Morning Update: Stocks Rise Ahead of Holiday

First Look

Major indices are higher in the pre-market Wednesday. The bond market continues to rally as the ten-year treasury yield dropped below 2%, falling to levels not seen since November 2016. The Nasdaq is up 0.24%, the S&P 500 is up 0.2%, the Dow Jones is up 0.17%.

Today's market outlook is Neutral

I don't like to be out of my comfort zone, which is about a half an inch wide.
Larry David

Stocks on the Move

Symantec Corporation (SYMC), Nordstrom, Inc. (JWN) and Skyworks Solutions Inc (SWKS) are moving higher this morning, while Broadcom Inc (AVGO), International Paper Co (IP) and Linde PLC (LIN) are headed lower. Gol Linhas Aereas Inteligentes SA (GOL), HENKEL AG & CO/S ADR (HENKY) and SOUTH32 LTD/S ADR (SOUHY) were upgraded by analysts this morning, while Royal Dutch Shell plc ADR Class A (RDS.A), and Ferguson PLC (FERGY) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.43%, the Mumbai Sensex is up 0.06%, the Hang Seng is down -0.26% the Nikkei 225 is down -0.53% and the Shanghai SE Composite Index is down -0.94%. In Europe stocks are up. The FTSE 100 is up 0.73%, the Euro Stoxx 50 is up 0.72%, the DAX is up 0.63% and the CAC 40 is up 0.58%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.47 at 56.72 per barrel. Brent crude is up 0.71 at 63.11 per barrel. Natural Gas is up 0.03 at 2.27. Precious metals are mixed this morning. Gold is down -1 at 1417.65 per ounce. Platinum is up 0.35 at 830.46 while silver is up 0.03 at 15.27. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 735,974 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 485,435 put contracts. The single-session put/call was 0.66 while the 20-day moving average is now at 0.62.

Earnings Expected Today

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  • 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
MBA Mortgage Applications Index 06/29 07:00
ADP Employment Change Jun 08:15
Trade Balance May 08:30
Initial Claims 06/29 08:30
Continuing Claims 06/22 08:30
ISM Non-Manufacturing Index Jun 10:00
Factory Orders May 10:00
EIA Crude Oil Inventories 06/29 10:30

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