Morning Update: Mexico Deal Sends Markets Higher

First Look

Major indices are up ahead of the bell Monday morning. President Trump announced late Friday that he would not be imposing tariffs against Mexico. The tariffs against Mexican imports were slated to begin on June 10, starting at 5% and rising to 25% on an incremental scale. The move follows a pledge from Mexico to secure its southern boarder with Guatemala with up to 6,000 national guard troops to help stem the flow of Central American migrants seeking asylum in the U.S. The Nasdaq is up 0.62%, the Dow Jones is up 0.52%, the S&P 500 is up 0.48%.

Today's market outlook is Neutral

There is nothing more uncommon than common sense.
Frank Lloyd Wright

Stocks on the Move

Raytheon Company (RTN), Advanced Micro Devices, Inc. (AMD) and United Technologies Corporation (UTX) are moving higher this morning, while, inc. (CRM), Eli Lilly And Co (LLY) and Carnival Corp (CCL) are headed lower. Analog Devices, Inc. (ADI), Redfin Corp (RDFN) and United Technologies Corporation (UTX) were upgraded by analysts this morning, while CooTek (Cayman) Inc (CTK), At Home Group Inc (HOME) and Lazard Ltd (LAZ) were downgraded.

International Markets

Stocks in Asia are up. The Hang Seng is up 2.27%, the Nikkei 225 is up 1.2%, the Australia ASX All Ordinaries is up 0.91% the Shanghai SE Composite Index is up 0.86% and the Mumbai Sensex is up 0.43%. In Europe stocks are up. The DAX is up 0.77%, the FTSE 100 is up 0.51%, the CAC 40 is up 0.31% and the Euro Stoxx 50 is up 0.17%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.3 at 54.29 per barrel. Brent crude is up 0.04 at 63.33 per barrel. Natural Gas is up 0.01 at 2.34. Precious metals are down this morning. Gold is down -15.04 at 1325.82 per ounce. Platinum is down -8.87 at 798.18 while silver is down -0.33 at 14.7. 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, 862,138 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 588,704 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.69.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
JOLTS - Job Openings Apr 10:00

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