Morning Update for May 17, 2018

First Look

Major U.S. equity indices are pointed lower ahead of Thursday’s open. Treasury yields and oil continue to rise, while ongoing trade negotiations with China and with Canada and Mexico have created some uncertainty for large multi-nationals. The Dow Jones is down -0.11%, the S&P 500 is down -0.19%, the Nasdaq is down -0.38%.

Today's market outlook is Neutral

Anyone who isn't confused really doesn't understand the situation.
Edward R Murrow

Stocks on the Move

Waste Management, Inc. (WM), TechnipFMC plc Ordinary Share (FTI) and Kroger Co (KR) are moving higher this morning, while Nektar Therapeutics (NKTR), Cisco Systems, Inc. (CSCO) and Take-Two Interactive Software Inc (TTWO) are headed lower. Teradata Corporation (TDC), Commercial Metals Company (CMC) and Nucor Corporation (NUE) were upgraded by analysts this morning, while Molson Coors Brewing Co (TAP), CBS Corporation (CBS) and Progressive Corp (PGR) were downgraded.

International Markets

Stocks in Asia are down. The Mumbai Sensex is down -0.67%, the Hang Seng is down -0.54%, the Shanghai SE Composite Index is down -0.48% the Australia ASX All Ordinaries is down -0.18% and the Nikkei 225 is up 0.53%.In Europe stocks are up. The CAC 40 is up 0.4%, the DAX is up 0.29%, the Euro Stoxx 50 is up 0.26% and the FTSE 100 is up 0.23%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.69 at 72.18 per barrel. Brent crude is up 0.69 at 79.97 per barrel. Natural Gas is down -0.01 at 2.81. Precious metals are mixed this morning. Gold is down -2.68 at 1288.05 per ounce. Platinum is down -6.58 at 885.28 while silver is up 0.08 at 16.45. 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, 990,611 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 499,498 put contracts. The single-session put/call was 0.50 while the 20-day moving average is now at 0.62.

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  • Day's Range:
    $263.00 - $266.98
  • 52-week Range:
    $293.94 - $233.76
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  • Day's Range:
    $244.51 - $247.40
  • 52-week Range:
    $269.28 - $216.97
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  • Day's Range:
    $163.82 - $166.02
  • 52-week Range:
    $187.53 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Initial Claims 05/12 08:30
Continuing Claims 05/05 08:30
Philadelphia Fed May 08:30
Leading Indicators Apr 10:00
Natural Gas Inventories 05/12 10:30

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