Morning Update: Stocks Point Higher Before the Open

First Look

Stocks are slightly higher before the bell Friday. In addition to agreeing to restart trade negotiations at the G-20 summit, President Trump claimed that during his meeting with Chinese President Jinping Xi, China had also agreed to increase purchases of American agricultural products. This claim was not documented by either side of the negotiation, with China never publicly confirming the pledge was part of any agreement. President Trump is now criticizing the country for not increasing purchases of U.S. farm products. U.S. Department of Agriculture data released Thursday shows that China has decreased purchases of U.S. agricultural products since the G-20 summing on June 29. The Dow Jones is up 0.31%, the S&P 500 is up 0.21%, the S&P 500 is up 0.21%.

Today's market outlook is Neutral

The pursuit, even of the best things, ought to be calm and tranquil.
Marcus Tullius Cicero

Stocks on the Move

FedEx Corporation (FDX), Altria Group Inc (MO) and Morgan Stanley (MS) are moving higher this morning, while Illumina, Inc. (ILMN), Thermo Fisher Scientific Inc. (TMO) and Colgate-Palmolive Company (CL) are headed lower. Snap Inc (SNAP), Stitch Fix Inc (SFIX) and Morgan Stanley (MS) were upgraded by analysts this morning, while Illumina, Inc. (ILMN), Charles Schwab Corporation Common Stock (SCHW) and Wells Fargo & Co (WFC) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.44%, the Nikkei 225 is up 0.2%, the Hang Seng is up 0.14% the Mumbai Sensex is down -0.22% and the Australia ASX All Ordinaries is down -0.25%. In Europe stocks are up. The CAC 40 is up 0.44%, the FTSE 100 is up 0.16%, the Euro Stoxx 50 is up 0.09% and the DAX is up 0.01%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.06 at 60.62 per barrel. Brent crude is up 0.21 at 66.73 per barrel. Natural Gas is up 0.01 at 2.43. Precious metals are mixed this morning. Gold is up 3.99 at 1407.8 per ounce. Platinum is down -3.75 at 820.15 while silver is up 0.01 at 15.16. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 957,745 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 587,753 put contracts. The single-session put/call was 0.61 while the 20-day moving average is now at 0.61.

Earnings Expected Today

Already a member?

Login to see your daily Morning Action trade idea.

Morning Action Trades

Receive a Morning Action trade idea every market day right here in the Morning Update. Also get our Stocks to Watch newsletter every Saturday with trade ideas.

Become A Member

  • 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

What's Happening Period Release Time
PPI Jun 08:30

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available at http://www.cboe.com/Resources/Intro.aspx. Privacy policy available upon request.