Morning Update: Major Indices Lower Ahead of the Bell

First Look

Major indices are lower in the premarket Friday. The European Union granted the U.K. an unconditional two-week extension in order to delay a no-deal Brexit ahead of the March 29 deadline. British Prime Minister Theresa May will have until April 12 to get her deal passed, or she will be faced with the decision to either leave the EU without an agreement or request a considerably larger extension. If May can get the deal passed, the U.K. will withdraw from the EU on May 22. While May remains confident, her agreement deal has twice been defeated in a Parliament vote. The Nasdaq is down -0.35%, the S&P 500 is down -0.45%, the Dow Jones is down -0.52%.

Today's market outlook is Neutral

Art, in itself, is an attempt to bring order out of chaos.
Stephen Sondheim

Stocks on the Move

Best Buy Co Inc (BBY), NextEra Energy Inc (NEE) and BB&T Corporation (BBT) are moving higher this morning, while Nike Inc (NKE), Tiffany & Co. (TIF) and Linde PLC (LIN) are headed lower. Chipotle Mexican Grill, Inc. (CMG), Stanley Black & Decker, Inc. (SWK) and Commercial Metals Company (CMC) were upgraded by analysts this morning, while Sherwin-Williams Co (SHW), PPG Industries, Inc. (PPG) and Booking Holdings Inc (BKNG) were downgraded.

International Markets

Stocks in Asia are up. The Australia ASX All Ordinaries is up 0.44%, the Hang Seng is up 0.14%, the Shanghai SE Composite Index is up 0.09% the Shanghai SE Composite Index is up 0.09% and the Mumbai Sensex is up 0.06%. Stocks in Europe are down. The FTSE 100 is down -1.32%, the CAC 40 is down -1.22%, the Euro Stoxx 50 is down -1.11% and the DAX is down -0.74%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.56 at 59.42 per barrel. Brent crude is down -0.79 at 67.07 per barrel. Natural Gas is down -0.05 at 2.77. Precious metals are mixed this morning. Gold is up 2.83 at 1312.19 per ounce. Platinum is down -4.34 at 857.26 while silver is up 0.02 at 15.46. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,038,745 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 604,610 put contracts. The single-session put/call was 0.58 while the 20-day moving average is now at 0.62.

Earnings Expected Today

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  • Last Price:
    $299.55
  • Previous Close:
    $297.90
  • Day's Range:
    $298.22 - $299.86
  • 52-week Range:
    $301.13 - $233.76
  • Last Price:
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  • Previous Close:
    $271.65
  • Day's Range:
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  • 52-week Range:
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  • Last Price:
    $193.36
  • Previous Close:
    $192.53
  • Day's Range:
    $192.29 - $193.60
  • 52-week Range:
    $194.19 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Existing Home Sales Feb 10:00
Wholesale Inventories Jan 10:00
Treasury Budget Feb 14:00

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