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Candle Lighting Time for Albany, NY:
Friday, September 28, 2018 6:24 pm

Financial updates

finance-markets16By Benjamin J. Chuckrow
Tuesday, September 25, 2018 – Stock index futures are indicating a higher open Tuesday.

The Dow is rising 0.3% while the S&P 500 is up 0.2% in pre-market action. The Nasdaq 100 is trading 0.1% above fair value on the GLOBEX. The major averages are poised to advance amid global trade optimism following an agreement between South Korea and the United States.

On the data front, investors will digest the Conference Board’s latest reading on consumer confidence. Housing price figures, as well as an update on manufacturing in the Richmond Fed district will round out the docket.

In central bank news, the Fed kicks off its two-day policy summit today. In earnings, FactSet is down 5.1% to $219.87 while IHS Markit is losing 2.7% to $52.80 after both financial information providers released disappointing quarterly reports.

In M&A news, Michael Kors is off 0.3% to $66.50 after announcing the purchase of Italy’s Versace brand. European bourses are higher at mid-session. The Euro STOXX 600 is climbing 0.5%. Italy’s FTSE MIB is rallying 1.2% as investors eye a draft of the nation’s latest budget proposal, due Thursday.

In Asia overnight, the Shanghai Composite reopened from a market holiday to a 0.6% loss after the U.S. and China backed out of bilateral trade talks. Treasuries are weaker along the curve, with the yield on the benchmark 10-year note climbing two basis points to 3.10% after touching 3.11% earlier this morning, its best level since May.

In commodities, WTI crude is up 0.5% to $72.45/barrel. COMEX gold is adding 0.1% to $1200.80/ounce amid 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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