Weather Alert

Snow Develops Tuesday Afternoon, Transitions to Sleet and Freezing Rain at Night

The next storm will spread snow into the region from the mid to late afternoon on Tuesday with a transition to sleet then freezing rain in many areas prior to midnight.  Snow accumulations prior to the switch will be variable and depedent on the exact timing of the changeover but in general appear will range from 2"-4".  Locally 3"-6" of snow will be possible in the Mohawk valley, Adirondacks, Lake George-Saratoga Region, Vermont and the Berkshires where snow is more likely to last longer.  0.10" to 0.15" of ice accretion will be possible into early Wednesday morning on top of the snow.

WEATHER ALERT

February 19, 2014 -- 4:15 p.m. - 02/19/14

The major averages ended at their worst levels of the session. The Dow Jones Industrial Average gave up 89 points to 16,040 after being up by as many as 95 points in early action. The S&P 500 shed 12 points to 1828 and the NASDAQ was off 34 points with the index closing at 4237.

Stocks were choppy throughout the session as investors digested a batch of mixed economic reports and combed through the FOMCs January meeting minutes. Energy stocks were active as crude oil prices advanced 1% to $103.44 per barrel and natural gas prices rose to a 4-year high.

On the earnings front, CF Industries gained 5% to $237.62 after the company posted quarterly results that topped analysts expectations. Panera Bread also ended higher, up 3.6% to $179.56 despite lowering their current-quarter earnings outlook.

Composite volume on the NYSE was more than 3.6 billion shares with declining issues besting advancers by a 2-1 margin. The NASDAQ was 5-2 negative on issues.

Turning to fixed income markets, Treasuries ended lower along the curve. The benchmark 10-year note was down 3/16 of a point to yield 2.74% and the 30-year bond gave up 1/2 of a point to yield 3.71%.

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.

 

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