Morning Update for December 6, 2017

First Look

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.
Albert Einstein

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.

International Markets

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.

Put/Call Ratio

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.

Already a member?

Login to see your daily Morning Action trade idea.

Morning Action Trades for December 6, 2017

Receive a Morning Action trade idea every market day right here in the Morning Update. Also get our Stocks to Watch newsletter every Saturday with trade ideas.

Become A Member

  • Last Price:
  • Previous Close:
  • Day's Range:
    $271.21 - $274.75
  • 52-week Range:
    $293.94 - $252.92
  • Last Price:
  • Previous Close:
  • Day's Range:
    $251.34 - $254.96
  • 52-week Range:
    $269.28 - $233.20
  • Last Price:
  • Previous Close:
  • Day's Range:
    $165.78 - $168.31
  • 52-week Range:
    $187.53 - $150.13

Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 12/02 07:00
ADP Employment Change Nov 08:15
Productivity-Rev. Q3 08:30
Unit Labor Costs - Rev. Q3 08:30
Crude Inventories 12/02 10:30

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available at Privacy policy available upon request.