Morning Update: Stocks slip Friday morning

First Look

Stocks in the U.S. are trading in red numbers ahead of Friday’s opening bell. The government shutdown is now tied for the longest in history, and with no talks about reopening, seems guaranteed to be the longest in history. Today marks the first pay day where federal workers, even many who are still on the job, will not be paid. Oil prices continue to rise as concerns about oversupply seem to be forgotten. The Dow Jones is down -0.19%, the S&P 500 is down -0.24%, the Nasdaq is down -0.31%.

Today's market outlook is Neutral

A well adjusted person is one who makes the same mistake twice without getting nervous.
Alexander Hamilton

Stocks on the Move

LKQ Corporation (LKQ), Host Hotels and Resorts Inc (HST) and PVH Corp (PVH) are moving higher this morning, while Activision Blizzard, Inc. (ATVI), PG&E Corporation (PCG) and Royal Caribbean Cruises Ltd (RCL) are headed lower. KeyCorp (KEY), Texas Roadhouse Inc (TXRH) and Netflix, Inc. (NFLX) were upgraded by analysts this morning, while Dominion Energy Inc (D), Starbucks Corporation (SBUX) and CME Group Inc (CME) were downgraded.

International Markets

Stocks in Asia are down. The Shanghai SE Composite Index is down -0.74%, the Hang Seng is down -0.41%, the Australia ASX All Ordinaries is down -0.33% the Mumbai Sensex is down -0.29% and the Nikkei 225 is up 0.97%.Stocks in Europe are down. The CAC 40 is down -0.73%, the DAX is down -0.59%, the Euro Stoxx 50 is down -0.42% and the FTSE 100 is down -0.3%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.38 at 52.21 per barrel. Brent crude is down -0.52 at 61.16 per barrel. Natural Gas is down -0.08 at 3.05. Precious metals are up this morning. Gold is up 6.04 at 1292.69 per ounce. Platinum is up 1.88 at 822.24 while silver is up 0.07 at 15.72. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 895,503 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 584,037 put contracts. The single-session put/call was 0.65 while the 20-day moving average is now at 0.72.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
CPI Dec 08:30
Core CPI Dec 08:30
Treasury Budget Dec 08:30

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