Morning Update: Stocks Point Higher as Earning Season Begins

First Look

Markets are slightly higher before the open Monday morning. Banks are scheduled to kickoff earnings season this week. Citigroup (C) is up 1.4% in the pre-market today after reporting second-quarter earnings. Goldman Sachs (GS), JPMorgan (JPM), and Wells Fargo (WFC) will report earnings Tuesday, with Bank of America (BAC) and Morgan Stanley (MS) on-deck Wednesday and Thursday. IBM (IBM), Microsoft (MSFT), and Netflix (NFLX) are also scheduled to report later this week. China’s economy continues to show signs of weakness. That country’s second-quarter GDP increased 6.2%, down from 6.4% in the first quarter. However, Chinese factory output and commodity production beat June estimates, as did retail sales growth figures. The Nasdaq is up 0.2%, the S&P 500 is up 0.19%, the S&P 500 is up 0.19%.

Today's market outlook is Neutral

The modernity of yesterday is the tradition of today, and the modernity of today will be tradition tomorrow.
Jose Andres

Stocks on the Move

Symantec Corporation (SYMC), Deere & Company (DE) and Freeport-McMoRan Inc (FCX) are moving higher this morning, while International Paper Co (IP), Westrock Co (WRK) and L Brands Inc (LB) are headed lower. Gilead Sciences, Inc. (GILD), Deere & Company (DE) and Brinker International, Inc. (EAT) were upgraded by analysts this morning, while Tiffany & Co. (TIF), Spirit AeroSystems Holdings, Inc. (SPR) and Marriott International Inc (MAR) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.41%, the Shanghai SE Composite Index is up 0.4%, the Hang Seng is up 0.29% the Nikkei 225 is up 0.2% and the Australia ASX All Ordinaries is down -0.63%. In Europe stocks are up. The DAX is up 0.43%, the FTSE 100 is up 0.32%, the Euro Stoxx 50 is up 0.12% and the CAC 40 is up 0.09%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.21 at 60.42 per barrel. Brent crude is up 0.3 at 67.02 per barrel. Natural Gas is down -0.04 at 2.41. Precious metals are mixed this morning. Gold is down -2.32 at 1413.43 per ounce. Platinum is up 9.46 at 840.48 while silver is up 0.09 at 15.33. 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, 1,082,878 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 593,296 put contracts. The single-session put/call was 0.55 while the 20-day moving average is now at 0.6.

Earnings Expected Today

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  • Last Price:
    $288.81
  • Previous Close:
    $284.65
  • Day's Range:
    $284.71 - $289.33
  • 52-week Range:
    $302.23 - $233.76
  • Last Price:
    $258.82
  • Previous Close:
    $255.69
  • Day's Range:
    $256.87 - $259.25
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $185.48
  • Previous Close:
    $182.55
  • Day's Range:
    $184.10 - $185.95
  • 52-week Range:
    $195.55 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Empire State Manufacturing Jul 08:30

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