Morning Update: Markets Mixed Ahead of the Bell

First Look

Markets are mixed Tuesday morning as problems continue for Boeing Co. (BA). Shares of Boeing stock fell more than 5% Monday following a crash of its best-selling 737 Max in Ethiopia over the weekend, killing all 157 passengers on board. This is the second crash of a 737 Max in five months. China ordered all its carriers to grounds the 96 models of the 737 Max, with Indonesia also cancelling flights. Indonesia is one of Boeing’s biggest customers and are said to be considering switching to the Airbus SE’s A320, possibly suspending any additional orders it has with Boeing. Singapore and Australia both temporarily blocked the 737 Max from their airspace. The Federal Aviation Administration signaled confidence in the 737 Max, issuing a global notice of “continued airworthiness” as investigations continues. Shares of Boeing stock continue to slide, with shares of BA stock down 3.2% in the pre-market. According to China’s state-run Xinhua News Agency, U.S. and Chinese trade officials continued talks overnight, agreeing on arrangements for the next stage of negotiations. While President Trump has said he will need to meet with Chinese President Xi, a date has yet to be announced for a meeting between the two leaders. The Nasdaq is up 0.13%, the S&P 500 is down -0.03%, the Dow Jones is down -0.24%.

Today's market outlook is Neutral

If moderation is a fault, then indifference is a crime.
Jack Kerouac

Stocks on the Move

Centurylink Inc (CTL), American Airlines Group Inc (AAL) and Walgreens Boots Alliance Inc (WBA) are moving higher this morning, while Hewlett Packard Enterprise Co (HPE), Boeing Co (BA) and Gap Inc (GPS) are headed lower. American Electric Power Company Inc (AEP), Eaton Corporation PLC (ETN) and Janus Henderson Group PLC (JHG) were upgraded by analysts this morning, while The Coca-Cola Co (KO), Boeing Co (BA) and Hewlett Packard Enterprise Co (HPE) were downgraded.

International Markets

Stocks in Asia are up. The Nikkei 225 is up 1.79%, the Hang Seng is up 1.46%, the Shanghai SE Composite Index is up 1.1% the Mumbai Sensex is up 1.04% and the Australia ASX All Ordinaries is up 0.04%. In Europe stocks are mixed. The FTSE 100 is up 0.27%, the DAX is down -0.22%, the Euro Stoxx 50 is down -0.28% and the CAC 40 is down -0.29%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.24 at 57.03 per barrel. Brent crude is up 0.31 at 66.89 per barrel. Natural Gas is down -0.01 at 2.77. Precious metals are up this morning. Gold is up 3.63 at 1296.98 per ounce. Platinum is up 15.84 at 834.14 while silver is up 0.15 at 15.43. 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, 1,047,523 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 594,619 put contracts. The single-session put/call was 0.57 while the 20-day moving average is now at 0.62.

Earnings Expected Today

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  • Last Price:
    $279.34
  • Previous Close:
    $284.73
  • Day's Range:
    $279.18 - $283.80
  • 52-week Range:
    $293.94 - $233.76
  • Last Price:
    $255.02
  • Previous Close:
    $259.58
  • Day's Range:
    $254.87 - $258.64
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
    $178.56
  • Previous Close:
    $182.57
  • Day's Range:
    $178.37 - $182.27
  • 52-week Range:
    $187.53 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
NFIB Small Business Optimism Index Feb 06:00
CPI Feb 08:30
Core CPI Feb 08:30

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