The Day Ahead: Retail Sales, FOMC Minutes, Long Bond Auction
ByPosted To: MBS Commentary
Stocks are once again set to open higher after Intel beat estimates with sales jumping by more than a third in the second quarter. The computer chip producer saw net income of $2.9 billion in the quarter versus a $398 million loss in the same period one year ago, according to Reuters . Stocks have already rallied around 7% over the past five days, including 676 point advance for the Dow Jones Industrial Average. Ninety minutes before the opening bell, Dow futures are 33 points higher at 10,087.75 and S&P 500 futures are up 2.25 points to 1,092.00. S&Ps hit 1099.00 in the overnight session. Meanwhile, Treasuries seem to in a holding pattern ahead of a busy day of data and events. The 2-year Treasury note is +0-01 at 99-30 yielding 0.657% (1.2bps) and the benchmark 10-year note is +0…(read more)