May 20, 2014 -- 8:30 a.m. - 05/20/14
Stock index futures are little changed this morning. The Dow and S&P 500 are both up less than 0.1%. The NASDAQ is trading 0.1% above fair value on Globex.
The major averages are indicated to open essentially flat following a round of earnings releases by retailers. Urban Outfitters is falling 3.8% to $34.79 following a disappointing quarterly result last night. Shares of Home Depot are 1.1% lower at $76.50 after earnings missed some analyst estimates and the company increased its full-year outlook. TJX is down 2.4% to $56.99 as it reported profits below consensus projections.
Over in tech, Microsoft is declining 0.3% to $39.62. Shares are modestly lower ahead of a press conference in New York which is widely expected to introduce a smaller version of its Surface tablet.
There are no scheduled data releases today. On the Fed front, Philadelphia Fed President will provide an update on the economic outlook in Washington. New Yorks William Dudley will speak on both the economy and monetary policy this afternoon.
European markets are down at midsession. The FTSE is off 0.5% in London. The DAX is slipping less than 0.1% in Frankfurt. Asian markets were mostly higher overnight. The Nikkei climbed 0.5% in Tokyo ahead of the Bank of Japans monetary policy decision tomorrow. Chinas Shanghai Composite added 0.2% on the session.
Treasuries are modestly higher this morning. Benchmark 10-year notes are up 1/32 to yield 2.54%.
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.