Morning Update: Stocks Down in the Pre-Market

First Look

Stocks are pointed lower in the pre-market Monday. White House economic adviser Larry Kudlow said Sunday in an interview on CBS that the U.S. and China are getting “closer and closer” to reaching a trade deal, and that many top negotiators from both countries would be continuing trade negotiations via “a lot of teleconferencing”. Sentiment from China is also positive, with the Chinese media reporting that President Xi Jinping is calling for an early resolution to the ongoing trade talks following the progress made during Vice Premier Liu He’s visit to Washington last week. British Prime Minister Theresa May continues to search for a way forward, hoping to find a deal in which everyone can agree upon ahead of a Friday deadline, where the U.K. will either leave the EU or request a long extension. Crude extended gains as fighting in Libya escalated. The S&P 500 is down -0.09%, the S&P 500 is down -0.09%, the Dow Jones is down -0.26%.

Today's market outlook is Neutral

The journey of a thousand miles begins with one step.
Lao Tzu

Stocks on the Move

Perrigo Company PLC (PRGO), Wynn Resorts, Limited (WYNN) and Seagate Technology PLC (STX) are moving higher this morning, while General Electric Company (GE), Boeing Co (BA) and Micron Technology, Inc. (MU) are headed lower. Procter & Gamble Co (PG), Wynn Resorts, Limited (WYNN) and Snap Inc (SNAP) were upgraded by analysts this morning, while General Electric Company (GE), Southwest Airlines Co (LUV) and Harley-Davidson Inc (HOG) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.64%, the Hang Seng is up 0.47%, the Mumbai Sensex is up 0.46% the Shanghai SE Composite Index is down -0.05% and the Nikkei 225 is down -0.21%. In Europe stocks are mixed. The CAC 40 is up 0.07%, the FTSE 100 is up 0.03%, the Euro Stoxx 50 is down -0.15% and the DAX is down -0.26%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.25 at 63.33 per barrel. Brent crude is up 0.29 at 70.63 per barrel. Natural Gas is flat at 2.66. Precious metals are up this morning. Gold is up 6.58 at 1298.34 per ounce. Platinum is up 11.38 at 912.55 while silver is up 0.06 at 15.15. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,010,592 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 597,843 put contracts. The single-session put/call was 0.59 while the 20-day moving average is now at 0.6.

Earnings Expected Today

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  • Day's Range:
    $298.22 - $299.19
  • 52-week Range:
    $301.13 - $233.76
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  • Day's Range:
    $271.95 - $272.93
  • 52-week Range:
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  • Day's Range:
    $192.29 - $193.60
  • 52-week Range:
    $194.19 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Factory Orders Feb 10:00

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