Markets Slip Tuesday Morning

First Look

Stocks are lower in the pre-market Tuesday. British Prime Minister Boris Johnson will seek a new deal with the European Union after parliament legislation to block a no-deal Brexit was passed into law. Johnson was successful in suspending parliament, but lawmakers voted against a snap general election ahead of the closure. Parliament closed at the end of business Monday and will remain closed through October 14. China is seeking additional foreign capital by removing the $300 billion cap on overseas purchases of Chinese stocks and bonds. The move is to attract overseas investors and increase the use of the yuan in foreign investment by removing the need for approvals prior to purchase. The Dow Jones is down -0.08%, the S&P 500 is down -0.18%, the Nasdaq is down -0.3%.

Today's market outlook is Neutral

Innovation distinguishes between a leader and a follower.
Steve Jobs

Stocks on the Move

Schlumberger Limited. (SLB), Halliburton Company (HAL) and AT&T Inc. (T) are moving higher this morning, while Ford Motor Company (F), Kohl’s Corporation (KSS) and Fox Corp Class A (FOXA) are headed lower. Schlumberger Limited. (SLB), ACADIA Pharmaceuticals Inc. (ACAD) and Boston Properties, Inc. (BXP) were upgraded by analysts this morning, while Wells Fargo & Co (WFC), Dollar General Corp. (DG) and Fox Corp Class A (FOXA) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.44%, the Nikkei 225 is up 0.35%, the Hang Seng is up 0.01% the Shanghai SE Composite Index is down -0.12% and the Australia ASX All Ordinaries is down -0.47%. In Europe stocks are mixed. The DAX is up 0.23%, the FTSE 100 is up 0.02%, the Euro Stoxx 50 is down -0.03% and the CAC 40 is down -0.11%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.59 at 58.44 per barrel. Brent crude is up 0.61 at 63.19 per barrel. Natural Gas is up 0.04 at 2.63. Precious metals are down this morning. Gold is down -8.53 at 1490.6 per ounce. Platinum is down -7.81 at 939.28 while silver is down -0.17 at 18. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,196,821 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 707,290 put contracts. The single-session put/call was 0.59 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
NFIB Small Business Optimism Index Aug 06:00
JOLTS - Job Openings Jul 10:00

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