June 19, 2013 -- 8:30 a.m. ET - 06/19/13
Stock index futures are little changed this morning. The Dow and S&P 500 are both up 0.1%. The NASDAQ is trading 0.2% above fair value on Globex. The major averages are poised to open slightly higher ahead of the conclusion of the Feds policy meeting and Chairman Bernankes press conference this afternoon. Investors will look for clues from the central bank for indications on whether it will begin to taper its bond-buying program. The Fed will also provide an update on its projections for the U.S. economy. On the earnings front, Adobe is advancing 8.1% to $46.85 after the software maker posted quarterly results above consensus estimates last night. FedEx is 0.5% lower at $98.95 despite reporting profits that topped analyst projections. Shares of chipmaker Micron could be active ahead of its scheduled earnings release after the close. Sprint is off 3.0% to $7.10 after Dish Network said it will not increase its bid to acquire the wireless company. European markets are trading in negative territory at midsession. The FTSE is off 0.4% in London. The DAX is fractionally lower, down less than 0.1% in Frankfurt. Asian markets were mostly higher overnight. The Nikkei advanced 1.8% amid a weaker yen and report that shipments rose more-than-expected in May. Chinas Shanghai Composite fell 0.6% as liquidity concerns continued to weigh on the index. Treasuries are gaining ahead of the conclusion of the Fed policy meeting. The 10-year note is up 5/32 to yield 2.17%.
Benjamin J. Chuckrow
Senior Vice President " Investments
Wells Fargo Advisors
37 Henry Street, Suite 201
Saratoga Springs, NY 12866
Toll Free: 800-581-5196
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.