Morning Update: Stocks lower Friday morning

First Look

Stocks are pointed lower ahead of the bell Friday. Weak economic data from China and Europe wasn’t enough to overcome some mild optimism after China said it would temporarily lift some auto tariffs. The Nasdaq is down -0.79%, the S&P 500 is down -0.81%, the Dow Jones is down -1%.

Today's market outlook is Neutral

The highest of distinctions is service to others.
King George VI

Stocks on the Move

Sealed Air Corp (SEE), Invesco Ltd. (IVZ) and Express Scripts Holding Co (ESRX) are moving higher this morning, while Costco Wholesale Corporation (COST), Electronic Arts Inc. (EA) and Walgreens Boots Alliance Inc (WBA) are headed lower. Dollar Tree, Inc. (DLTR), Sealed Air Corp (SEE) and AGNC Investment Corp (AGNC) were upgraded by analysts this morning, while Atmos Energy Corporation (ATO), Walgreens Boots Alliance Inc (WBA) and Cisco Systems, Inc. (CSCO) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.42%, the Australia ASX All Ordinaries is down -0.99%, the Shanghai SE Composite Index is down -1.53% the Hang Seng is down -1.62% and the Nikkei 225 is down -2.02%. Stocks in Europe are down. The CAC 40 is down -0.99%, the Euro Stoxx 50 is down -0.72%, the FTSE 100 is down -0.61% and the DAX is down -0.56%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.03 at 52.55 per barrel. Brent crude is down -0.02 at 64.43 per barrel. Natural Gas is down -0.17 at 3.95. Precious metals are down this morning. Gold is down -7.07 at 1234.92 per ounce. Platinum is down -11.52 at 784.98 while silver is down -0.25 at 14.6. 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, 668,389 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 499,556 put contracts. The single-session put/call was 0.75 while the 20-day moving average is now at 0.7.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
Retail Sales Nov 08:30
Industrial Production Nov 09:15
Capacity Utilization Nov 09:15
Business Inventories Oct 10:00

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