Most Shared

February 19, 2014 -- 8:30 a.m. - 02/19/14

Stock index futures are pointing to a lower open in New York. The Dow is off 0.3% and the S&P is down 0.4% on Globex. The NASDAQ is trading 0.2% below fair value.

Investors are cautious following a batch of mixed economic reports and ahead of the January FOMC minutes which are scheduled to be released at 2pm ET. Looking at todays data, housing starts fell 16% in January as poor weather conditions hindered new constructions. Separately, final demand PPI in January advanced 0.2%, largely in-line with consensus expectations.

On the earnings front, CF Industries is up 3.1% in pre-market action after the company posted better-than-expected quarterly results. On the downside, Panera Bread is off 1.8% as the company forecasted their current-quarter outlook below analysts estimates, citing reduced store traffic from severe winter weather. In other news, Zale Corp. is rallying over 40% on reports that the company is being acquired by competitor Signet Jewelers for $21 per share.

Turning to fixed income markets, Treasuries are higher along the curve. The benchmark 10-year note is up 1/4 of a point to yield 2.69% and the 30-year bond is higher by 9/32 to yield 3.66%.

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.


Top Stories

See It Loading...
Advertise with us!