Morning Update: Markets Flat Before the Bell

First Look

Major indices are relatively unchanged before the open Monday. Negotiators from the European Union have been given approval to begin talks with the U.S. on removing tariffs on industrial goods. New tariffs have been threatened by both the EU and the U.S. amid a long-standing dispute over aircraft manufacturer subsidies. Negotiators from Japan are scheduled to meet in Washington next week to being trade talks with the U.S. to preemptively avoid any long-term dispute like the current situation between the U.S. and China. The Dow Jones is up 0.01%, the S&P 500 is down -0.02%, the Nasdaq is down -0.06%.

Today's market outlook is Neutral

milton_friedman
We have a system that increasingly taxes work and subsidizes nonwork.
Milton Friedman

Stocks on the Move

Waste Management, Inc. (WM), CVS Health Corp (CVS) and Western Digital Corp (WDC) are moving higher this morning, while Alliance Data Systems Corporation (ADS), E*TRADE Financial Corp (ETFC) and HCA Healthcare Inc (HCA) are headed lower. Franklin Resources, Inc. (BEN), Pioneer Natural Resources (PXD) and Huntsman Corporation (HUN) were upgraded by analysts this morning, while Nokia Oyj (NOK), Infosys Ltd ADR (INFY) and Wells Fargo & Co (WFC) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 1.37%, the Mumbai Sensex is up 0.36%, the Australia ASX All Ordinaries is up 0.01% the Hang Seng is down -0.33% and the Shanghai SE Composite Index is down -0.34%. In Europe stocks are mixed. The DAX is up 0.13%, the CAC 40 is up 0.11%, the Euro Stoxx 50 is up 0.09% and the FTSE 100 is down -0.13%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.65 at 63.24 per barrel. Brent crude is up 0.6 at 70.95 per barrel. Natural Gas is down -0.04 at 2.62. Precious metals are down this morning. Gold is down -3.21 at 1287.22 per ounce. Platinum is down -7.08 at 884.19 while silver is down -0.08 at 14.89. 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, 1,200,243 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,141,365 put contracts. The single-session put/call was 0.95 while the 20-day moving average is now at 1.

Earnings Expected Today

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  • Last Price:
    $298.08
  • Previous Close:
    $299.70
  • Day's Range:
    $297.41 - $300.67
  • 52-week Range:
    $302.63 - $233.76
  • Last Price:
    $269.19
  • Previous Close:
    $270.77
  • Day's Range:
    $269.09 - $271.76
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $190.80
  • Previous Close:
    $192.84
  • Day's Range:
    $190.16 - $193.31
  • 52-week Range:
    $195.55 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Empire State Manufacturing April 08:30

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