Morning Update for May 25, 2018

First Look

Stocks in the U.S. are a few ticks below the break-even mark ahead of the open Friday. North Korea sounded a conciliatory tone after President Trump pulled out of a planned summit meeting. Oil prices are slipping today, with West Texas Intermediate falling below $70 after Saudi Arabia said it would discuss ending production cuts now that a global oversupply has cleared. The Nasdaq is down -0.06%, the Dow Jones is down -0.19%, the S&P 500 is down -0.25%.

Today's market outlook is Neutral

Attitude is a little thing that makes a big difference.
Winston Churchill

Stocks on the Move

Foot Locker, Inc. (FL), Paypal Holdings Inc (PYPL) and FMC Corp (FMC) are moving higher this morning, while Gap Inc (GPS), Ross Stores, Inc. (ROST) and Autodesk, Inc. (ADSK) are headed lower. Colgate-Palmolive Company (CL), Paypal Holdings Inc (PYPL) and Novartis AG (ADR) (NVS) were upgraded by analysts this morning, while Zoe’s Kitchen Inc (ZOES), Liberty Tripadvisor Holdings Inc (LTRPA) and Ultra Petroleum Corp. (UPL) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.76%, the Nikkei 225 is up 0.06%, the Australia ASX All Ordinaries is down -0.05% the Shanghai SE Composite Index is down -0.42% and the Hang Seng is down -0.52%. In Europe stocks are up. The DAX is up 0.8%, the CAC 40 is up 0.36%, the FTSE 100 is up 0.1% and the Euro Stoxx 50 is up 0.08%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -1.61 at 69.1 per barrel. Brent crude is down -1.82 at 76.97 per barrel. Natural Gas is up 0.02 at 2.96. Precious metals are down this morning. Gold is down -1.29 at 1303.34 per ounce. Platinum is down -2.13 at 908.33 while silver is down -0.02 at 16.67. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 902,241 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 576,382 put contracts. The single-session put/call was 0.64 while the 20-day moving average is now at 0.61.

Earnings Expected Today

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    $298.22 - $300.03
  • 52-week Range:
    $301.13 - $233.76
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  • Day's Range:
    $271.95 - $273.61
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  • Day's Range:
    $192.29 - $193.81
  • 52-week Range:
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Today's Economic Calendar

What's Happening Period Release Time
Durable Goods + Orders Apr 08:30
Michigan Sentiment - Final May 10:00

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