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Financial updates

finance-markets16By Benjamin J. Chuckrow
Friday, March 24, 2017 – Stock index futures are indicating a higher open on Friday. The Dow, S&P 500 and Nasdaq 100 are all trading 0.2% above fair value on GLOBEX.

The major averages are poised to advance as investors await a vote for the Republican initiative to repeal and replace the Affordable Care Act. On Thursday, stocks finished lower after Congress delayed a vote on the health-care reform bill. Amid the delay, President Donald Trump warned the Republican members of the House that he will leave Obamacare unchanged if they do not approve the bill.

In earnings, Micron Technology is climbing 13.5% to $30.05 as the chip maker beat Wall Street profit estimates and provided optimistic forward guidance. Shares of GameStop are down 11% to $21.33 after quarterly revenue came in below forecasts amid softness in physical game sales.

European markets are declining near mid-session with the broad Euro STOXX 600 down 0.4%. In economic news, composite PMI data for the Eurozone came in stronger-than-expected in March, with business activity growing at the fastest rate since 2011. In Asia, Japan’s Nikkei 225 added 0.9% after the yen halted its longest rally since 2011. In central bank news, Bank of Japan Governor Haruhiko Kuroda stated on Friday that he wants to push ahead with a low-rate policy. Chinese markets finished higher with the Shanghai Composite gaining 0.6% overnight.

Treasuries are edging higher with the benchmark 10-year note up 1/32 to yield 2.41%. In commodities, NYMEX WTI crude is adding 0.6% to $47.99/barrel. COMEX gold is off 0.1% to $1246.10/ounce.

This information was prepared by or obtained from sources that Wells Fargo Advisors believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the authors as of the date of the report and are subject to change without notice. Any market prices are only indications of market values and are subject to change. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Contact your Financial Advisor for additional information.

Benjamin J. Chuckrow

Senior Vice President – Branch Manager
Wells Fargo Advisors, LLC

37 Henry Street ,Suite 201
Saratoga Springs, NY 12866
518-581-5049 , 1-800-581-5196
Fax 518-581-5055  Cell 518-316-3848
ben.chuckrow@wfadvisors.com
www.chuckrow.wfadv.com

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