Morning Update for October 12, 2017

First Look

Major U.S. equity indices are lower Thursday. Bonds are trading higher as traders digest the minutes from the most recent Federal Reserve meeting, which showed the central bank concerned about low inflation, which could slow the pace of interest-rate increases. JP Morgan (JPM) and Citigroup (C) both turned in quarterly reports this morning that exceeded expectations on the top and bottom lines. The Nasdaq is down -0.07%, the Dow Jones is down -0.08%, the S&P 500 is down -0.16%.

Today's market outlook is Neutral

Louis Zamperini
Don't be afraid to make mistakes; they are just the stepping-stones to success.
Louis Zamperini

Stocks on the Move

DXC Technology Company (DXC), Martin Marietta Materials, Inc. (MLM) and J B Hunt Transport Services Inc (JBHT) are moving higher this morning, while AT&T Inc. (T), Cisco Systems, Inc. (CSCO) and Micron Technology, Inc. (MU) are headed lower. Canadian Pacific Railway Limited (USA) (CP), Kroger Co (KR) and Physicians Realty Trust (DOC) were upgraded by analysts this morning, while Ulta Beauty Inc (ULTA), American Express Company (AXP) and Cummins Inc. (CMI) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 1.09%, the Australia ASX All Ordinaries is up 0.4%, the Nikkei 225 is up 0.35% the Hang Seng is up 0.24% and the Shanghai SE Composite Index is down -0.06%.In Europe stocks are mixed. The FTSE 100 is up 0.39%, the DAX is down -0.02%, the Euro Stoxx 50 is down -0.2% and the CAC 40 is down -0.22%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.71 at 50.59 per barrel. Brent crude is down -0.56 at 56.38 per barrel. Natural Gas is up 0.04 at 2.93. Precious metals are up this morning. Gold is up 0.46 at 1292.18 per ounce. Platinum is up 5.89 at 938.24 while silver is up 0.07 at 17.2. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 735,067 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 456,975 put contracts. The single-session put/call was 0.62 while the 20-day moving average is now at 0.63.

Earnings Expected Today

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  • Last Price:
  • Previous Close:
  • Day's Range:
    $291.81 - $293.22
  • 52-week Range:
    $293.94 - $248.08
  • Last Price:
  • Previous Close:
  • Day's Range:
    $266.59 - $267.61
  • 52-week Range:
    $267.31 - $221.99
  • Last Price:
  • Previous Close:
  • Day's Range:
    $183.48 - $185.48
  • 52-week Range:
    $187.52 - $142.10

Today's Economic Calendar

What's Happening Period Release Time
PPI Sep 08:30
Core PPI Sep 08:30
Initial Claims 10/07 08:30
Continuing Claims 09/30 08:30
Natural Gas Inventories 10/07 10:30
Crude Inventories 10/07 11:00
Treasury Budget Sep 14:00

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