Stocks in the U.S. are pointed to a sharply lower open Thursday morning. A relief rally in futures markets after Tuesdays massive selloff quickly evaporated after reports that the CFO of Huawei, a major Chinese telecommunications firm, was arrested in Canada on behalf of the U.S. This development is likely to further escalate tensions between the U.S. and China, as the two sides are supposed to be negotiating a trade deal. Oil prices are also sliding as a meeting of OPEC ministers gets underway. The S&P is down -1.47%, the Dow Jones is down -1.6%, the Nasdaq is down -1.78%.
Today's market outlook is Neutral
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Stocks on the Move
Activision Blizzard, Inc. (ATVI), FirstEnergy Corp. (FE) and Prudential Financial Inc (PRU) are moving higher this morning, while Chipotle Mexican Grill, Inc. (CMG), Tractor Supply Company (TSCO) and TechnipFMC PLC (FTI) are headed lower. Toyota Motor Corp (TM), Aqua America Inc (WTR) and Hostess Brands Inc (TWNK) were upgraded by analysts this morning, while Toll Brothers Inc (TOL), Macy’s Inc (M) and Facebook, Inc. Common Stock (FB) were downgraded.
Stocks in Asia are down. The Hang Seng is down -2.47%, the Nikkei 225 is down -1.91%, the Shanghai SE Composite Index is down -1.68% the Mumbai Sensex is down -1.59% and the Australia ASX All Ordinaries is down -0.22%.Stocks in Europe are down. The DAX is down -2.43%, the CAC 40 is down -2.26%, the Euro Stoxx 50 is down -2.14% and the FTSE 100 is down -2.07%.
Futures and Currencies
Energy futures are down today. The price for West Texas Intermediate crude oil is down -1.43 at 51.46 per barrel. Brent crude is down -1.4 at 60.16 per barrel. Natural Gas is down -0.06 at 4.4. Precious metals are down this morning. Gold is down -0.3 at 1236.99 per ounce. Platinum is down -9.31 at 790.89 while silver is down -0.11 at 14.48. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.
Yesterday, 910,062 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 632,459 put contracts. The single-session put/call was 0.69 while the 20-day moving average is now at 0.69.
Day's Range:$292.07 - $293.16
52-week Range:$293.94 - $233.76
Day's Range:$265.73 - $266.70
52-week Range:$269.28 - $216.97
Day's Range:$189.65 - $190.71
52-week Range:$190.54 - $143.46
Today's Economic Calendar
|What's Happening||Period||Release Time|
|ADP Employment Change||Nov||08:15|
|Productivity - Rev.||Q3||08:30|
|Unit Labor Costs - Rev.||Q3||08:30|