Weather Alert

POOR DRAINAGE FLOODING POSSIBLE TODAY

While widespread flooding is not expected, multiple rounds of moderate to heavy rain, could result in minor flooding in poor drainage areas. Drivers should watch for standing water, and hydroplaning on area roadways

WEATHER ALERT


Weather Alert Radar


May 27, 2014 -- 8:30 a.m. - 05/27/14

Stock futures are suggesting a higher open following Mondays national holiday. The Dow and S&P 500 are about 0.3% above fair value. The NASDAQ is up 0.4% in early action.

The major averages are poised to advance as investors await a large batch of economic data. Durable goods orders unexpectedly increased by 0.8% in April and the previous months reading was revised higher to a gain of 3.6%. In addition, two separate readings on home prices are scheduled for release at 9:00 a.m. ET.

Other reports are due out after the open, including updates on consumer confidence and manufacturing. Action overseas is also garnering attention. Petro Poroshenko was elected as the new Ukrainian President and vowed to wipe out any separatists. In addition, European Central Bank President Mario Draghi hinted that the bank may take action next Thursday to help avoid deflation and support the euro zones economic recovery.

M&A activity is also in focus. Pfizer is up 0.7% in pre-market trading after saying it abandoned its current attempt to buy AstraZeneca for $119 billion. Meanwhile, Pilgrim's Pride is rallying 4.6% as it offered to buy Hillshire Brands in a deal valued at $6.4 billion.

On the earnings front, AutoZone posted a 7.4% rise in quarterly profit thanks to higher demand for auto parts from some of its key markets.

In fixed-income, Treasuries are little changed. The 10-year note is off 2/32 to yield 2.54%. The 30-year bond is flat to yield 3.39%.

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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