Morning Update: Stocks, oil sink; Dollar rises

First Look

Stocks in the U.S. are pointed lower ahead of the open Friday. A stronger dollar, fears about slowing growth in China and a continued slide in the price of crude oil are all contributing to the weakness. The Walt Disney Co. (DIS) is among the bright spots this morning after the company reported better-than-expected earnings after the bell yesterday. The Dow Jones is down -0.45%, the S&P 500 is down -0.47%, the Nasdaq is down -0.78%.

Today's market outlook is Neutral

Science is a way of thinking much more than it is a body of knowledge.
Carl Sagan

Stocks on the Move

Boston Scientific Corporation (BSX), Regions Financial Corp (RF) and Walt Disney Co (DIS) are moving higher this morning, while Activision Blizzard, Inc. (ATVI), Skyworks Solutions Inc (SWKS) and Centurylink Inc (CTL) are headed lower. Cloudera Inc (CLDR), Owens-Illinois Inc (OI) and Cree, Inc. (CREE) were upgraded by analysts this morning, while Skyworks Solutions Inc (SWKS), Yelp Inc (YELP) and MasTec, Inc. (MTZ) were downgraded.

International Markets

Stocks in Asia are down. The Hang Seng is down -2.39%, the Shanghai SE Composite Index is down -1.39%, the Nikkei 225 is down -1.05% the Mumbai Sensex is down -0.22% and the Australia ASX All Ordinaries is down -0.08%.Stocks in Europe are down. The FTSE 100 is down -0.86%, the CAC 40 is down -0.85%, the Euro Stoxx 50 is down -0.71% and the DAX is down -0.52%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.86 at 59.81 per barrel. Brent crude is down -0.88 at 69.77 per barrel. Natural Gas is up 0.11 at 3.65. Precious metals are down this morning. Gold is down -9.11 at 1214.89 per ounce. Platinum is down -4.29 at 859.88 while silver is down -0.14 at 14.29. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 936,771 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 596,764 put contracts. The single-session put/call was 0.64 while the 20-day moving average is now at 0.66.

Earnings Expected Today

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  • Last Price:
    $273.68
  • Previous Close:
    $273.02
  • Day's Range:
    $271.21 - $274.75
  • 52-week Range:
    $293.94 - $252.92
  • Last Price:
    $254.11
  • Previous Close:
    $252.61
  • Day's Range:
    $251.34 - $254.96
  • 52-week Range:
    $269.28 - $233.20
  • Last Price:
    $167.50
  • Previous Close:
    $168.09
  • Day's Range:
    $165.78 - $168.31
  • 52-week Range:
    $187.53 - $150.13

Today's Economic Calendar

What's Happening Period Release Time
PPI Oct 08:30
Univ. of Michigan Consumer Sentiment - Prelim Nov 10:00
Wholesale Inventories Sep 10:00

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