Morning Update: Stocks rise before the bell

First Look

U.S. stocks are pointed toward a higher open Tuesday. Weaker-than-expected data on industrial production in Germany, and consumer confidence in the eurozone are apparently of no concern to traders in the U.S. or Europe this morning. Samsung, the world’s largest smart-phone maker, turned in a weaker-than-expected earnings report, but tech stocks are generally pointed higher this morning. That the morning’s trade seems to be going in the opposite direction of the news suggests that investors are more focused on U.S.-China trade talks, which are reportedly going well, or that stocks are low enough that they still represent bargains despite this morning’s new information. The Dow Jones is up 0.78%, the Nasdaq is up 0.75%, the S&P 500 is up 0.68%.

Today's market outlook is Neutral

David_Bowie
Tomorrow belongs to those who can hear it coming.
David Bowie

Stocks on the Move

Union Pacific Corporation (UNP), DISH Network Corp (DISH) and ABIOMED, Inc. (ABMD) are moving higher this morning, while Illumina, Inc. (ILMN), PG&E Corporation (PCG) and Ulta Beauty Inc (ULTA) are headed lower. Accenture Plc (ACN), Steel Dynamics, Inc. (STLD) and ONEOK, Inc. (OKE) were upgraded by analysts this morning, while Air Products & Chemicals, Inc. (APD), United States Steel Corporation (X) and Baidu Inc (BIDU) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 0.82%, the Australia ASX All Ordinaries is up 0.68%, the Mumbai Sensex is up 0.43% the Hang Seng is up 0.15% and the Shanghai SE Composite Index is down -0.26%. In Europe stocks are mixed. The FTSE 100 is up 1.49%, the DAX is up 0.75%, the Euro Stoxx 50 is up 0.38% and the CAC 40 is down -0.38%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.66 at 49.18 per barrel. Brent crude is up 0.78 at 58.11 per barrel. Natural Gas is up 0.06 at 3. Precious metals are down this morning. Gold is down -8.43 at 1280.78 per ounce. Platinum is down -1.95 at 819.73 while silver is down -0.14 at 15.62. 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, 1,014,161 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 604,667 put contracts. The single-session put/call was 0.60 while the 20-day moving average is now at 0.73.

Earnings Expected Today

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  • Last Price:
    $284.58
  • Previous Close:
    $281.55
  • Day's Range:
    $280.59 - $285.18
  • 52-week Range:
    $293.94 - $233.76
  • Last Price:
    $259.56
  • Previous Close:
    $257.29
  • Day's Range:
    $256.35 - $259.97
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
    $182.57
  • Previous Close:
    $179.76
  • Day's Range:
    $179.20 - $182.83
  • 52-week Range:
    $187.53 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
NFIB Small Business Optimism Dec 06:00
JOLTS - Job Openings Nov 10:00
Consumer Credit Nov 15:00

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