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Candle Lighting Time for Albany, NY:
Friday, July 21, 2017 8:08 pm

Financial updates

finance-markets16By Benjamin J. Chuckrow
Friday, July 21, 2017 – Stock index futures are indicating a lower open on Friday. The Dow and S&P 500 are down 0.1% in pre-market action. The Nasdaq 100 is trading 0.2% below fair value on GLOBEX.

The major averages are poised to decline as corporate earnings continue to dominate on Wall Street. General Electric is sliding 1.1% to $26.41 as quarterly revenue was down 12% from a year ago. Microsoft is losing 0.6% to $73.75 despite posting strong gains in its cloud computing business.

Elsewhere in earnings, Visa is adding 0.8% to $98.90 as strong quarterly results were driven by an increase in payment volume, up 12.1% year-over-year. Capital One is climbing 4.6% to $84.70 after beating estimates on the top and bottom lines.

European markets are declining near mid-session. The broad Euro STOXX 600 is off 0.4% as investors digest the European Central Bank’s decision to leave interest rates unchanged Thursday. In fixed income, bonds are advancing and the euro is on pace for its strongest level against the dollar since January 2015 on bets the ECB will start tapering its stimulus program. ECB President Draghi stated Thursday that the central bank will discuss in the autumn plans to unwind quantitative easing. In Asia, Japan’s Nikkei 225 fell 0.2% in sympathy with a stronger yen. Chinese equities finished lower with the Shanghai Composite sliding 0.2% overnight.

Treasuries are edging higher with the benchmark 10-year note up 4/32 to yield 2.24%. In commodities, NYMEX WTI crude is losing 1% to $46.47/barrel. COMEX gold is adding 0.3% to $1249.20/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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