Morning Update: Stocks rise Wednesday morning

First Look

Stocks are higher ahead of the open Wednesday. Bank of America (BAC) and Goldman Sachs (GS) both topped earnings expectations, although those estimates had been lowered in recent weeks. Brexit and the government shutdown in the U.S. remain hot topics, although there doesn’t seem to be much in the way of progress toward resolving either impasse. The Dow Jones is up 0.32%, the S&P 500 is up 0.22%, the Nasdaq is up 0.12%.

Today's market outlook is Neutral

Nothing great in the world has ever been accomplished without passion.
Georg Wilhelm Friedrich Hegel

Stocks on the Move

United Continental Holdings Inc (UAL), Fifth Third Bancorp (FITB) and Bank of America Corp (BAC) are moving higher this morning, while PG&E Corporation (PCG), Nordstrom, Inc. (JWN) and NetApp Inc. (NTAP) are headed lower. ING Groep NV ADR (ING), Teradata Corporation (TDC) and Metlife Inc (MET) were upgraded by analysts this morning, while Caesars Entertainment Corporation Common Stock (CZR), SYSCO Corporation (SYY) and Snap Inc (SNAP) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 1.3%, the Australia ASX All Ordinaries is up 0.37%, the Hang Seng is up 0.13% the Shanghai SE Composite Index is flat 0% and the Nikkei 225 is down -0.55%. In Europe stocks are mixed. The CAC 40 is up 0.18%, the Euro Stoxx 50 is flat 0%, the DAX is down -0.01% and the FTSE 100 is down -0.57%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.53 at 51.55 per barrel. Brent crude is down -0.39 at 60.25 per barrel. Natural Gas is up 0.05 at 3.55. Precious metals are mixed this morning. Gold is up 0.83 at 1290.34 per ounce. Platinum is up 0.11 at 799.7 while silver is down -0.06 at 15.56. 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, 932,512 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 655,126 put contracts. The single-session put/call was 0.70 while the 20-day moving average is now at 0.72.

Earnings Expected Today

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  • Last Price:
    $279.16
  • Previous Close:
    $277.42
  • Day's Range:
    $277.40 - $279.36
  • 52-week Range:
    $293.94 - $233.76
  • Last Price:
    $260.17
  • Previous Close:
    $258.53
  • Day's Range:
    $259.01 - $260.41
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
    $172.89
  • Previous Close:
    $171.62
  • Day's Range:
    $171.90 - $173.01
  • 52-week Range:
    $187.53 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 01/12 07:00
Import Prices Dec 08:30
Export Prices Dec 08:30
NAHB Housing Market Index Jan 10:00
EIA Crude Oil Inventories 01/12 10:30
Beige Book Jan 14:00
Net Long-Term TIC Flows Nov 16:00

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