Markets Rise Ahead of the Bell

First Look

Stocks are higher ahead of the open Tuesday morning. President Trump announced a bipartisan fiscal agreement that would increase federal spending by $320 million. The deal will lift the government’s debt ceiling for two years, allowing an increase in spending on military and domestic programs. Boris Johnson has been elected leader of the British Conservative Party and will become the new British Prime Minister Wednesday. Major U.S. tech companies will be meeting at the White House to discuss economic issues and the possibility of resuming sales to the Chinese tech company Huawei. U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are likely headed to Beijing next week to meet with China’s Vice Premier Liu He for the first round of face-to-face negotiations since the G-20 summit. The Dow Jones is up 0.33%, the Nasdaq is up 0.32%, the S&P 500 is up 0.28%.

Today's market outlook is Neutral

The best way to find out if you can trust somebody is to trust them.
Ernest Hemingway

Stocks on the Move

The Coca-Cola Co (KO), Hasbro, Inc. (HAS) and Lockheed Martin Corporation (LMT) are moving higher this morning, while Centene Corp (CNC), Harley-Davidson Inc (HOG) and QUALCOMM, Inc. (QCOM) are headed lower. Snap Inc (SNAP), Murphy Oil Corporation (MUR) and Mettler-Toledo International Inc. (MTD) were upgraded by analysts this morning, while Viveve Medical Inc (VIVE), Zions Bancorporation NA (ZION) and Cadence Bancorp (CADE) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 0.95%, the Australia ASX All Ordinaries is up 0.46%, the Shanghai SE Composite Index is up 0.45% the Hang Seng is up 0.34% and the Mumbai Sensex is down -0.13%. In Europe stocks are up. The DAX is up 1.68%, the Euro Stoxx 50 is up 1.24%, the CAC 40 is up 0.92% and the FTSE 100 is up 0.63%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.25 at 55.97 per barrel. Brent crude is down -0.34 at 62.92 per barrel. Natural Gas is flat 0 at 2.31. Precious metals are mixed this morning. Gold is down -0.91 at 1423.97 per ounce. Platinum is up 1.7 at 850.39 while silver is up 0.02 at 16.43. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 878,629 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 624,491 put contracts. The single-session put/call was 0.71 while the 20-day moving average is now at 0.61.

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Today's Economic Calendar

What's Happening Period Release Time
FHFA Housing Price Index May 09:00
Existing Home Sales Jun 10:00

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