Morning Update: Stocks Flat as Tension with Iran Simmers

First Look

Stocks are relatively unmoved in the pre-market Monday. The U.S. is set to impose additional sanctions against Iran following the cancellation of targeted airstrikes against the country. President Trump also approved cyber-attacks against Iranian missile systems late last week. Trump repeated that he is ready to hold talks with Iran but said that military action is “always on the table”. Trump’s proposed talks with the country have no preconditions, with the president looking to prevent Iran from gaining nuclear weapons. The Nasdaq is up 0.29%, the Dow Jones is up 0.22%, the S&P 500 is up 0.2%.

Today's market outlook is Neutral

Evil is the product of the ability of humans to make abstract that which is concrete.
Jean-Paul Sartre

Stocks on the Move

Wynn Resorts, Limited (WYNN), Newmont Goldcorp Corp (NEM) and MGM Resorts International (MGM) are moving higher this morning, while Bristol-Myers Squibb Co (BMY), Celgene Corporation (CELG) and Carnival Corp (CCL) are headed lower. 3D Systems Corporation (DDD), Rent-A-Center Inc (RCII) and Dunkin Brands Group Inc (DNKN) were upgraded by analysts this morning, while CarMax, Inc (KMX), Spotify Technology SA (SPOT) and Occidental Petroleum Corporation (OXY) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.21%, the Australia ASX All Ordinaries is up 0.17%, the Hang Seng is up 0.14% the Nikkei 225 is up 0.13% and the Mumbai Sensex is down -0.18%. Stocks in Europe are down. The DAX is down -0.53%, the Euro Stoxx 50 is down -0.31%, the CAC 40 is down -0.14% and the FTSE 100 is down -0.05%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.37 at 57.79 per barrel. Brent crude is up 0.01 at 65.21 per barrel. Natural Gas is up 0.03 at 2.22. Precious metals are up this morning. Gold is up 8.49 at 1408.12 per ounce. Platinum is up 5.33 at 815.21 while silver is up 0.08 at 15.45. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, flat against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,208,726 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 645,304 put contracts. The single-session put/call was 0.53 while the 20-day moving average is now at 0.64.

Earnings Expected Today

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  • Last Price:
    $297.78
  • Previous Close:
    $299.71
  • Day's Range:
    $297.74 - $299.93
  • 52-week Range:
    $301.13 - $233.76
  • Last Price:
    $272.25
  • Previous Close:
    $273.42
  • Day's Range:
    $272.18 - $273.45
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $192.20
  • Previous Close:
    $193.15
  • Day's Range:
    $192.18 - $193.49
  • 52-week Range:
    $194.19 - $143.46

Today's Economic Calendar

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