Morning Update: Stocks fall and yield climb continues

First Look

The bond market is open this morning after taking yesterday off for a holiday. The upward march in yields resumed, with the 10-year Treasury hitting a seven-year high. That action is pushing stocks lower, as it did in the second half of last week. Potentially adding to the lack of bids, the Treasury is scheduled to auction $230 billion in securities this week, including about $73 billion in new 10 years. The Dow Jones is down -0.54%, the S&P 500 is down -0.56%, the Nasdaq is down -0.62%.

Today's market outlook is Neutral

John Lennon
Life is what happens while you are busy making other plans.
John Lennon

Stocks on the Move

Devon Energy Corp (DVN), Newmont Mining Corp (NEM) and American Airlines Group Inc (AAL) are moving higher this morning, while PPG Industries, Inc. (PPG), Sherwin-Williams Co (SHW) and Mylan NV (MYL) are headed lower. SCANA Corporation (SCG), News Corp Class A (NWSA) and Cree, Inc. (CREE) were upgraded by analysts this morning, while Aaron's, Inc. (AAN), Mylan NV (MYL) and ManpowerGroup Inc. (MAN) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.14%, the Hang Seng is down -0.05%, the Mumbai Sensex is down -0.51% the Australia ASX All Ordinaries is down -1.01% and the Nikkei 225 is down -1.32%. Stocks in Europe are down. The DAX is down -0.83%, the Euro Stoxx 50 is down -0.7%, the FTSE 100 is down -0.66% and the CAC 40 is down -0.6%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.48 at 74.77 per barrel. Brent crude is up 0.65 at 84.56 per barrel. Natural Gas is up 0.07 at 3.34. Precious metals are mixed this morning. Gold is down -1.13 at 1186.95 per ounce. Platinum is down -7.03 at 812.5 while silver is up 0.01 at 14.34. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 879,048 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 578,116 put contracts. The single-session put/call was 0.66 while the 20-day moving average is now at 0.6.

Earnings Expected Today

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  • Last Price:
    $276.01
  • Previous Close:
    $272.17
  • Day's Range:
    $272.37 - $277.09
  • 52-week Range:
    $293.94 - $252.92
  • Last Price:
    $253.30
  • Previous Close:
    $250.27
  • Day's Range:
    $249.93 - $254.61
  • 52-week Range:
    $269.28 - $228.15
  • Last Price:
    $174.32
  • Previous Close:
    $169.60
  • Day's Range:
    $170.93 - $174.86
  • 52-week Range:
    $187.53 - $146.33

Today's Economic Calendar

What's Happening Period Release Time
NFIB Small Business Optimism Index Sep 06:00

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