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

March 7 2014 -- 4:15 p.m. - 03/07/14

The major averages ended mixed on the session. The Dow Jones Industrial Average added 30 points to 16,452 and the S&P 500 was up 1 point to 1878. The NASDAQ shed 15 points with the index closing at 4336. For the week, the Dow advanced 0.8%, the S&P 500 gained 0.9% and the NASDAQ rose 0.6%.

Stocks toggled between gains and losses throughout the session as lingering tensions between Russia and the Ukraine kept investors sidelined. Todays employment data was largely positive. Specifically, non-farm payrolls grew by 175,000 in February, more than the anticipated gain of 150,000 jobs. Despite the gain, the unemployment rate unexpectedly ticked higher to 6.7%.

Corporate earnings were also a factor in the session. Shares of Foot Locker advanced 8.8% to $46.49 after the company exceeded analysts estimates in the quarter. Big Lots also ended higher, rallying nearly 23% to $35.97 following their results. On the downside, Fresh Market declined 2.5% to $33.16 after posting a weaker-than-anticipated earnings report.

Composite volume on the NYSE was more than 3.5 billion shares with declining issues besting advancers by a 7-5 margin. The NASDAQ was even on issues.

Turning to fixed income markets, Treasuries ended lower along the curve. The benchmark 10-year note was down 7/16 of a point to yield 2.79% and the 30-year bond was lower by 9/16 of a point to yield 3.73%.

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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