Weather Alert

Thunderstorms & Poor Drainage Flooding Possible Today

While an isolated instability shower will be possible this morning, the bigger concern is for the storms that develop during the afternoon. While the overall threat for severe weather appears relatively low, one or two storms could produce gusty winds, large hail, and possibly very heavy rain. If heavy rain persists, or if multiple storms move over the same area, then low lying areas, and poor drainage locations, could experience flooding. A second round of late night storms may be possible, but the rain should clear off to the East after midnight.


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WEATHER ALERT


Weather Alert Radar


July 3, 2013 -- 8:30 a.m. ET - 07/03/13

Stock index futures are pointing to a modestly lower open in New York. The Dow, S&P 500 and NASDAQ are all trading 0.2% below fair value on Globex. Investors are cautious heading into the shortened session following some weaker-than-expected Chinese economic data and growing unrest in Europe and the Middle East. In Asia, Chinas official service sector PMI declined to a nine month low. Meanwhile, political instability in Egypt and Portugal are causing global uncertainty. On our shores, economic data is helping keep losses in check. Early reports were positive with ADP private payroll expanding by 188,000 in June, ahead of the anticipated level of 160,000. Weekly jobless claims also topped expectations, falling to 343,000. On the downside, the U.S. international trade gap unexpectedly widened to $45 Billion from $40.1 Billion. After the opening bell, the June reading on ISM non-manufacturing and petroleum inventories are scheduled to hit the tape. Commodity related stocks could be active in the session as crude oil prices rises 1.9% to $101.48 per barrel and gold advances 1% to $1255.80 an ounce. Shares of Chevron are holding their ground, off less than 0.1% in pre-market action while Freeport-McMoRan gains 0.4%. Turning to fixed income markets, Treasuries are little changed along the curve. The benchmark 10-year note is down 1/32 to yield 2.48% and the 30-year bond is up 1/16 to yield 3.47%.

 
Benjamin J. Chuckrow
Senior Vice President
Branch Manager
Wells Fargo Advisors
37 Henry Street, Suite 201
Saratoga Springs, NY 12866
Tel: 518-581-5049
Fax: 518-581-5055
Toll Free: 800-581-5196
www.chuckrow.wfadv.com
ben.chuckrow@wfadvisors.com
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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