Morning Update for June 13, 2018

First Look

Stocks in the U.S. are pointed toward a modestly higher open Wednesday morning. The Federal Reserve meeting is likely the big news of day. With almost everyone expecting a rate hike, the focus will be on the statement and dot plot as traders try to determine if the central bank will raise rates thee or four times this year. The Nasdaq is up 0.27%, the S&P 500 is up 0.18%, the Dow Jones is up 0.14%.

Today's market outlook is Neutral

Clint Eastwood
Respect your efforts, respect yourself. Self-respect leads to self-discipline. When you have both firmly under your belt, that's real power.
Clint Eastwood

Stocks on the Move

Twenty-First Century Fox Inc (FOXA), Stryker Corporation (SYK) and Discovery Inc (DISCA) are moving higher this morning, while H & R Block Inc (HRB), Boston Scientific Corporation (BSX) and Comcast Corporation (CMCSA) are headed lower. Eagle Materials, Inc. (EXP), Signature Bank (SBNY) and Sprint Corp (S) were upgraded by analysts this morning, while Square Inc (SQ), MGIC Investment Corp. (MTG) and Applied Materials, Inc. (AMAT) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 0.38%, the Mumbai Sensex is up 0.13%, the Australia ASX All Ordinaries is down -0.51% the Shanghai SE Composite Index is down -0.97% and the Hang Seng is down -1.22%. In Europe stocks are up. The FTSE 100 is up 0.43%, the DAX is up 0.3%, the CAC 40 is up 0.27% and the Euro Stoxx 50 is up 0.26%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.34 at 66.02 per barrel. Brent crude is down -0.08 at 75.8 per barrel. Natural Gas is up 0.02 at 2.96. Precious metals are mixed this morning. Gold is down -0.98 at 1294.99 per ounce. Platinum is down -4.32 at 894.95 while silver is up 0.05 at 16.95. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,121,773 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 556,234 put contracts. The single-session put/call was 0.50 while the 20-day moving average is now at 0.58.

Earnings Expected Today

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Daily Action Trades for June 13, 2018

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  • Last Price:
    $285.02
  • Previous Close:
    $284.06
  • Day's Range:
    $283.37 - $285.56
  • 52-week Range:
    $286.63 - $241.83
  • Last Price:
    $256.51
  • Previous Close:
    $255.40
  • Day's Range:
    $255.03 - $257.12
  • 52-week Range:
    $265.93 - $215.73
  • Last Price:
    $179.86
  • Previous Close:
    $179.82
  • 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 06/09 07:00
PPI (+ Core) May 08:30
Crude Inventories 06/09 10:30
FOMC Rate Decision Jun 14:00

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