Morning Update: Stocks fall around the world

First Look

U.S. stocks are again lower ahead of the open Thursday. International markets spent their sessions playing catch up after a trading session in the U.S. that saw major indices lose more than 3%. Earnings season has yet to really get underway, but the reports so far have not been good. Margin compression, rising costs and limited pricing power, have been a major buzzword. Construction and engineering giant Fluor (FLR) is down big this morning, citing those same pressures. The Consumer Price Index for September rose 0.1%, missing estimates for an increase of 0.2%. The S&P 500 is down -0.46%, the Nasdaq is down -0.53%, the Dow Jones is down -0.57%.

Today's market outlook is Neutral

Eleanor Roosevelt
You must do the things you think you cannot do.
Eleanor Roosevelt

Stocks on the Move

L Brands Inc (LB), Delta Air Lines, Inc. (DAL) and Newmont Mining Corp (NEM) are moving higher this morning, while Fluor Corporation (NEW) (FLR), Advanced Micro Devices, Inc. (AMD) and Thermo Fisher Scientific Inc. (TMO) are headed lower. Sempra Energy (SRE), Lumentum Holdings Inc (LITE) and Lear Corporation (LEA) were upgraded by analysts this morning, while Huntington Ingalls Industries Inc (HII), Edison International (EIX) and Delphi Technologies PLC (DLPH) were downgraded.

International Markets

Stocks in Asia are down. The Shanghai SE Composite Index is down -5.22%, the Nikkei 225 is down -3.89%, the Hang Seng is down -3.6% the Australia ASX All Ordinaries is down -2.76% and the Mumbai Sensex is down -2.19%.Stocks in Europe are down. The FTSE 100 is down -1.58%, the CAC 40 is down -1.45%, the Euro Stoxx 50 is down -1.17% and the DAX is down -0.89%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -1.03 at 72.14 per barrel. Brent crude is down -1.29 at 81.8 per barrel. Natural Gas is down -0.04 at 3.25. Precious metals are up this morning. Gold is up 8.89 at 1203.68 per ounce. Platinum is up 1.79 at 825.14 while silver is up 0.09 at 14.42. 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, 1,131,971 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 838,732 put contracts. The single-session put/call was 0.74 while the 20-day moving average is now at 0.61.

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
CPI Sep 08:30
Initial Claims 10/06 08:30
Continuing Claims 9/26 08:30
EIA Natural Gas Inventories 10/06 10:30
EIA Crude Inventories 10/06 11:00
Treasury Budget Sep 14:00

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