex while the NASDAQ and the S&P 500 trade 0.6% above fair value. Stocks are poised to extend their recent winning streak. Investors are optimistic following some better-than-expected economic reports. Looking at the data, weekly jobless claims fell to 346,000, roughly in-line with the expected level of 345,000. Separately, personal incomes rose 0.5% versus consensus estimates of 0.2% and consumer spending increased by the expected 0.3%. Economic data will remain a focus with a report on May pending home sales scheduled to hit the tape at 10am ET. On the earnings front, ConAgra foods is up 2.8% in pre-market action after the company posted earnings that topped expectations. Winnebago Industries is also higher ahead of the open with shares rallying 4.8% following their better-than-expected profit tally. On the downside, Bed Bath & Beyond is off 1.1% after posting their quarterly results. Turning to fixed income markets, Treasuries are higher along the curve. The benchmark 10-year note is up 13/32 to yield 2.49% and the 30-year bond is advancing about 1/2 of a point to yield 3.54%.
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.