Weather Alert

Rain and T'Storms Expected to Expand in Coverage After 8-9pm

Severe T'Storm Watch until 10pm for Otsego and Delaware counties for the potential for damaging wind gusts with any thunderstorms, otherwise rain and thunderstorms over western New York will move east into eastern New York and western New England between 8-9pm through midnight to 2am.  Locally heavy rain and brief gusty wind will be possible in any of the stronger rain/t'storm elements within a broader area of rainfall.  A general weakening mode with the rain is likely to develop after 9-10pm due to loss of daytime heating.


June 18, 2013 -- 8:30 a.m. ET - 06/18/13

Stock index futures are trading in positive territory this morning. The Dow is up 0.2%. The S&P 500 is gaining 0.1% while the NASDAQ trades 0.3% above fair value on Globex. The major averages are poised to open slightly higher ahead of start of the Feds two-day monetary policy meeting. Futures have pared gains following reports on inflation and the housing market. Prices paid by consumers rose 0.1% in May, less than projections for a 0.2% increase. Excluding food and energy components, the consumer price index was up 0.2%, in line with consensus estimates. Separate reports showed housing starts rose 6.8% to 914,000 and building permits fell 3.1% to 974,000 last month. On the earnings front, Adobe is advancing 1.0% to $43.82 ahead of its scheduled first quarter earnings release after the closing bell tonight. Hormel is falling 4.8% to $38.70 after the meat producer reduced its full year forecast. Shares of Sony are up 3.9% to $21.52 after a report hedge fund Third Point increased its stake in the electronics company. European markets are higher at midsession. The FTSE is advancing 0.9% in London. The DAX is up 0.1% in Frankfurt. Asian markets were mixed and little changed overnight. The Nikkei slipped 0.2% in Tokyo. Chinas Shanghai Composite added 0.1%. Treasuries remain lower following this mornings economic releases. The 10-year note is down 4/32 to yield 2.20%.


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