Morning Update: Stocks down, Yields up… again

First Look

Stocks in the U.S. are headed lower ahead of Wednesday’s open as Treasury yields resumed their upward march as the Treasury prepares to sell more bonds today. The Dow Jones is down -0.1%, the S&P 500 is down -0.19%, the Nasdaq is down -0.42%.

Today's market outlook is Neutral

william_shakespeare
It is not in the stars to hold our destiny but in ourselves.
William Shakespeare

Stocks on the Move

Viacom, Inc. Class B (VIAB), Discovery Inc Series C (DISCK) and PPG Industries, Inc. (PPG) are moving higher this morning, while Fastenal Company (FAST), W W Grainger Inc (GWW) and Applied Materials, Inc. (AMAT) are headed lower. Mosaic Co (MOS), Myriad Genetics, Inc. (MYGN) and Mcdonald’s Corp (MCD) were upgraded by analysts this morning, while Trevena Inc (TRVN), Sherwin-Williams Co (SHW) and International Paper Co (IP) were downgraded.

International Markets

Stocks in Asia are up. The Mumbai Sensex is up 1.35%, the Shanghai SE Composite Index is up 0.18%, the Nikkei 225 is up 0.16% the Australia ASX All Ordinaries is up 0.13% and the Hang Seng is up 0.08%. Stocks in Europe are down. The CAC 40 is down -0.87%, the DAX is down -0.81%, the Euro Stoxx 50 is down -0.56% and the FTSE 100 is down -0.17%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.16 at 74.8 per barrel. Brent crude is down -0.19 at 84.81 per barrel. Natural Gas is up 0.07 at 3.34. Precious metals are down this morning. Gold is down -3.45 at 1186.32 per ounce. Platinum is down -3.76 at 821.53 while silver is down -0.03 at 14.37. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 906,730 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 558,308 put contracts. The single-session put/call was 0.62 while the 20-day moving average is now at 0.6.

Earnings Expected Today

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  • Last Price:
    $263.66
  • Previous Close:
    $269.84
  • Day's Range:
    $262.63 - $271.22
  • 52-week Range:
    $293.94 - $252.92
  • Last Price:
    $244.32
  • Previous Close:
    $249.72
  • Day's Range:
    $243.29 - $251.41
  • 52-week Range:
    $269.28 - $233.20
  • Last Price:
    $161.38
  • Previous Close:
    $166.89
  • Day's Range:
    $160.86 - $167.12
  • 52-week Range:
    $187.53 - $150.13

Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 10/06 07:00
PPI Sep 08:30
Wholesale Inventories Aug 10:00

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