Morning Update: Stocks rise after positive earnings reports

First Look

Stocks in the U.S. are higher Friday ahead of the open after another down day on Thursday. Earnings from Honeywell (HON) and Proctor & Gamble (PG) were better than expected, helping to sooth nervous traders. Economic data released overnight shows that country’s economic growth is slowing, which sparked a sell off in the stock market, but government officials pledged to support equities and things quickly reversed to close higher on the day. The Nasdaq is up 0.68%, the Dow Jones is up 0.46%, the S&P 500 is up 0.41%.

Today's market outlook is Neutral

A desk is a dangerous place from which to view the world.
John le Carre

Stocks on the Move

Paypal Holdings Inc (PYPL), Interpublic Group of Companies Inc (IPG) and Procter & Gamble Co (PG) are moving higher this morning, while eBay Inc (EBAY), American International Group Inc (AIG) and Valero Energy Corporation (VLO) are headed lower. DENTSPLY SIRONA Inc (XRAY), Roku Inc (ROKU) and Walt Disney Co (DIS) were upgraded by analysts this morning, while Travelers Companies Inc (TRV), NiSource Inc. (NI) and eBay Inc (EBAY) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 2.58%, the Hang Seng is up 0.42%, the Australia ASX All Ordinaries is down -0.12% the Nikkei 225 is down -0.56% and the Mumbai Sensex is down -1.09%. In Europe stocks are mixed. The FTSE 100 is up 0.43%, the Euro Stoxx 50 is down -0.03%, the DAX is down -0.08% and the CAC 40 is down -0.56%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.68 at 69.33 per barrel. Brent crude is up 0.94 at 80.23 per barrel. Natural Gas is down -0.02 at 3.18. Precious metals are up this morning. Gold is up 4.34 at 1230.15 per ounce. Platinum is up 8.59 at 836.39 while silver is up 0.1 at 14.71. 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, 924,537 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 679,274 put contracts. The single-session put/call was 0.73 while the 20-day moving average is now at 0.64.

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Today's Economic Calendar

What's Happening Period Release Time
Existing Home Sales Sep 10:00

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