May 12, 2014 -- 8:30 a.m. - 05/12/14
Stock index futures are suggesting a higher open on Wall Street. The Dow and S&P 500 are about 0.3% above fair value. The NASDAQ is up 0.5% in early action.
On the economic front, the Treasury Department will release the monthly budget statement at 2 p.m. ET today. The report is anticipated to show a surplus for April of more than $100 billion. Stocks are poised to advance despite concerns surrounding the situation in Ukraine after an eastern region in the country voted to break away from the nation in a referendum.
A possible rebound in the technology sector from last weeks retreat may also help lift the market. Facebook is up 1% before the opening bell while Twitter gains 2.7%. On the M&A front, Hillshire Brands Co. is increasing 3% in pre-market trading after saying it agreed to buy Pinnacle Foods for about $6.6 billion.
In commodities, gold is rising 1% from a one-week low and copper is rallying 2.2%. WTI crude is up for the first time in three days on concern the Ukraine crisis may disrupt oil supplies from Russia.
In fixed-income, Treasuries are extending Fridays retreat. The 10-year note is down 5/32 to yield 2.64% and the 30-year bond is losing 9/32 to yield 3.48%.
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.