Markets Mixed as Trade Talks Resume

First Look

Markets are mixed ahead of the open Friday morning. U.S. and Chinese officials have resumed in-person trade negotiations in Washington. Lower-level talks are laying groundwork for higher-level talks scheduled for October, when U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet again with China’s Vice Premier Liu He. The Trump administration said Chinese officials are scheduled to visit U.S. farmlands next week ahead of top-level negotiations. The Nasdaq is up 0.19%, the Dow Jones is up 0.14%, the S&P 500 is up 0.13%.

Today's market outlook is Neutral

An acre of performance is worth a whole world of promise.
Red Auerbach

Stocks on the Move

United Rentals, Inc. (URI), Eli Lilly And Co (LLY) and Micron Technology, Inc. (MU) are moving higher this morning, while Comcast Corporation (CMCSA), Seagate Technology PLC (STX) and Netflix Inc (NFLX) are headed lower. Costco Wholesale Corporation (COST), Eagle Materials, Inc. (EXP) and Etsy Inc (ETSY) were upgraded by analysts this morning, while Xilinx, Inc. (XLNX), Seagate Technology PLC (STX) and FirstEnergy Corp. (FE) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 5.32%, the Shanghai SE Composite Index is up 0.24%, the Australia ASX All Ordinaries is up 0.21% the Nikkei 225 is up 0.16% and the Hang Seng is down -0.13%. In Europe stocks are up. The Euro Stoxx 50 is up 0.44%, the CAC 40 is up 0.35%, the FTSE 100 is up 0.15% and the DAX is up 0.02%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.59 at 58.72 per barrel. Brent crude is up 0.44 at 64.84 per barrel. Natural Gas is up 0.02 at 2.56. Precious metals are up this morning. Gold is up 2.11 at 1501.14 per ounce. Platinum is up 1.41 at 939.81 while silver is up 0.01 at 17.87. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 996,626 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 662,944 put contracts. The single-session put/call was 0.67 while the 20-day moving average is now at 0.64.

Earnings Expected Today

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