Morning Update for March 21, 2018

First Look

Stocks are pointed lower ahead of the open Wednesday morning. China is rumored to be preparing countermeasures to retaliate against U.S. tariffs. The Federal Reserve’s Open Market committee is concluding a two-day meeting today and is widely expected to raise interest rates. Traders will also be pouring over new economic forecasts to see how the monetary policy regime might change under new Chairman Jerome Powell. The S&P 500 is down -0.1%, the Dow Jones is down -0.12%, the Nasdaq is down -0.38%.

Today's market outlook is Neutral

There is some good in this world, and it's worth fighting for.
J.R.R. Tolkien

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Stocks on the Move

Kinder Morgan Inc (KMI), Halliburton Company (HAL) and Devon Energy Corp (DVN) are moving higher this morning, while General Mills, Inc. (GIS),, inc. (CRM) and Kellogg Company (K) are headed lower. Childrens Place Inc (PLCE), Kinder Morgan Inc (KMI) and FedEx Corporation (FDX) were upgraded by analysts this morning, while Instructure Inc (INST), Match Group Inc (MTCH) and Sarepta Therapeutics Inc (SRPT) were downgraded.

International Markets

Stocks in Asia are mixed.The Nikkei is closed today. The Mumbai Sensex is up 0.42%, the Australia ASX All Ordinaries is up 0.2%, the Shanghai SE Composite Index is down -0.29% and the Hang Seng is down -0.43%.In Europe stocks are mixed. The DAX is up 0.19%, the Euro Stoxx 50 is up 0.02%, the CAC 40 is down -0.01% and the FTSE 100 is down -0.35%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.64 at 64.18 per barrel. Brent crude is up 0.8 at 68.22 per barrel. Natural Gas is up 0.02 at 2.7. Precious metals are up this morning. Gold is up 4.31 at 1315.62 per ounce. Platinum is up 0.31 at 988.73 while silver is up 0.04 at 16.23. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 846,066 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 578,492 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.62.

Earnings Expected Today

  • Last Price:
  • Previous Close:
  • Day's Range:
    $270.45 - $271.01
  • 52-week Range:
    $286.63 - $231.61
  • Last Price:
  • Previous Close:
  • Day's Range:
    $246.60 - $247.35
  • 52-week Range:
    $265.93 - $203.64
  • Last Price:
  • Previous Close:
  • Day's Range:
    $167.02 - $167.58
  • 52-week Range:
    $175.21 - $129.40

Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 03/17 07:00
Current Account Balance Q4 08:30
Existing Home Sales Feb 10:00
Crude Inventories 03/17 10:30
FOMC Rate Decision Mar 14:00

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