Markets Fall to Start the Week

First Look

Major indices are lower ahead of the open Monday morning. Trade tensions continue to escalate after President Trump said Friday that trade negotiations scheduled for September may or may not happen. Chinese officials are remaining cautious on monetary policy by postponing the possibility of a stimulus plan and keeping it as an option as concerns of the lingering trade war changing to a global currency war rise. The People’s Bank of China called for a “rational” view on the situation Friday, with officials saying the country must prepare for long-term conflicts. Hong Kong cancelled all remaining flights Monday as protesters continue to clash with police. Chinese officials said the demonstrations are showing signs of “terrorism”, and concern is mounting that China may use force to restore order in the city. The Dow Jones is down -0.7%, the S&P 500 is down -0.73%, the Nasdaq is down -0.79%.

Today's market outlook is Bullish

Never trust a computer you can't throw out a window.
Steve Wozniak

Stocks on the Move

SYSCO Corporation (SYY), PPL Corp (PPL) and Perrigo Company PLC (PRGO) are moving higher this morning, while Align Technology, Inc. (ALGN), Tapestry Inc (TPR) and JPMorgan Chase & Co. (JPM) are headed lower. News Corp Class A (NWSA), Humana Inc (HUM) and New Relic Inc (NEWR) were upgraded by analysts this morning, while Occidental Petroleum Corporation (OXY), bluebird bio Inc (BLUE) and Apple Hospitality REIT Inc (APLE) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 1.45%, the Mumbai Sensex is up 0.68%, the Nikkei 225 is up 0.44% the Australia ASX All Ordinaries is up 0.1% and the Hang Seng is down -0.2%. Stocks in Europe are down. The CAC 40 is down -0.45%, the FTSE 100 is down -0.42%, the Euro Stoxx 50 is down -0.3% and the DAX is down -0.24%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.45 at 54.05 per barrel. Brent crude is down -0.29 at 58.24 per barrel. Natural Gas is down -0.01 at 2.11. Precious metals are mixed this morning. Gold is up 7.49 at 1504.44 per ounce. Platinum is down -1.39 at 859.54 while silver is up 0.03 at 16.97. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 874,906 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 594,070 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.69.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
Treasury Budget Jul 14:00

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