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Candle Lighting Time for Albany, NY:
Friday, May 26, 2017 8:04 pm

Financial updates

finance-markets16By Benjamin J. Chuckrow
Wednesday, May 24, 2017 – Stock index futures are little changed on Wednesday. The Dow, S&P 500 and Nasdaq 100 are trading 0.1% above fair value on GLOBEX.

The major averages are poised to open flat ahead of the afternoon release of the FOMC meeting minutes from May. Investors will be looking for hints on whether the Federal Reserve will possibly raise interest rates at its next meeting in June. On the data front, an update on existing home sales will be released shortly after the opening bell.

In earnings, Lowe’s Companies is losing 3.3% to $79.65 as the home improvement retailer missed estimates on the top and bottom lines. Tiffany & Co is sliding 5.8% to $87.71 after same-store sales posted an unexpected decline this quarter.

European markets are fluctuating near mid-session with the broad Euro STOXX 600 up 0.1%. In stock news, Fiat Chrysler Automobiles NV is losing 1.4% amid reports the U.S. Justice Department sued the Italian-American carmaker over diesel emissions. Elsewhere, the U.K.’s FTSE 100 is adding 0.3% as British stocks look to rebound after declining Tuesday due to a suspected terrorist attack in Manchester. In Asia, Chinese equities edged higher despite Moody’s reducing the credit rating for the world’s second largest economy for the first time since 1989. Moody’s downgraded China’s rating to A1 from Aa3, while changing its outlook to stable from negative.

Treasuries are edging higher with the benchmark 10-year note up 1/32 to yield 2.28%. In commodities, NYMEX WTI crude is slipping 0.1% to $51.44/barrel. COMEX gold is off 0.3% to $1251.90/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


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