Morning Update: Stocks rise as Turkey fears fade

First Look

Stocks in the United States are rising ahead of the opening bell Tuesday. Yesterday’s worries about the Turkish economy have stabilized a bit, with the lira making a bit of a bounce. Home Depot (HD) is up more than 2% after reporting earnings this morning. The Nasdaq is up 0.36%, the S&P 500 is up 0.3%, the Dow Jones is up 0.29%.

Today's market outlook is Neutral

We must accept finite disappointment, but never lose infinite hope.
Martin Luther King Jr.

Stocks on the Move

Advance Auto Parts, Inc. (AAP), Tapestry Inc (TPR) and Synchrony Financial (SYF) are moving higher this morning, while Chubb Ltd (CB), Fiserv Inc (FISV) and Cognizant Technology Solutions Corp (CTSH) are headed lower. Noble Corporation PLC (NE), JinkoSolar Holding Co., Ltd. (JKS) and Nielsen Holdings PLC (NLSN) were upgraded by analysts this morning, while Wynn Resorts, Limited (WYNN), Parker-Hannifin Corp (PH) and Paychex, Inc. (PAYX) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 2.28%, the Australia ASX All Ordinaries is up 0.71%, the Mumbai Sensex is up 0.55% the Shanghai SE Composite Index is down -0.18% and the Hang Seng is down -0.7%. In Europe stocks are mixed. The Euro Stoxx 50 is up 0.24%, the DAX is up 0.14%, the CAC 40 is up 0.09% and the FTSE 100 is down -0.18%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.82 at 68.02 per barrel. Brent crude is up 0.88 at 73.49 per barrel. Natural Gas is up 0.02 at 2.95. Precious metals are up this morning. Gold is up 2.51 at 1196.01 per ounce. Platinum is up 2.26 at 805.56 while silver is up 0.06 at 15.05. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 865,026 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 554,120 put contracts. The single-session put/call was 0.64 while the 20-day moving average is now at 0.63.

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    $288.66 - $290.32
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    $264.36 - $265.93
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Today's Economic Calendar

What's Happening Period Release Time
NFIB Small Business Optimism Index Jul 06:00
Import Prices Jul 08:30
Export Prices Jul 08:30

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