Market opening analysis 9/9

Stock index futures have extended their gains and signal a higher open for the major averages after a better-than-expected report on the labor market. Initial jobless claims dropped by 27,000 to 451,000 last week. New claims were expected to total 470,000. A separate report showed the trade deficit in the U.S. narrowed more than forecast in July as imports fell and exports climbed to the highest level in almost two years. Shares of McDonalds may be active. Global same-store sales at the restaurant chain increased less than analysts expected in August, but in the U.S., sales beat expectations. Overseas, the Bank of England maintained its emergency bond purchase plan and left its benchmark interest rate at a record low. The London FTSE gained 0.8%. The DAX in Frankfurt was up 0.4%. The Nikkei in Tokyo rose 0.8%. The 10-year Treasury note was down 14/32 to yield 2.71%.

This information was provided by Benjamin Chuckrow of Wells Fargo Advisors at 37 Henry ST. Saratoga Springs, NY, 12866  (518)-581-5049.

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