Morning Update: Stocks dip, oil slips

First Look

Stocks are trading in the red ahead of the open Thursday morning. A flash crash in Hong Kong briefly had some stocks down by as much as 75%, but most of that was quickly recovered. Oil is also sliding today as U.S. production seems to be making up for an OPEC production cut. Morgan Stanley (MS) reported a sharp drop in bond-trading revenue, and the stock is down despite beating earnings expectations. The Nasdaq is down -0.25%, the S&P 500 is down -0.33%, the Dow Jones is down -0.34%.

Today's market outlook is Neutral

Choose people who lift you up.
Michelle Obama

Stocks on the Move

PG&E Corporation (PCG), M&T Bank Corporation (MTB) and CBS Corporation Common Stock (CBS) are moving higher this morning, while Fifth Third Bancorp (FITB), Morgan Stanley (MS) and PulteGroup, Inc. (PHM) are headed lower. NXP Semiconductors NV (NXPI), Xilinx, Inc. (XLNX) and Aramark (ARMK) were upgraded by analysts this morning, while Hecla Mining Company (HL), Solaredge Technologies Inc (SEDG) and Chipotle Mexican Grill, Inc. (CMG) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.27%, the Mumbai Sensex is up 0.01%, the Nikkei 225 is down -0.2% the Shanghai SE Composite Index is down -0.42% and the Hang Seng is down -0.65%. Stocks in Europe are down. The FTSE 100 is down -0.67%, the CAC 40 is down -0.42%, the Euro Stoxx 50 is down -0.27% and the DAX is down -0.17%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -1.01 at 51.3 per barrel. Brent crude is down -0.95 at 60.37 per barrel. Natural Gas is up 0.17 at 3.55. Precious metals are down this morning. Gold is down -2.85 at 1290.82 per ounce. Platinum is down -3.75 at 803.09 while silver is down -0.11 at 15.53. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 985,591 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 591,959 put contracts. The single-session put/call was 0.60 while the 20-day moving average is now at 0.7.

Already a member?

Login to see your daily Morning Action trade idea.

Morning Action Trades

Receive a Morning Action trade idea every market day right here in the Morning Update. Also get our Stocks to Watch newsletter every Saturday with trade ideas.

Become A Member

  • Last Price:
  • Previous Close:
  • Day's Range:
    $290.35 - $292.31
  • 52-week Range:
    $296.31 - $233.76
  • Last Price:
  • Previous Close:
  • Day's Range:
    $265.21 - $266.49
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
  • Previous Close:
  • Day's Range:
    $185.49 - $187.33
  • 52-week Range:
    $191.32 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Initial Claims 01/12 08:30
Continuing Claims 01/05 08:30
Philadelphia Fed Index Jan 08:30
EIA Natural Gas Inventories 01/12 10:30

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available at Privacy policy available upon request.