Morning Update: Stocks tick higher

First Look

U.S. stocks are a above the break-even market in early trading Thursday. After moving very little yesterday on a new round of tariffs between the U.S. and China, this morning’s optimism could be a positive sign. Weighing in the other direction are the beak ups of mergers between Rite Aid (RAD) and Albertsons, as well as a deal between Tribune (TRCO) and Sinclair Media (SBGI). The S&P 500 is up 0.11%, the Dow Jones is up 0.08%, the Nasdaq is up 0.01%.

Today's market outlook is Neutral

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Stocks on the Move

Norwegian Cruise Line Holdings Ltd (NCLH), Centurylink Inc (CTL) and Royal Caribbean Cruises Ltd (RCL) are moving higher this morning, while Booking Holdings Inc (BKNG), Perrigo Company PLC (PRGO) and Seagate Technology PLC (STX) are headed lower. Cincinnati Bell Inc. (CBB), Comstock Resources Inc (CRK) and Investment Technology Group (ITG) were upgraded by analysts this morning, while Applied Materials, Inc. (AMAT), Twenty-First Century Fox Inc Class A (FOXA) and C.H. Robinson Worldwide Inc (CHRW) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 1.83%, the Hang Seng is up 0.88%, the Australia ASX All Ordinaries is up 0.45% the Mumbai Sensex is up 0.36% and the Nikkei 225 is down -0.2%. Stocks in Europe are down. The FTSE 100 is down -0.74%, the CAC 40 is down -0.29%, the Euro Stoxx 50 is down -0.22% and the DAX is down -0.11%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.04 at 66.98 per barrel. Brent crude is up 0.17 at 72.45 per barrel. Natural Gas is up 0.01 at 2.95. Precious metals are up this morning. Gold is up 2.47 at 1216.35 per ounce. Platinum is up 6.75 at 838.08 while silver is up 0.06 at 15.49. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 922,686 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 571,882 put contracts. The single-session put/call was 0.62 while the 20-day moving average is now at 0.63.

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Today's Economic Calendar

What's Happening Period Release Time
PPI Jul 08:30
Initial Claims 08/04 08:30
Continuing Claims 07/28 08:30
Wholesale Inventories Jun 10:00
Natural Gas Inventories 08/04 10:30

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