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Financial updates

finance-markets16Thursday, August 15, 2019 – U.S. futures are fluctuating Thursday, as investors digest a flurry updates, including trade headlines, a key corporate earnings report, and economic releases. The Dow and S&P 500 are both rising 0.4% in pre-market action. The Nasdaq 100 is trading 0.3% above fair value on the GLOBEX.

The major averages rallied overnight, in an attempt to rebound from yesterday’s session in which the Dow posted its worst day of the year. Those gains were erased early this morning after Beijing vowed to retaliate against the most recent tariffs proposed by Washington. Stocks are now set to open higher after Walmart’s quarterly profit and sales exceeded analyst forecasts. The retail giant also lifted its full-year guidance and is climbing 6.6% in pre-market trading. Positive data reports are also providing a tailwind to equities, as retail sales advanced 0.7% in July, the largest uptick since March. Separately, the Empire State Manufacturing Survey and the Philadelphia Fed Business Outlook indicated continued expansion in August. Additionally, initial jobless claims came in at 220,000 in the most recent week.

Treasuries are stabilizing, with the yield on the 10-year note off one basis point to 1.57% after touching 1.52% overnight, the lowest level in three years. The yield on the two-year note remains just below this point, currently at 1.55%. This follows yesterday’s session in which this portion of the curve inverted, causing investor anxiety over a slowdown in global growth.

Across the pond, the Euro STOXX 600 is unchanged. The Shanghai Composite added 0.3%, while Japan’s Nikkei 225 fell 1.2% overnight.

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.

Wells Fargo Advisors is registered with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, but is not licensed or registered with any financial services regulatory authority outside of the U.S. Non-U.S. residents who maintain U.S.-based financial services account(s) with Wells Fargo Advisors may not be afforded certain protections conferred by legislation and regulations in their country of residence in respect of any investments, investment transactions or communications made with Wells Fargo Advisors.

Wells Fargo Advisors is a trade name used by 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. ©2019 Wells Fargo Clearing Services, LLC. All rights reserved. CAR# 1018-02987, 0819-00261.

Brought to you by Benjamin J. Chuckrow

Benjamin J. Chuckrow
Senior Vice President – Branch Manager
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


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