Major indices are down in the pre-market Friday. The Chinese government said it would initiate additional stimulus plans aimed to boost the country’s economy to counter new tariffs from the U.S. China’s state-run media indicated that there is little interest in resuming trade negotiations with the U.S. ahead of the G-20 summit in Japan next month after the Trump Administration deemed Chinese companies Huawei and ZTE a threat to national security, preventing them from selling to U.S. markets or buying American components. Chinese leaders said the country will protect its corporate interests and take appropriate measures if additional tariffs are applied to Chinese goods. British Prime Minister Theresa May agreed to set a timeline for her departure as leader. Under the terms, she will have one more opportunity to get her Brexit deal passed. When Parliament votes for a fourth time on May’s deal, regardless of the outcome, May will step down as leader. The S&P 500 is down -0.71%, the S&P 500 is down -0.71%, the Nasdaq is down -0.88%.
Today's market outlook is Neutral
The ship of democracy, which has weathered all storms, may sink through the mutiny of those on board.
Stocks on the Move
Applied Materials, Inc. (AMAT), Under Armour Inc Class A (UAA) and AES Corp (AES) are moving higher this morning, while Deere & Company (DE), FedEx Corporation (FDX) and QUALCOMM, Inc. (QCOM) are headed lower. Applied Materials, Inc. (AMAT), Under Armour Inc Class A (UAA) and Walmart Inc (WMT) were upgraded by analysts this morning, while Wolverine World Wide, Inc. (WWW), NeoPhotonics Corp (NPTN) and Camping World Holdings Inc (CWH) were downgraded.
Stocks in Asia are mixed. The Mumbai Sensex is up 1.44%, the Nikkei 225 is up 0.89%, the Australia ASX All Ordinaries is up 0.67% the Hang Seng is down -1.16% and the Shanghai SE Composite Index is down -2.48%. Stocks in Europe are down. The DAX is down -1.17%, the Euro Stoxx 50 is down -0.94%, the CAC 40 is down -0.74% and the FTSE 100 is down -0.54%.
Futures and Currencies
Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.46 at 63.33 per barrel. Brent crude is up 0.22 at 72.48 per barrel. Natural Gas is up 0.01 at 2.65. Precious metals are down this morning. Gold is down -0.29 at 1286.43 per ounce. Platinum is down -9.64 at 824.68 while silver is down -0.05 at 14.49. 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.
Yesterday, 1,114,336 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 730,249 put contracts. The single-session put/call was 0.66 while the 20-day moving average is now at 0.65.
Day's Range:$292.04 - $292.70
52-week Range:$294.95 - $233.76
Day's Range:$265.33 - $265.94
52-week Range:$269.28 - $216.97
Day's Range:$185.75 - $186.85
52-week Range:$191.32 - $143.46
Today's Economic Calendar
|What's Happening||Period||Release Time|
|Univ. of Michigan Consumer Sentiment - Prelim.||May||10:00|