April 16, 2014 -- 8:30 a.m. - 04/16/14
Stock index futures are higher ahead of the open on Wednesday. The Dow and S&P 500 are both up 0.4%. The NASDAQ is trading 0.5% above fair value on Globex.
The major averages are poised to advance following this mornings housing data. Futures held gains after reports showed starts on new homes increased 2.8% and building permits declined 2.4% in March. Shortly before the open, updates on manufacturing may reveal industrial production rose 0.5% while capacity utilization dipped modestly last month. The Fed will be in focus in todays session. Chairwoman Janet Yellen will speak on the economic outlook. The central bank also releases its Beige Book report on activity in its 12 districts.
On the earnings front, Yahoo! is climbing 7.9% to $36.90 and Intel edging 0.2% higher at $26.82 following their better-than-expected profit results last night. Bank of America is down 1.1% to $16.21 after the lender posted a quarterly loss. Googles A shares are gaining 0.9% to $553.50 ahead of its scheduled earnings release after the close.
European markets are higher at midsession. The FTSE is up 0.5% in London. The DAX is gaining 1.1% in Frankfurt. Asian markets advanced overnight. The Nikkei rallied 3% in Tokyo amid a weaker yen. Chinas Shanghai Composite was 0.2% higher after a report showed the countrys growth slowed less-than-projected in the first quarter.
Treasuries are lower with the 10-year note down 5/32 to yield 2.65%.
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.