Morning Update: Stocks Point Higher Friday Morning

First Look

Major indices are up Friday morning as U.S. banks are set to kick off the first-quarter earnings season. JPMorgan Chase & Co. and Wells Fargo & Co. are scheduled to report before the bell. China reported exports rose to $20.5 billion in March, which raises optimism about the health of the overall global economy. Bilateral trade talks are scheduled to begin next week in Washington between the U.S. and Japan. President Trump will be meeting with Japan’s Prime Minister Shinzo Abe. Trump wants to reduce a $60 billion trade deficit with Japan and address issues such as Japan’s auto exports and agricultural market. The Dow Jones is up 0.7%, the S&P 500 is up 0.51%, the Nasdaq is up 0.4%.

Today's market outlook is Neutral

Lyndon B. Johnson
Yesterday is not ours to recover, but tomorrow is ours to win or lose.
Lyndon B. Johnson

Stocks on the Move

Anadarko Petroleum Corporation (APC), Apache Corporation (APA) and Devon Energy Corp (DVN) are moving higher this morning, while Chevron Corporation (CVX), Mosaic Co (MOS) and Netflix, Inc. (NFLX) are headed lower. Waddell & Reed Financial, Inc. (WDR), and Murphy Oil Corporation (MUR) were upgraded by analysts this morning, while Whiting Petroleum Corp (WLL), W W Grainger Inc (GWW) and Chesapeake Energy Corporation (CHK) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.84%, the Nikkei 225 is up 0.73%, the Mumbai Sensex is up 0.41% the Shanghai SE Composite Index is down -0.04% and the Hang Seng is down -0.07%. In Europe stocks are up. The DAX is up 0.62%, the Euro Stoxx 50 is up 0.4%, the CAC 40 is up 0.37% and the FTSE 100 is up 0.25%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.87 at 64.45 per barrel. Brent crude is up 0.78 at 71.61 per barrel. Natural Gas is up 0.01 at 2.638. Precious metals are mixed this morning. Gold is up 0.12 at 1292.63 per ounce. Platinum is up 7.66 at 900.87 while silver is down -0.19 at 15. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 806,635 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 536,535 put contracts. The single-session put/call was 0.61 while the 20-day moving average is now at 0.61.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
Import Prices Mar 08:30
Export Prices Mar 08:30
Univ. of Michigan Consumer Sentiment - Prelim Apr 08:30

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