Morning Update for July 12, 2018

First Look

Stock futures are pointed higher Thursday morning as trade concerns eased on reports that China reached out to the U.S. to restart bilateral negotiations after the latest salvo of tariff threats from the Trump administration. The consumer price index for June came in a touch below estimates, with the headline number showing a 0.1% increase, compared to estimates for a 0.2% increase. Factoring out items like food and energy, the number was 0.2%, in line with estimates. The Dow Jones is up 0.75%, the S&P 500 is up 0.53%, the Nasdaq is up 0.52%.

Today's market outlook is Neutral

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Stocks on the Move

CA, Inc. (CA), International Paper Co (IP) and Freeport-McMoRan Inc (FCX) are moving higher this morning, while Broadcom Inc (AVGO), L Brands Inc (LB) and Regions Financial Corp (RF) are headed lower. Precision Drilling Corp (USA) (PDS), Nabors Industries Ltd. (NBR) and Johnson & Johnson (JNJ) were upgraded by analysts this morning, while SM Energy Co (SM), Broadcom Inc (AVGO) and U.S. Silica Holdings Inc (SLCA) were downgraded.

International Markets

Stocks in Asia are up. The Shanghai SE Composite Index is up 2.16%, the Nikkei 225 is up 1.17%, the Australia ASX All Ordinaries is up 0.79% the Mumbai Sensex is up 0.78% and the Hang Seng is up 0.6%. In Europe stocks are up. The Euro Stoxx 50 is up 0.89%, the DAX is up 0.87%, the FTSE 100 is up 0.61% and the CAC 40 is up 0.57%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.5 at 70.88 per barrel. Brent crude is up 0.92 at 74.32 per barrel. Natural Gas is down -0.02 at 2.81. Precious metals are up this morning. Gold is up 1.91 at 1243.87 per ounce. Platinum is up 7.5 at 835.49 while silver is up 0.08 at 15.9. 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, 704,583 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 418,971 put contracts. The single-session put/call was 0.59 while the 20-day moving average is now at 0.59.

Earnings Expected Today

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Daily Action Trades for July 12, 2018

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  • Last Price:
    $290.82
  • Previous Close:
    $291.02
  • Day's Range:
    $290.79 - $291.65
  • 52-week Range:
    $293.94 - $248.08
  • Last Price:
    $265.19
  • Previous Close:
    $265.42
  • Day's Range:
    $265.15 - $266.12
  • 52-week Range:
    $267.61 - $221.99
  • Last Price:
    $183.33
  • Previous Close:
    $183.89
  • Day's Range:
    $183.18 - $183.99
  • 52-week Range:
    $187.52 - $142.10

Today's Economic Calendar

What's Happening Period Release Time
CPI Jun 08:30
Initial Claims 07/06 08:30
Continuing Claims 06/30 08:30
Natural Gas Inventories 07/06 10:30
Treasury Budget Jun 14:00

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