U.S. stocks are lower ahead of the bell Wednesday after an intra-day reversal on Tuesday. Stocks around the world also declined overnight. Reasons given for the decline range from concerns about the implications of tax and budget negotiations in the U.S. and Brexit in Europe, to early year-end profit taking. Oil is also lower after data showed an increase in stockpiles in the U.S. The Dow Jones is down -0.51%, the S&P 500 is down -0.71%, the Nasdaq is down -1.47%.
Today's market outlook is Neutral
No problem can be solved from the same level of consciousness that created it.
Stocks on the Move
Davita Inc (DVA), and Discovery Communications Inc. (DISCA) are moving higher this morning, while Henry Schein, Inc. (HSIC), Patterson Companies, Inc. (PDCO) and Edison International (EIX) are headed lower. Express Scripts Holding Company (ESRX), Carnival Corp (CCL) and Brown & Brown, Inc. (BRO) were upgraded by analysts this morning, while Aetna Inc (AET), Carnival Corp (CCL) and AutoZone, Inc. (AZO) were downgraded.
Stocks in Asia are down. The Hang Seng is down -2.14%, the Nikkei 225 is down -1.97%, the Mumbai Sensex is down -0.63% the Australia ASX All Ordinaries is down -0.45% and the Shanghai SE Composite Index is down -0.29%.In Europe stocks are mixed. The FTSE 100 is up 0.13%, the CAC 40 is down -0.5%, the Euro Stoxx 50 is down -0.67% and the DAX is down -0.88%.
Futures and Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.67 at 56.95 per barrel. Brent crude is down -0.6 at 62.26 per barrel. Natural Gas is up 0.04 at 2.96. Precious metals are mixed this morning. Gold is up 0.47 at 1266.24 per ounce. Platinum is down -7.73 at 908.42 while silver is up 0.02 at 16.09. 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.
Yesterday, 827,228 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 468,921 put contracts. The single-session put/call was 0.57 while the 20-day moving average is now at 0.61.
Day's Range:$283.37 - $285.56
52-week Range:$286.63 - $241.83
Day's Range:$255.03 - $257.12
52-week Range:$265.93 - $215.73
Day's Range:$178.27 - $180.31
52-week Range:$182.93 - $140.18
Today's Economic Calendar
|What's Happening||Period||Release Time|
|MBA Mortgage Applications Index||12/02||07:00|
|ADP Employment Change||Nov||08:15|
|Unit Labor Costs - Rev.||Q3||08:30|