Morning Update: Stocks Continue Higher

First Look

Major indices are again pointed higher before the bell Thursday morning. Investors seem confident that things are going well in trade talks and budget negotiations between the White House and congressional leaders as they work to avoid another government shutdown. The current funding deal keeping the U.S. government open will expire tomorrow at midnight. Final approval is needed from President Trump after the funding bill is voted on in Congress, with speculation that he will sign the deal, even though he is not happy about it. Trump is considering extending the March 1 tariff deadline by 60 days, assuming substantial progress is being made between U.S. and Chinese officials. A new set of talks is scheduled to begin today. The Nasdaq is up 0.46%, the Dow Jones is up 0.42%, the S&P 500 is up 0.35%.

Today's market outlook is Neutral

william_shakespeare
The course of true love never did run smooth.
William Shakespeare

Stocks on the Move

Cisco Systems, Inc. (CSCO), Synchrony Financial (SYF) and Marathon Oil Corporation (MRO) are moving higher this morning, while Centurylink Inc (CTL), NetApp Inc. (NTAP) and American International Group Inc (AIG) are headed lower. Exxon Mobil Corporation (XOM), Synchrony Financial (SYF) and Teva Pharmaceutical Industries Ltd (TEVA) were upgraded by analysts this morning, while Centurylink Inc (CTL), NetApp Inc. (NTAP) and Yelp Inc (YELP) were downgraded.

International Markets

Stocks in Asia are down. The Mumbai Sensex is down -0.33%, the Hang Seng is down -0.29%, the Shanghai SE Composite Index is down -0.05% the Nikkei 225 is down -0.02% and the Australia ASX All Ordinaries is down -0.01%.In Europe stocks are up. The CAC 40 is up 0.7%, the FTSE 100 is up 0.46%, the Euro Stoxx 50 is up 0.33% and the DAX is up 0.24%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.54 at 54.44 per barrel. Brent crude is up 0.91 at 64.52 per barrel. Natural Gas is up 0.03 at 2.61. Precious metals are down this morning. Gold is down -1.4 at 1304.87 per ounce. Platinum is down -3.96 at 782.7 while silver is down -0.17 at 15.48. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,048,740 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 596,519 put contracts. The single-session put/call was 0.57 while the 20-day moving average is now at 0.61.

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  • Last Price:
    $299.61
  • Previous Close:
    $297.90
  • Day's Range:
    $298.22 - $299.86
  • 52-week Range:
    $301.13 - $233.76
  • Last Price:
    $273.18
  • Previous Close:
    $271.65
  • Day's Range:
    $271.95 - $273.43
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $193.40
  • Previous Close:
    $192.53
  • Day's Range:
    $192.29 - $193.60
  • 52-week Range:
    $194.19 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Retail Sales Dec 08:30
PPI Jan 08:30
Initial Claims 02/09 08:30
Continuing Claims 02/02 08:30
Business Inventories Nov 10:00
EIA Natural Gas Inventories 02/09 10:30

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