Markets are up ahead of the bell Thursday. As trade tensions escalate, President Trump signed an executive order to block Chinese telecommunications firms Huawei and ZTE from doing business with American companies. After declaring a national emergency, the order will prevent the companies from selling their equipment to U.S. markets and restrict their ability to purchase essential components from American suppliers. The president also delayed tariffs on auto imports from the European Union and Japan. The EU and Japan will have 180 days to agree to terms that would limit or restrict automobiles and parts coming into the country. The S&P 500 is up 0.3%, the Dow Jones is up 0.26%, the Nasdaq is up 0.23%.
Today's market outlook is Neutral
Honor thy error as a hidden intention.
Stocks on the Move
Cisco Systems, Inc. (CSCO), Linde PLC (LIN) and Walmart Inc (WMT) are moving higher this morning, while Nektar Therapeutics (NKTR), Skyworks Solutions Inc (SWKS) and Micron Technology, Inc. (MU) are headed lower. Macy’s Inc (M), Mohawk Industries, Inc. (MHK) and Appian Corp (APPN) were upgraded by analysts this morning, while Occidental Petroleum Corporation (OXY), Crawford & Company Class B (CRD.B) and Duke Realty Corp (DRE) were downgraded.
Stocks in Asia are mixed. The Mumbai Sensex is up 0.75%, the Australia ASX All Ordinaries is up 0.73%, the Shanghai SE Composite Index is up 0.58% the Hang Seng is up 0.12% and the Nikkei 225 is down -0.59%. In Europe stocks are up. The DAX is up 0.66%, the Euro Stoxx 50 is up 0.43%, the CAC 40 is up 0.29% and the FTSE 100 is up 0.24%.
Futures and Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.8 at 62.82 per barrel. Brent crude is up 0.86 at 72.63 per barrel. Natural Gas is flat at 2.61. Precious metals are down this morning. Gold is down -2.42 at 1294.07 per ounce. Platinum is down -1.04 at 846.31 while silver is down -0.01 at 14.8. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and up against the Pound.
Yesterday, 889,012 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 681,752 put contracts. The single-session put/call was 0.77 while the 20-day moving average is now at 0.65.
Day's Range:$296.96 - $300.07
52-week Range:$301.13 - $233.76
Day's Range:$271.36 - $273.34
52-week Range:$273.99 - $216.97
Day's Range:$190.81 - $193.83
52-week Range:$194.19 - $143.46
Today's Economic Calendar
|What's Happening||Period||Release Time|
|Philadelphia Fed Index||May||08:30|
|EIA Natural Gas Inventories||05/11||10:30|