By Benjamin J. Chuckrow
Wednesday, February 15, 2017 – Stock index futures are fluctuating ahead of the open Wednesday. The Dow is up 0.1% in pre-market action. The S&P 500 and Nasdaq 100 are trading 0.1% below fair value on GLOBEX.
The major averages are poised to open mixed ahead of Fed commentary and a slate of economic releases. On Tuesday, Fed Chair Janet Yellen stated that waiting too long to raise interest rates would be “unwise,” given the rise in inflation and economic growth. On the data front, a gauge of inflation showed that consumer prices rose 0.6% in January, above analyst expectations.
In earnings, PepsiCo is losing 0.5% to $106.40 as the beverage maker provided a full-year outlook that fell slightly below Street forecasts. Shares of AIG are down 4.6% to $63.75 after taking a $5.6 billion charge against earnings to boost reserves for claims, creating a larger-than-expected quarterly loss.
European markets are advancing near mid-session with the broad Euro STOXX 600 up 0.3%. Financials shares are pacing the gains with Deutsche Bank AG adding 2% as lenders across the region continue their recent ascent. In Asia, Japan’s Nikkei 225 climbed 1% on the session as the index nears a 14-month high. Chinese equities finished mixed with the Shanghai Composite losing 0.2% while the Hang Seng in Hong Kong gained 1.2%.
Treasuries are declining with the benchmark 10-year note down 10/32 to yield 2.50%. In commodities, NYMEX WTI crude is losing 0.7% to $52.83/barrel. COMEX gold is ticking up 0.1% to $1225.40/ounce. In FOREX, the Dollar Index is gaining 0.2%.
This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, member NYSE, FINRA and SIPC and Wells Fargo Bank, National Association Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
Benjamin J. Chuckrow
Senior Vice President – Branch Manager
Wells Fargo Advisors, LLC