Some big movers last night were The Wendy’s Company (WEN | $4.52[+0.20]), gaining almost 5% in value. Wendy’s 52-week range moves a little more than a point from 4.16 – 5.58 and hasn’t hit a high since mid August. Dish network Corporation (DISH | $30.13 [-0.89]) fell 2.87%. DISH’s 52-week range low and high is 22.61 and 35.64 respectively. Dish has been gaining ground since the financial crisis in 2008, averaging positive gains, but is down almost 20% since 2007.
US futures are down. DOW, S&P, and NASDAQ are all down 0.21%, 0.27%, and 0.33% respectively. Metals futures are down, silver down the highest percentage at 0.68%. Crude futures are down 0.26%.
Productivity and costs reports will be released in an hour. Productivity measures the growth of labor efficiency in producing the economy’s goods and services and unit labor costs reflect the labor costs of producing each unit of output. Since the beginning of the year, non-farm labor productivity has grown at an average of 0.75% from the previous quarter and unit labor costs are up an average of 1.5%. Consensus has both levels gaining at least 1% this quarter.
Alex Kalish has a masters in economics from Suffolk University.