Morning Update: Stocks rise on trade, data

First Look

Stocks in the U.S. are pointed higher Thursday morning. Optimism about trade and better-than expected economic data have traders in a buying mood. Consumer inflation, as measured by the Consumer Price Index, came in lower than expected this morning, following a similar report from the Producer Price Index yesterday. New unemployment claims continue to be historically low as well. There are no new concrete developments on the trade front, but report are that talks are progressing with the European Union, and could restart soon with China. The Nasdaq is up 0.39%, the Dow Jones is up 0.3%, the S&P 500 is up 0.23%.

Today's market outlook is Neutral

amy winehouse
Every bad situation is a blues song waiting to happen.
Amy Winehouse

Stocks on the Move

Davita Inc (DVA), Capital One Financial Corp. (COF) and IDEXX Laboratories, Inc. (IDXX) are moving higher this morning, while Kroger Co (KR), Automatic Data Processing (ADP) and Hologic, Inc. (HOLX) are headed lower. Flowserve Corp (FLS), Thomson Reuters Corp (TRI) and Snap Inc (SNAP) were upgraded by analysts this morning, while Wayfair Inc (W), SunTrust Banks, Inc. (STI) and Ciena Corporation (CIEN) were downgraded.

International Markets

Stocks in Asia are mixed. The Hang Seng is up 2.54%, the Shanghai SE Composite Index is up 1.15%, the Nikkei 225 is up 0.96% the Mumbai Sensex is up 0.81% and the Australia ASX All Ordinaries is down -0.7%. In Europe stocks are mixed. The Euro Stoxx 50 is up 0.63%, the DAX is up 0.52%, the CAC 40 is up 0.44% and the FTSE 100 is down -0.21%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.83 at 69.54 per barrel. Brent crude is down -0.62 at 79.12 per barrel. Natural Gas is up 0.02 at 2.85. Precious metals are mixed this morning. Gold is up 3.65 at 1209.89 per ounce. Platinum is up 10.94 at 810.74 while silver is down -0.03 at 14.27. 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, 1,132,988 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 625,266 put contracts. The single-session put/call was 0.55 while the 20-day moving average is now at 0.61.

Earnings Expected Today

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  • Last Price:
    $273.01
  • Previous Close:
    $270.20
  • Day's Range:
    $267.01 - $273.54
  • 52-week Range:
    $293.94 - $252.92
  • Last Price:
    $253.31
  • Previous Close:
    $250.91
  • Day's Range:
    $248.35 - $254.00
  • 52-week Range:
    $269.28 - $232.65
  • Last Price:
    $168.09
  • Previous Close:
    $165.20
  • Day's Range:
    $163.46 - $168.54
  • 52-week Range:
    $187.53 - $150.13

Today's Economic Calendar

What's Happening Period Release Time
CPI Aug 08:30
Initial Claims 09/08 08:30
Continuing Claims 09/01 08:30
Natural Gas Inventories 09/08 10:30
Treasury Budget Aug 14:00

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