Morning Update: Stocks slide as G-20 summit begins

First Look

Stocks are lower ahead of the bell Friday. The G-20 meeting gets underway in Argentina today, but the group meeting is expected to be less interesting than the sidebars. President Trump is scheduled to have dinner with Chinese Premier Xi to discuss trade. That dinner is likely to generate the biggest headlines, as either a deal, or a further escalation of the trade war, would swing markets up or down. The Nasdaq is down -0.25%, the S&P is down -0.3%, the Dow Jones is down -0.35%.

Today's market outlook is Neutral

bo jackson
Set your goals high, and don't stop till you get there.
Bo Jackson

Stocks on the Move

Under Armour Inc Class A (UAA), Abbott Laboratories (ABT) and AT&T Inc. (T) are moving higher this morning, while Laboratory Corp. of America Holdings (LH), Marriott International Inc (MAR) and PVH Corp (PVH) are headed lower. World Wrestling Entertainment, Inc. (WWE), Palo Alto Networks Inc (PANW) and Sony Corp (SNE) were upgraded by analysts this morning, while Delek US Holdings Inc (DK), Goldman Sachs Group Inc (GS) and Cree, Inc. (CREE) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.81%, the Nikkei 225 is up 0.4%, the Hang Seng is up 0.21% the Mumbai Sensex is flat 0% and the Australia ASX All Ordinaries is down -1.48%. Stocks in Europe are down. The FTSE 100 is down -0.53%, the DAX is down -0.34%, the CAC 40 is down -0.17% and the Euro Stoxx 50 is down -0.01%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.74 at 50.71 per barrel. Brent crude is down -0.64 at 58.87 per barrel. Natural Gas is down -0.03 at 4.62. Precious metals are down this morning. Gold is down -2.93 at 1221.28 per ounce. Platinum is down -14.2 at 805.6 while silver is down -0.09 at 14.32. 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, 886,977 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 506,021 put contracts. The single-session put/call was 0.57 while the 20-day moving average is now at 0.7.

Earnings Expected Today

Already a member?

Login to see your daily Morning Action trade idea.

Morning Action Trades

Receive a Morning Action trade idea every market day right here in the Morning Update. Also get our Stocks to Watch newsletter every Saturday with trade ideas.

Become A Member

  • Last Price:
  • Previous Close:
  • Day's Range:
    $285.30 - $286.69
  • 52-week Range:
    $294.95 - $233.76
  • Last Price:
  • Previous Close:
  • Day's Range:
    $257.59 - $258.86
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
  • Previous Close:
  • Day's Range:
    $180.79 - $182.07
  • 52-week Range:
    $191.32 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Chicago PMI Nov 09:45

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available at Privacy policy available upon request.