Morning Update: Markets Move Higher

First Look

Stocks are higher before the bell Tuesday. Japan and the U.S. are scheduled to begin bilateral trade talks next week in Washington. Meanwhile, the European Union is seeking a trade deal by September after receiving approval to begin negotiations with the U.S. Talks between the U.S. and China continue. According to reports, China is considering a U.S. request for tariffs on soybeans and other agricultural products to be shifted to other U.S. exports. This is an effort by the Trump administration to claim a win for farmers ahead of the 2020 election. Under this arrangement, China would move retaliatory duties on $50 billion in U.S. goods to non-agricultural imports. The U.S. has said it will not remove tariffs on $50 billion in Chinese imports as part of a trade deal. The Dow Jones is up 0.53%, the Nasdaq is up 0.39%, the S&P 500 is up 0.34%.

Today's market outlook is Neutral

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Stocks on the Move

UnitedHealth Group Inc (UNH), Johnson & Johnson (JNJ) and Netflix, Inc. (NFLX) are moving higher this morning, while J B Hunt Transport Services Inc (JBHT), HollyFrontier Corp (HFC) and Kohl’s Corporation (KSS) are headed lower. Santander Consumer USA Holdings Inc (SC), Marathon Oil Corporation (MRO) and Netflix, Inc. (NFLX) were upgraded by analysts this morning, while DowDuPont Inc (DWDP), Sunoco LP (SUN) and Hess Corp. (HES) were downgraded.

International Markets

Stocks in Asia are up. The Shanghai SE Composite Index is up 2.39%, the Hang Seng is up 1.07%, the Mumbai Sensex is up 0.48% the Australia ASX All Ordinaries is up 0.38% and the Nikkei 225 is up 0.24%. In Europe stocks are up. The DAX is up 0.7%, the FTSE 100 is up 0.47%, the Euro Stoxx 50 is up 0.27% and the CAC 40 is up 0.08%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.23 at 63.63 per barrel. Brent crude is up 0.16 at 71.34 per barrel. Natural Gas is flat 0 at 2.59. Precious metals are down this morning. Gold is down -3.97 at 1283.98 per ounce. Platinum is down -0.5 at 887.35 while silver is down -0.07 at 14.9. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 869,422 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 497,774 put contracts. The single-session put/call was 0.57 while the 20-day moving average is now at 0.61.

Earnings Expected Today

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Today's Economic Calendar

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

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