Morning Update: Markets Mixed Friday Morning

First Look

Markets are mixed ahead of the open Friday morning. President Trump is expected to sign-off on the funding bill approved by Congress later today, avoiding another partial U.S. government shutdown. With the funding bill only including $1.7 billion in border wall funding, the President is also expected to declare a national emergency, pulling nearly $7 billion of federal funds from elsewhere to supplement the construction of the wall. The executive decision will likely end up in federal court, as Congressional Democrats have indicated a desire to block any such move. Treasury Secretary Steven Mnuchin reportedly took a positive stance on the continuing trade talks in China with China’s Vice Premier Liu He, saying things were productive. The Nasdaq is up 0.35%, the S&P 500 is up 0.31%, the Dow Jones is up 0.3%.

Today's market outlook is Neutral

Independence is happiness.
Susan B. Anthony

Stocks on the Move

Arista Networks Inc (ANET), NVIDIA Corporation (NVDA) and PepsiCo, Inc. (PEP) are moving higher this morning, while Newell Brands Inc (NWL), Deere & Company (DE) and CBS Corporation Common Stock (CBS) are headed lower. Insmed Incorporated (INSM), Cincinnati Bell Inc. (CBB) and Copa Holdings, S.A. (CPA) were upgraded by analysts this morning, while The Coca-Cola Co (KO), American International Group Inc (AIG) and Adobe Inc (ADBE) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.15%, the Mumbai Sensex is down -0.44%, the Nikkei 225 is down -1.13% the Shanghai SE Composite Index is down -1.37% and the Hang Seng is down -1.87%. In Europe stocks are up. The CAC 40 is up 1.47%, the DAX is up 1.39%, the Euro Stoxx 50 is up 1.13% and the FTSE 100 is up 0.59%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.53 at 54.94 per barrel. Brent crude is up 0.63 at 65.2 per barrel. Natural Gas is up 0.02 at 2.59. Precious metals are up this morning. Gold is up 5 at 1317.57 per ounce. Platinum is up 2.15 at 790.04 while silver is up 0.12 at 15.65. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 998,836 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 598,491 put contracts. The single-session put/call was 0.60 while the 20-day moving average is now at 0.61.

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Today's Economic Calendar

What's Happening Period Release Time
Export Prices Jan 08:30
Import Prices Jan 08:30
Empire State Manufacturing Index Feb 08:30
Industrial Production Jan 09:15
Capacity Utilization Jan 09:15
Univ. of Michigan Consumer Sentiment - Prelim Feb 10:00

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