Market opening analysis 7/30

Stock index futures suggest a lower open for the major averages after the government said gross domestic product grew only 2.4% in the second quarter, lower than expected. First quarter growth was revised higher. Reports on Chicago-area factory activity and a private reading of consumer sentiment will be released after the opening bell. Dow components Merck and Chevron posted better-than-expected profits. MetLife swung to a second-quarter profit as revenue improved and the company booked an investment gain on derivatives. Genworth Financial retreated as revenue fell. MEMC Electronic Materials sank after its profit missed analyst estimates. European markets declined overnight. The London FTSE was down 0.6%. The DAX in Frankfurt was down 0.5%. The Nikkei in Tokyo dropped 1.6%. Bonds added to earlier gains after the release of the GDP report. The 10-year Treasury note was up 16/32 to yield 2.92%. The S&P 500 has climbed 6.9% in July with one trading day left.

This information was provided by Benjamin Chuckrow of Wells Fargo Advisors at 37 Henry ST. Saratoga Springs, NY, 12866  (518)-581-5049.

This information was prepared by or obtained from sources that Wells Fargo Advisors believes to be reliable. Any market prices are only indications of market values and are subject to change. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Additional information is available upon request.

Investment and InsuranceProducts:„NOT FDIC Insured„NO Bank Guarantee„MAY Lose Value

Wells Fargo Advisors, LLC, Member SIPC is a registered broker-dealers and a separate non-bank affiliate of Wells Fargo & Company.