Our next print edition will be January 24.
Our next eNews will be January 17.

Candle Lighting Time for Albany, NY:
Friday, January 18, 2019 4:32 pm

Ad reservations are accepted until Thursday, 5 p.m., 7 days prior to publication date.

Local news will be accepted for consideration  until Tuesday at 5 p.m., 10 days prior to publication.

Financial updates

finance-markets16By Benjamin J. Chuckrow
Thursday, January 17, 2019 – Stock index futures are indicating a lower open Thursday. The Dow and S&P 500 are both losing 0.3% in pre-market trading. The Nasdaq 100 is trading 0.2% below fair value on GLOBEX.

The major averages are poised to decline as investors digest another round of corporate earnings results. Trade concerns are also weighing on sentiment amid reports U.S. prosecutors are investigating Chinese company Huawei Technologies, and the Trump Administration is considering further automotive tariffs. On the data front, a report showed business activity in the Philadelphia Fed region expanded at a faster pace in January than the prior month. In a separate release, initial jobless claims inched down to 213,000 in the most recent week after coming in at 216,000 the week prior.

In corporate news, Morgan Stanley shares are off 4.5% to $42.51 after the bank reported its trading and wealth management businesses were negatively influence by the fourth-quarter market volatility. Alcoa is down 2.2% to $28.35 after the aluminum maker hinted that supply may outpace demand in 2019. CSX corp. is declining 2.3% to $63.86 as the railroad operator topped Wall Street revenue predictions but missed on the bottom line.

European markets are lower at mid-session. The Euro STOXX 600 losing 0.3% as Financials and automakers lead losses in the region. In Asia overnight, the Nikkei 225 dipped 0.2% while the Shanghai Composite lost 0.4%.

Treasuries are mixed with the yield of the 10-year note down one basis point to 2.72%. In commodities, WTI crude is slipping 2.0% to $51.28/barrel. COMEX gold is losing 0.2% to $1291.70/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
Stuyvesant Plaza Complex
Wells Fargo Advisors
4 Tower Pl, 9th Floor, Albany, NY 12203

518-464-2714 Cell 518-316-3848

Fax 518-456-3440 , 800-688-1680


Leave a reply

Your email address will not be published. Required fields are marked *


This site uses Akismet to reduce spam. Learn how your comment data is processed.