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Candle Lighting Time for Albany, NY:
Friday, September 21, 2018 6:36 pm

Financial updates

finance-markets16By Benjamin J. Chuckrow
Friday, September 21, 2018 – Stock index futures are indicating a flat opening Friday. The Dow is climbing 0.1%, while the S&P 500 is off less than 0.1% in pre-market action. The Nasdaq 100 is trading less than 0.1% below fair value on the GLOBEX.

The major averages are hovering near the flat line Friday after the Dow and S&P 500 closed at record highs on Thursday. Today, the upcoming GICS sector changes will garner an outsized focus from investors. Trading volume could be considerably higher than normal on Friday, as fund companies and ETF providers rebalance their products to account for the new GICS sector reclassification. In addition, today’s session falls on a “quadruple witching day”, in which futures and options on indexes and individual stocks expire the same day. On the data front, research firm Markit is set to release the latest readings on activity levels in both the services and manufacturing sectors for the month of September.

In earnings news, Micron is falling 4.5% to $44.00 after the chipmaker topped profit forecasts but warned the trade dispute could negatively impact future profits and demand.

European bourses are higher at mid-session. The Euro STOXX 600 is adding 0.3% while the FTSE 100 is up 0.8% in London. In Asia overnight, Japan’s Nikkei 225 advanced 0.8% while the Shanghai Composite jumped 2.5% in China.

Treasuries are little changed, with the yield on the 10-year flat at 3.07%. In commodities, WTI crude is up 0.8% to $71.13/barrel. COMEX gold is off 0.3% to $1204.05/ounce despite a weaker dollar.

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


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